Off-site construction factories for KiwiBuild homes sought

Article – BusinessDesk

June 25 (BusinessDesk) – New Zealands government will invite companies, both domestic and overseas, to express their interest in setting up or expanding off-site manufacturing factories for KiwiBuild homes, a government construction program aimed … Read more »

Kathmandu forecasts lift in annual profit on higher margins

Press Release – BusinessDesk

Kathmandu forecasts lift in annual profit on higher margins, sales; shares jump to month high Read more »

NZ Refining shutdown to trim $40 mln from annual profit

Article – BusinessDesk

June 25 (BusinessDesk) – New Zealand Refining shares fell after the Marsden Point refinery operator said a longer planned outage than anticipated will cost more and hit the bottom line harder than previously forecast. Read more »

NZ dollar holds above 69 US cts

Article – BusinessDesk

June 25 (BusinessDesk) – The New Zealand dollar held above 69 US cents as the Organisation of the Petroleum Exporting Countries’ move to boost production lifted prices for raw materials, supporting demand for commodity-linked currencies. Read more »

MARKET CLOSE: NZ shares rise after bumpy week

Article – BusinessDesk

MARKET CLOSE: NZ shares rise after bumpy week, led by NZ Refining, Synlait while Port of Tauranga, A2 drop Read more »

NZ dollar heads for 0.7% weekly decline

Article – BusinessDesk

NZ dollar heads for 0.7% weekly decline as trade jitters weigh on markets By Rebecca Howard Read more »

Mining industry says no more projects the size of Te Kuha

Article – BusinessDesk

Mining industry says no more projects the size of Te Kuha, but smaller ones waiting Read more »

Goodman Fielder seeks ComCom permission to buy Yoplait right

Article – BusinessDesk

June 22 (BusinessDesk) – Goodman Fielder New Zealand, which owns a number of dairy brands including Meadow Fresh and Puhoi Valley, wants to buy the rights to make and sell Yoplait branded yoghurt in New Zealand. Read more »

RBNZ’s Orr tipped to stand pat

Article – BusinessDesk

RBNZ’s Orr tipped to stand pat and could signal hikes might take even longer Read more »

Consistency across port reporting would boost transparency

Article – BusinessDesk

June 22 (BusinessDesk) – A variety of accounting treatments used by the country’s port companies makes it hard to compare and greater alignment would increase transparency, says deputy Auditor-General Greg Schollum. Read more »

Fletcher’s Ross says no change to B+I provisions

Article – BusinessDesk

Fletcher’s Ross says no change to B+I provisions, won’t comment on delays in Chch airport hotel Read more »

SeaDragon auditor seeking asset valuation evidence

Article – BusinessDesk

June 22 (BusinessDesk) – SeaDragon’s annual accounts got a black mark from its auditors for a second year, with PwC declining to express an opinion on the financial statements after failing to find enough evidence supporting the fish oil supplement maker’s … Read more »

Leaky school claim against Carter Holt about a year away

Article – BusinessDesk

Education Ministry’s leaky school claim against Carter Holt about a year away By Paul McBeth Read more »

NZ may produce record volumes of milk this season

Article – BusinessDesk

June 22 (BusinessDesk) – New Zealand milk production may grow to a record of nearly 23 billion litres in the 2018/19 season, bolstered by a favourable milk price and adequate feed reserves, and assuming normal weather conditions, according to Rabobanks … Read more »

ANZ Bank unlikely to get millions owed by Pumpkin Patch

Article – BusinessDesk

June 22 (BusinessDesk) – Failed children’s clothing retailer Pumpkin Patch is unlikely to be able to pay back the millions it owes to ANZ Bank while unsecured creditors will get zilch, according to the latest report by the company’s receivers KordaMentha. Read more »

NZ annual net migration falls in May

Article – BusinessDesk

June 22 (BusinessDesk) – New Zealand’s annual net migration fell in May as the number of foreigners arriving stayed the same but the number of New Zealanders and foreigners leaving rose. Read more »

Steel & Tube agrees to $21.1M sale-and-leaseback

Article – BusinessDesk

June 22 (BusinessDesk) – Steel & Tube Holdings said it agreed to a $21.1 million sale-and-leaseback deal of its Blenheim Road property in Christchurch, a key distribution hub for the company, as part of its restructuring efforts to raise working capital … Read more »

Michael Hill will close six remaining Emma & Roe stores

Article – BusinessDesk

June 22 (BusinessDesk) – Michael Hill International said it plans to close the remaining six stores of its Emma & Roe chain as well as the sub-brands online business at a total cost of no more than $3.1 million, a move allowing the Brisbane-based jewellery … Read more »

Fletcher Building refreshes board chair and directors

Article – BusinessDesk

June 22 (BusinessDesk) – Fletcher Building’s outgoing chair Ralph Norris announced the board’s audit and risk committee chair Bruce Hassall will succeed him when he steps down from the troubled building company in September. Read more »

NZ dollar recovers ground as greenback falls

Article – BusinessDesk

June 22 (BusinessDesk) – The New Zealand dollar rose as the greenback fell from an 11-month high amid weaker-than-expected US data and was little changed against the pound on signs the Bank of England may be closer to hiking interest rates. Read more »