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$100 note - Source: ONE News -
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Resin maker Nuplex and rural services company PGG Wrightson were two companies that really struggled at the height of the global financial crisis last year.
They had issues with debt levels, falling sales and falling share prices and both were forced to sure up their balance sheets with new capital.
Nuplex had a share issue, while PGG Wrightson took on a new Chinese cornerstone shareholder in Agria.
These were stressful times for two very proud, established and important New Zealand companies.
So, how pleasing one year on to see that both companies have got through the tough times and are now in much healthier shape.
On Thursday Nuplex posted a record half profit of $34.6 million, compared with about $5.6 million a year earlier, while PGG Wrightson returned to profitability with a $4.1 million net profit for the half.
Yes, a big factor in both these results, as we have seen with others this reporting season, is cost cutting and belt tightening. But that's not the full story.
In the case of Nuplex in particular there are real signs of strength in sales too, particularly in China and Australia, while the company says even New Zealand is starting to show some signs of improvement.
And CEO John Hirst was certainly a lot more upbeat when fronting on NZI Business this week than he was last year!
Hirst did though have a few words of caution, saying while current sales levels around the world would indicate that it is being sustained "we will wait and see ".
He knows all too well that the global economy still faces many threats such as the Euro zone debt crisis and a weak US economic recovery.
Although thankfully for Nuplex much of its turn around is being driven by Asia and as yet its shown little sign of faltering.
Meanwhile PGG Wrightson was also boosted by the news that the experienced and respected TVNZ chair Sir John Anderson would be joining the company's board as its new chairman.
Positive news was also provided this week by Tourism Holdings, which posted an unexpected profit, thanks in part to better sales in its camper van divisions.
Tourism it seems has held up reasonably well in New Zealand.
To top off the week we had strong National Bank Business Confidence survey .
Confidence is now at a 10 year high, which is not entirely surprising given firms were in the depths of despair last year.
However the survey is encouraging and as its authors say, it does suggest we are seeing underlying improvement in the local economy.
I don't think it is enough though to change the Reserve Bank governor's thinking on interest rates just yet.
A June hike still seems the most likely, especially given the global uncertainty surrounding Greece and the lack of inflation or credit growth in New Zealand.
