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


Methven grows profits by 20% and announces a dividend

Methven grows profits by 20% and announces a special dividend

Methven Chairman Phil Lough today announced that its sales had grown by 7.8% (constant currency 4.4%) and Net Profit After Tax by 20.4% (constant currency 19.7%) in the period from April to September 2015. David Banfield Group CEO commented “During our Annual Shareholder Meeting in July, we set out our plan to grow sales to $130 million per annum by June 2018 and Net Profit towards our longer term target of 10% of revenue. These results are in line with this plan and our full year guidance, and are a positive step on our journey to deliver industry-leading standards for our customers, shareholders and team.”

Having recently changed its balance date, Methven’s formal half year results were not due to be released until February 2016. Mr Banfield explained “We felt it important to update the market on our first six months’ performance in this transition year to ensure that up-to-date top-line information was available for current and prospective investors.”

The Board were also pleased to announce that Methven will pay a one-off special dividend of 3 cents per share (fully imputed), payable in December, with further half year and full year dividends payable in March and September 2016. “We are systematically improving the business and the additional dividend recognises current performance and our confidence in Methven’s long term prospects” commented Lough.

Methven also announced the release of its new dividend policy that sets out its intended pay-out ratios for dividends during the current Strategic planning cycle in order to give further clarity around targeted returns to shareholders.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Statistics: Annual Inflation Hits A Three-decade High At 5.9 Percent
The consumers price index increased 5.9 percent from the December 2020 quarter to the December 2021 quarter, the biggest movement since a 7.6 percent annual increase in the year to the June 1990 quarter, Stats NZ said today... More>>

Digitl: Bumper year ahead for NZ IT sector

Gartner says New Zealand spending on technology products and services will grow 7.4 percent this year. The company’s latest forecast says the market will total NZ$15.3 billion in 2022... More>>

Fonterra: Lifts Forecast Farmgate Milk Price Range

Fonterra Co-operative Group today lifted its 2021/22 forecast Farmgate Milk Price range to NZD $8.90 - $9.50 per kgMS, up from NZD $8.40 - $9.00 per kgMS. This increases the midpoint of the range, which farmers are paid off... More>>

Skoltech: Study Probes Earth’s Turbulent Past To Explain Where Oceans Came From

The origin of water on our planet is a hot question: Water has immense implications for plate tectonics, climate, the origin of life on Earth, and potential habitability of other Earth-like planets. In a recent study in Physical Review Letters, a Skoltech professor and his Chinese colleagues suggest... More>>

Statistics: Household Net Worth Grows In The September 2021 Quarter But At A Slower Pace Compared To March 2021

Household net worth grew by $60.7 billion in the September 2021 quarter compared with the June 2021 quarter, Stats NZ said today. This represents an increase of 2.5 percent, a similar result to the June 2021 quarter, which was up $60.6 billion or 2.6 percent... More>>

TradeMe: Job Market Ends 2021 On A High With Record Number Of Vacancies
The New Zealand job market finished 2021 on a high note, with the ball still firmly in the job hunters’ court, according to the analysis of 69,600 vacancies listed on Trade Me Jobs for the quarter ending 31 December (Q4)... More>>