Page 14 - HW November 2020

hard news
Salto’s integrated
future
The recent acquisition by electronic access control solutions specialist
Salto Systems’ of Austria’s Gantner Electronic will lead to, amongst other developments, Salto being able to offer a complete solution integrating access control, ticketing systems and cashless payments.
Gantner is an Austrian company specialising in access systems, electronic locking and locker systems, cashless payment, cash register and billing systems, staff time recording systems
as well as ticketing and management software for leisure facilities.
www.saltosystems.com.au
Auckland Costco store put off until 2022
Costco’s highly anticipated first New Zealand megastore was due to open in Auckland’s Westgate Town Centre next year.
However, Costco Australia & New Zealand managing director Patrick Noone last month announced a new date during the Property Council’s Auckland conference.
Although construction on the West Auckland site is well underway, the first store will now open a year later than planned, we hear.
Once completed, it will include a fuel station, tyre centre, food court, optometrist, hearing aid services, groceries and homewares.
https://www.costco.com.au/
Fletcher Building pleased with start to new FY
ON 10 NOVEMBER Fletcher Building issued a Trading Update for the four months ended 31 October which showed some gain in group revenues (+1%), alongside a group EBIT that was +55% before significant items.
Trading conditions in both New Zealand and Australia (where revenues were nonetheless slightly down) were described as “resilient”, especially in the Kiwi residential sector where demand for new houses has been “robust”.
Earnings in the New Zealand Core (Concrete, Building Products and Distribution) were +30%, led by the Concrete and Building Products divisions.
Distribution’s top line for the last 4 months was +3% balanced against a +24% EBIT gain (again, before significant items).
Fletcher Building CEO, Ross Taylor,
said of the numbers: “Through all the disruption and uncertainty of the past year, our people have adapted and responded superbly, maintaining a focus on delivering for our customers.
“We were heavily impacted in FY20 by the COVID-19 restrictions, resulting in
a significant earnings loss for the Group of $196 million, so we are pleased to have begun the new year well.
“As we look ahead, our customers are pointing to volumes remaining at current levels through to the start of the new calendar year.
“However, there is uncertainty in the second half of the financial year, with the impact of broader macro-economic factors on our markets in New Zealand and Australia not yet clear.”
Earnings guidance for H1 FY2021 will be released at the Annual Shareholders Meeting on 25 November.
www.fletcherbuilding.com
12 NZHJ | NOVEMBER 2020
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