28 Jul 2015

Business Briefs

2:04 pm on 28 July 2015

A round-up from Radio NZ's business desk - SeaDragon expects small profit and households switch to small and medium sized electricity companies.

SeaDragon expects small profit

SeaDragon is expecting to make a small full year underlying profit, with increased production from its new Omega-3 processing facility, driving the improved financial performance.

The fish oil production company is forecasting an underlying profit of $144,000 in the March 2016 financial year, a turnaround from the previous year's $2.2 million loss.

Sales are expected to rise 60 percent to $10.1 million, while costs are forecast to rise 75 percent to $5.1 million.

Households got with smaller electricity companies

The Electricity Authority says households are switching to small and medium sized electricity companies, rather than moving to the big players.

Figures released by the authority show mid-sized companies, such as Trust Power, Todd Energy and Pulse benefited from people switching last year.

It says competition in the market is rising.