Magazine article New Zealand Management

MARSH: Most Improved Performance Award

Magazine article New Zealand Management

MARSH: Most Improved Performance Award

Article excerpt

WINNER SKY Network Television

It is impossible to switch off to the numbers. A 4854 percent profit increase for the year says it all. SKY Television is a business whose time has come. It is the ultimate signal that, after years of writing results in red ink, SKY Television has moved into the black and looks set to tune into making more money for its shareholders in future. This profit turnaround is the result of the company's strategy to build its subscriber base until it reached critical mass. The huge depreciation costs of the past have also faded. Growth is now credible and the company should benefit from the stronger New Zealand dollar. SKY has invested in its future for years and now it is the only player left in the pay TV market. It has built the brand and positioned itself to reap at leisure the seeds sown to ensure its future success. With its improving financial results the company is now paying off debt. It is suddenly one of New Zealand "low risk" businesses. This year, SKY Television is a picture of financial health.

FINALIST AFFCO Holdings

A beefy 231 percent profit turnaround at meat company AFFCO signalled a dramatic change in fortunes. The performance, according to the judges, shows the strength of the restructuring and re-engineering of a long established company reportedly close to slinging its hook a year or two ago. Now this 100-year-old company is back in business, modernised and re-managed and focusing on business basics. …

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