MetService half year results announcement (FY2026)
The Directors announce an operating profit of $274,000 for the six-month period ended 31 December 2025.
Revenue increased by $1.38 million (3.8%) over the same period in the last financial year, mainly due to an increase in our international development business, an increase in the energy market business in Australia and an uplift in our Ministry of Transport contract.
However, profitability has reduced over the same period in the last financial year, due to an increasing cost base being $2.0 million up. This is mainly due to increasing cost of sales relating to international development infrastructure projects of $1.61 million more, and an increase in Employee Benefit expenses of $1.47 million being a mixture of one-off costs and employee market adjustments. These increases have been offset year on year, by reducing uncommitted costs through efficiency and cost savings initiatives of $494,000.
We are expecting increasing profitability in the second half of the financial year from the conversion of known revenue opportunities in our international markets, improving flight activity positively impacting our Aviation business revenue and increasing revenue from our Consumer market.
As New Zealand’s trusted provider of weather warnings and forecasts, our value has always extended far beyond financial returns - it lies in enabling the weather preparedness of communities and industry. Lives and livelihoods depend on our 24/7 operation which is underpinned by expertise, observation networks, weather modelling, products, services and communication channels. We help people minimise their weather-related costs and risks and support critical sectors such as aviation and marine to operate safely and efficiently.
The need for these services has never been greater as climate change continues to drive increasingly frequent and impactful severe weather. The strengthened weather, climate, and associated impacts forecasting system that will result from combining our capabilities with those of Earth Sciences will create immense opportunities to enhance the nation’s resilience.