Video | Business Headlines | Internet | Science | Scientific Ethics | Technology | Search


Cadmus Posts Operating Surplus for Third Quarter


Cadmus Posts Operating Surplus for Third Quarter

Auckland – April 30, 2001 – Payment solutions and data management services provider, Cadmus Technology Limited (NZSE: CTL) today announced an operating surplus of $349,000, based on revenues of $2,129,000 for the third quarter ended 31 March, 2001.

After 10 months trading, the group’s operating surplus was $754,000, based on YTD revenues of $5,548,000. This results in a YTD deficit of $553,000 after depreciation, amortisation and asset write down of $1,307,000. The operating profit result for the 10 months compares with the forecast full year deficit of $1,051,000 from the listing profile.

The group reported a net operating cashflow of $725,592.

These results are summarised in the table below.
Cadmus Technology Limited
Condensed statement of financial performance

Three months ended 31 March, 2001.

Revenues 2,129 5,548
Operating surplus 349 754
Amortisation of goodwill (523) (1,307)
Deficit after amortisation of goodwill (174) (553)
Cash in hand 752 752

“This is a very satisfying result for our company,” says Cadmus Managing Director, Ian Bailey. “It shows positive cash flows - in line with internal budgets – and highlights the business is a profitable operation and has low gearing. Further a financing agreement has allowed us to factor off the group’s lease book, allowing us access to funding lines, which in turn lets us accelerate the growth of the equipment rental business.”


Q3 highlights for the company include:

- Goldband Taxis – announced an agreement to install SmartTaxi terminals in Goldband’s 150 taxis (Christchurch based)
- Bartercard terminals – commenced rollout of the initial 1,200 Internet capable payment terminals for Bartercard

- TrustPower Joint Venture (PosPower) – the first 1,000 terminals are in the final stages of manufacture and are undergoing final regulatory approval (due for rollout next quarter).

Other highlights and milestones post December 2000, include a supply and support agreement with Bank of New Zealand, loyalty card programme agreement with the Vodafone Warriors and a database marketing programme agreement with Subaru New Zealand.

Since listing Cadmus has also entered into agreements with TrustPower - a 50/50 JV called PosPower Limited, a 50/50 JV with E-Smart Card Technologies Limited and also acquired a 4.55% strategic holding in Insight Technologies (Asia Pacific) Pty Limited.

Growth Strategy
“It’s our intention to enhance the value of the business by seeking to acquire profitable companies with positive cashflows in the payment technology and data management sectors,” adds Ian.

“We seek companies who can utilise our patented technologies to add value and reduce transactional cost. While we have substantial lines of funding in place, we plan to cautiously expand the group’s operations, subject to due diligence, in the medium term.”


Company Background
Cadmus Technology Limited is an end-to-end payment solutions and data management services provider. It operates a number of unique interfaces into the NZ EFTPOS infrastructure enabling the capture and processing of information relating to customer spend, as well as the processing of in-house and private label cards.

The facilities offered includes database marketing, loyalty programmes and services, transactional processing and switching, e-Commerce solutions, ISP services, bespoke hardware and software developments, electronic marketing, data capture terminals and EFTPOS terminals. Clients include the New Zealand Warriors Rugby League, Bartercard, Stihl, TrustPower, and many of the major motor vehicle importers and distributors.

For more information please visit

© Scoop Media

Business Headlines | Sci-Tech Headlines


Voluntary Administration: Renaissance Brewing Up For Sale

Renaissance Brewing, the first local company to raise capital through equity crowdfunding, is up for sale after cash flow woes and product management issues led to the appointment of voluntary administrators. More>>


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>


Media Mega Merger: Full Steam Ahead For Appeal

New Zealand's two largest news publishers have confirmed they are committed to pursuing their appeal against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>


Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>