NZ dollar gains as Fonterra hikes forecast farmgate payout

Article – BusinessDesk

Aug. 25 (BusinessDesk) – The New Zealand dollar gained after Fonterra Cooperative Group hiked its forecast payout to farmers for the current season as recent dairy auctions delivered bigger-than-expected price increases. Read more »

Metlifecare stake not a long-term hold for Infratil

Article – BusinessDesk

Aug. 25 (BusinessDesk) – Infratil chief executive Marko Bogoievski is happy with the 80 percent gain the value of the infrastructure investor’s stake in retirement village operator Metlifecare, but doesn’t expect the minority interest will be a … Read more »

Crown alleges Ngatata Love set up $3M in secret payments

Article – BusinessDesk

Crown alleges Ngatata Love set up $3M in secret payments to buy house for himself and partner Read more »

UPDATE: Methven books $2.7M after cancelling earn-out

Article – BusinessDesk

Aug. 25 (BusinessDesk) – Listed shower and tapware maker Methven booked a $2.7 million gain in its full-year net profit adjustments after cancelling an earnout agreement with the owner of the Chinese manufacturing facility it bought in 2014. Read more »

NZ insolvency practitioners face new licensing regime

Article – BusinessDesk

Aug. 25 (BusinessDesk) – New Zealand’s insolvency practitioners look likely to face a new licensing regime after a report to Commerce Minister Paul Goldsmith found that gaps in existing rules enable dishonesty and incompetence. Read more »

Countdown FY earnings slip 3.7% on record revenue

Article – BusinessDesk

Aug. 25 (BusinessDesk) – The Countdown supermarket chain posted a 3.7 percent drop in annual earnings due to a combination of food price deflation, competitive pressures and increased team-based performance payments as part of a customer service improvement … Read more »

Sheep milk industry gets $12.6M Crown funding

Article – BusinessDesk

Aug. 25 (BusinessDesk) – The fledgling sheep milk industry has been given a $12.6 million boost with government funding for a Primary Growth Partnership project with Spring Sheep Milk Co. Read more »

Ebos posts 20% gain in full-year profit as sales top $7 bln

Article – BusinessDesk

Aug. 25 (BusinessDesk) – Ebos Group posted a 20 percent gain in full-year profit and lifted its dividends as revenue topped $7 billion for the first time, saying it expects further earnings growth in the current year. Read more »

Methven continues annual revenue and profit growth

Article – BusinessDesk

Aug. 25 (BusinessDesk) – Methven, the shower and tapware designer, has reported a 31 percent increase in full-year net profit to $7.7 million with strong sales in New Zealand and Australia, continuing a turnaround in its performance that started … Read more »

SLI Systems curbs FY loss

Article – BusinessDesk

Aug. 25 (BusinessDesk) – E-commerce software seller SLI Systems narrowed its annual loss, reflecting cost containment during a restructuring following the loss of three major customers. Read more »

Hellaby Holdings annual profit falls 30%

Article – BusinessDesk

Aug. 25 (BusinessDesk) – Hellaby Holdings, the diversified investment group, posted a 30 percent fall as restructuring under new chief executive Alan Clarke continues. Read more »

Scales lifts first-half profit 3% on record Mr Apple crop

Article – BusinessDesk

Aug. 25 (BusinessDesk) – Scales Corp lifted first-half profit 3 percent and raised guidance for annual earnings as its Mr Apple unit delivered a record crop and met its 2020 export volume target four years early. Read more »

Former Tenths trustee gives evidence

Article – BusinessDesk

Aug. 25 (BusinessDesk) – A former trustee for the Wellington Tenths Trust has told Ngatata Love’s fraud trial that he was ok with the idea that “consultants” could be paid a $3 million fee for negotiating a deal with property developers. Read more »

NZ dollar gains as traders await Jackson Hole symposium

Article – BusinessDesk

Aug. 25 (BusinessDesk) – The New Zealand dollar rose above 73 US cents as traders wait to see what Federal Reserve chair Janet Yellen has to say at this weekend’s central banker symposium in Jackson Hole, Wyoming. Read more »

While you were sleeping: Wall Street slips

Article – BusinessDesk

Aug. 25 (BusinessDesk) – Wall Street moved lower ahead of Fridays speech by Federal Reserve Chair Janet Yellen who might offer clues on the timing for an interest rate hike by the central bankwhich some Fed officials have recently suggested could … Read more »

NZD falls – Yellen may dent kiwi-yield story

Article – BusinessDesk

The New Zealand dollar fell as traders speculated Federal Reserve chair Janet Yellen may echo recent hawkish statements by other Fed officials, giving impetus to the greenback. Read more »

Infratil still aspires to shareholder returns of 20% a year

Article – BusinessDesk

Infratil still aspires to generating total shareholder returns of 20 percent a year as it broadens the focus of its investment portfolio into sectors it wouldn’t have entered 10 years ago. Read more »

Seabed ironsands miner TransTasman tries again

Article – BusinessDesk

Aug. 24 (BusinessDesk) – The first company to attempt to gain a resource consent to mine ironsands from the ocean floor in New Zealand’s Exclusive Economic Zone has lodged a new application containing fresh scientific and other evidence it hopes … Read more »

Mobile health startup Vigil changes name

Article – BusinessDesk

Aug. 24 (BusinessDesk) – Vigil Monitoring, the digital healthcare company founded by Ray Avery and Alan Brannigan, is changing its name to Jupl as it expands into Australia. Read more »

Metro Glass sees ‘marked improvement’ in 2017

Article – BusinessDesk

Aug. 24 (BusinessDesk) – Metro Performance Glass, which has more than half the country’s glass processing market, expects to see a “marked improvement” in the coming year as it reaps the benefit of New Zealand’s building boom and looks further afield … Read more »