Energy company $22.2 million impairment against remaining Pike River debt, but manages to return to profit.

Dairy giant Fonterra has reported a 3.7% dip in revenue for the six months to January to $7.7 billion.

However, the company remains on track to achieve its second-highest cash returns to farmers this year.

Chief executive Andrew Ferrier said the company has faced olatility in both international prices and exchange rates during the half year, which contributed to the drop.

However, he said lower average selling prices were largely offset by growth in product volumes sold and positive net foreign exchange impacts – including hedging gains.

A strong Christmas trading period which saw its New Zealand same store sales rise by 14.1% has seen outdoor clothing retailer Kathmandu post an interim net profit of $4.4 million.

The profit follows a loss of $2.4 million in the first half of 2009, but does not include a total of $21.3 million in costs associated with the company’s IPO late last year.

Strategic Finance has fallen further into debt as it prepares to announce details of a proposed restructure.

The company has reported an (unaudited) after-tax trading loss of $99.8 million to December 2009 - $16.1 million higher than it forecast in January.

Then, the record $84 million loss expected meant the company’s loan book would be more than 75% less than what it owed to investors – triggering a second review event.

The $99.8 million loss compares to $32.8 million for the six months to December 2008.

Dual-listed Cue Energy has reported an $8 million net profit to December 31, compared to a $16 million loss in the same period last year.

The company, which re-listed on the NZX in October last year, said an increase in production receipts resulted in the profit, along with almost no impairment writedowns.

Oil production from the Maari field in the Taranaki basin and the start of gas production at Oyong in the Sampang PSC, Indonesia, pushed revenue up 72% to $30 million.