Bancorp Wealth Management New Zealand Ltd.
Bancorp Wealth Management New Zealand Limited: Bancorp releases 2014/2015 annual report
DGAP-News: Bancorp Wealth Management New Zealand Limited / Key word(s): Final Results/Dividend Bancorp releases 2014/2015 annual report – Sales: NZ$ 23.5m (previous financial year: $ 25.4m) Auckland, New Zealand, 16 February 2016 – Bancorp Wealth Management New Zealand Limited (Bancorp, ISIN: NZBWME0001S2) generated NZ$ 23.5m in Group sales in the 2014/2015 financial year (previous financial year: NZ$ 25.4m). After-tax earnings as at 30 June 2015 declined to a total of NZ$ 0.8m (previous financial year: NZ$ 2.7m). Earnings per share came to NZ$ 0.06m, compared with NZ$ 0.44m in the same period a year earlier. As at the balance sheet date (30 June 2015), the Bancorp Group disposed of cash & cash equivalents amounting to NZ$ 14.0m (30 June 2014: NZ$ 5.5m). With total assets amounting to NZ$ 77.5m (30 June 2014: NZ$ 68.7m) and equity capital at NZ$ 21.4m (30 June 2014: NZ$ 21.0m), the equity ratio came to 27.7% (30 June 2014: 30.6%). “Profit for the 2014/2015 financial year is partly within the target corridor defined by Management and partly exceeds it. For instance, we had anticipated the decline in sales revenues and slight profit shortfalls owing to the sale and the associated deconsolidation of Auckland Airbus. At the same time, the Boston Marks business during the last financial year turned out below our expectations. In the current 2015/2016 financial year, in addition to intensifying the Boston Marks business we plan to deploy our high volume of cash & cash equivalents also in the field of aircraft financing. We perceive good opportunities here, especially against the backdrop of the newly concluded joint venture with Oceania Aviation Ltd. – New Zealand’s leading helicopter engineer,” commented Craig Brownie, CEO of Bancorp. About Bancorp
2016-02-16 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |