The impact of Covid-19 on company earnings has been shown in several reports today.
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Cinema software company Vista Group reported a substantial half year loss of $43m, compared with a profit of $4m a year ago.
Much of the loss was a the result of increased finance costs, and a writedown of asset values, and its investments in China. Revenue fell by a third to $44.8m, as the pandemic halted new license sales of its software.
Vista chief executive Kimbal Riley said the company had moved to quickly to reinforce its finances with $65m capital raising, and this has put it in a strong position for recovery.
"We believe Vista is in a stronger and more competitive position, with very strong customer relationships, a healthy balance sheet with good levels of cash, and a clear focus from the team on delivering innovation to our customers globally."
Freight company TIL Logistics had its full year profit halved by the pandemic to $2 million, as revenue fell about 6 percent to $334m.
The virus cost it $17m in sales, although it received some offset with $10m in wage subsidies.
The company said the coming year would be challenging, but had some prospects.
"TIL does see windows of opportunity, with Covid-19 related government fiscal stimulus likely to support increasing freight volumes... and continuing high demand in some sectors such as food & beverage, aquaculture, viticulture and other primary industries," it said in a statement.
Auckland based lines company Vector fared better with a 15 percent lift profit to $95.4m as it had a lower writedown in values than the year before.
Revenue was marginally lower at nearly $1.3 billion.
