MetService Annual Report a real ray of sunshine

Minister for State Owned Enterprises (SOE’s) Mark Burton is impressed by the achievements outlined in the annual report tabled today by MetService.

“MetService performed well over the 2001/02 financial year, recording an after-tax operating profit of $2.9 million. This represents a 42% return on shareholders’ funds.

“2001 also saw the implementation of the 10-day forecast. This is the first time since 1983 (when the forecast was increased to five days) that the forecast period has been extended.

“Over the past decade, MetService have developed a range of innovative products, offering weather services to the aviation, media, and energy industries. Perhaps their best known product is WeatherScape—the leading edge 3D television weather graphics presentation software developed in partnership with Television New Zealand.

“In the ten years since MetService became an SOE, it has grown into a splendid example of the SOE model. MetService deliver world-class products and service to their customers both domestically and internationally, and excellent dividends to New Zealand.”

MetService provides weather information and presentation services in the form of forecasts, warnings and advice. They are also involved in delivering the graphical presentation of non-weather data, such as television and sharemarket listing.

The full report is available on www.metservice.com.