Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Brocker Lifts Business Performance

Posts Turnaround Result to June 30, 2001

Auckland – September 18, 2001. Brocker Technology Group Limited, (Nasdaq:BTGL, TSE: BKI) an IT and telecommunications company, today announced a marked improvement in its business performance.

Brocker’s first quarter EBITDA earnings to June 30 2001 increased to C$963,761 compared to a deficit of C$423,352 for the same period last year.

The company reported a C$89,000 net loss after tax for the first quarter ended June 30, 2001, compared to a C$645,754 loss for the previous year.

The improvement in Brocker’s operating performance follows a loss of C$19.3 million reported for the year ended 30 March 2001, and reflects the company’s restructuring initiatives. These have included the sale or closure of non-performing entities, a significant reduction in corporate costs and the continued investment and focus on the company’s profitable business units.

Brocker’s revenues totalled C$20.3 million for the quarter, a reduction of 28.7% from the first quarter of the 2001 financial year. The lower revenues can be attributed to Brocker’s decision in February 2001 to withdraw from its unprofitable distribution business in the face of reduced demand, increased competition and declining margins. This has released investment capital, reduced inventories and allowed repayment of the associated debt facilities.

In addition, the acquisition of Generic Technology Limited in October 2000, which has a long established track record of profitability, was also a positive contributor to the latest quarter’s result.

“We are delighted with the turn-around in operating profitability and we are diligently looking forward to build on this result. We continue to be focused on appropriately allocating financial and intellectual capital to areas of growth in the company which we believe will generate the best return for our shareholders,” says Brocker’s General Manager Commercial Ventures, Simon Jones.

“We are very pleased with the financial tightening that Brocker has achieved during this past financial year while building a platform for enhanced profitability,” Brocker’s Chief Financial Officer Grant Hope.

Brocker’s most recent financial statements may be accessed by visiting the company’s website at www.brockergroup.com.
ENDS


About Brocker Technology Group

Brocker Technology Group is a publicly listed company on the Toronto Stock Exchange (symbol:BKI) and Nasdaq (symbol: BTGL). From its origins distributing IT products, Brocker has become a communications innovator, developing and acquiring expertise and intellectual property with global application. The company’s broad range of products and services spans: telecommunications, e-commerce and information management. To support these operations, Brocker is structured into three divisions: Online Telecommunications, Professional Services and Datec.
Brocker are specialists in developing and implementing effective e-business strategies for large enterprises. The company works with utility companies and others to improve the management and communication of information as well as developing innovative bundles of telecommunication services for large user groups. Brocker also has proven capability in the design and management of IT systems, across the South Pacific.

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Snail's Pace: Aucklanders Face Frustrating Commute Over Harbour Bridge

Journeys into Auckland's CBD took longer than usual as traffic banked up around the damaged Harbour Bridge. More>>

ALSO:

Statistics New Zealand: COVID-19 Sees Record 12.2 Percent Fall In New Zealand’s Economy

Gross domestic product (GDP) fell by 12.2 percent in the June 2020 quarter, the largest quarterly fall recorded since the current series began in 1987, as the COVID-19 restrictions in place through the quarter impacted economic activity, Stats NZ said ... More>>

ALSO:

Climate: Scientists Release ‘Blueprint’ To Save Critical Ecosystems And Stabilize The Earth’s Climate

A group of scientists and experts produced the first comprehensive global-scale analysis of terrestrial areas essential for biodiversity and climate resilience, totaling 50.4% of the Earth's land. The report was published in Science Advances ... More>>

ALSO:

MPI: Independent Review Launched Into Assurances For Safe Transport Of Livestock By Sea

The Ministry for Primary Industries (MPI) has launched an independent review of the assurances it receives for the safe transport of livestock by sea. MPI Director-General Ray Smith says Mike Heron QC has been appointed to lead the review, which is expected ... More>>

ALSO:


Computers: New Zealand PC Market Grows Nearly 40% Due To Work From Home Demand

COVID-19 had large impacts on demand for PCs as businesses prepared for lockdowns by purchasing notebooks to mobilise their workforce. In the second quarter of 2020, New Zealand's Traditional PC market experienced a 39.7% year-on-year (YoY) growth ... More>>

ALSO:


Ministry of Health: Public Transport Distancing Requirements Relaxed

Physical distancing requirements on public transport have been reviewed by the Ministry of Health to determine whether they are still required at Alert Level 2 (or below). The Ministry’s assessment is that mandatory face covering and individuals tracking ... More>>

ALSO:

NZHIA: New Zealand Hemp Industry Set To Generate $2 Billion Per Annum And Create 20,000 Jobs

A new report says a fully enabled hemp industry could generate $2 billion in income for New Zealand by 2030, while also creating thousands of new jobs. Written by industry strategist Dr Nick Marsh, the report has prompted calls from the New Zealand Hemp ... More>>

ALSO:

Stats NZ: One In 14 Employed People Report High Risk Of Losing Jobs

About one in 14 workers say they expect to lose their job or business by mid-2021, Stats NZ said today. A survey of employed people in the June 2020 quarter showed 7 percent felt there was a high or almost certain chance of losing their job or business ... More>>

ASB Quarterly Economic Forecast: NZ Economy Doing Better Than Expected, But Challenges Remain

August lockdown estimated to have shaved 8% off NZ’s weekly GDP, and 0.5% off annual GDP Economy now expected to shrink 5% (year-on-year) by end of 2020 Unemployment rate now expected to peak at 7.2% The latest ASB Quarterly Economic Forecast is less ... More>>

ALSO:

SAFE: Live Export Ship Carrying 5,800 New Zealand Cows Goes Missing In East China Sea

Livestock carrier Gulf Livestock 1 sent a distress signal at 4:45am NZT yesterday in the East China Sea. The area is affected by Typhoon Maysak. At 4pm a patrol plane spotted a lifeboat - with no people in it - and a man in lifejacket nearby. The ship ... More>>

ALSO:

FMA: Kiwisaver Fees Don't Match Performance

The Financial Markets Authority (FMA) today published an independent report into the passive and active investment management styles [i] used by KiwiSaver providers. The FMA commissioned MyFiduciary to test the extent that KiwiSaver providers were ... More>>