Archive for the 'Article' Category

RBNZ gets CBL Insurance interim liquidation order

Article – BusinessDesk

Feb. 23 (BusinessDesk) – The High Court has ordered CBL Insurance be placed into interim liquidation on an application by the Reserve Bank as the insurer’s prudential supervisor. Read more »

MARKET CLOSE: NZ shares rise, led by Summerset

Article – BusinessDesk

MARKET CLOSE: NZ shares rise, led by Summerset, Metlifecare, Comvita falls after flagging poor season Read more »

NZ dollar heads for 1.2% weekly fall

Article – BusinessDesk

NZ dollar heads for 1.2% weekly fall as greenback finds favour on rate hike view Read more »

Northport upbeat on regional fund

Article – BusinessDesk

Feb. 23 (BusinessDesk) – Marsden Point-based Northport has welcomed the government’s plans to invest in roading and infrastructure projects in Northland and to investigate the viability of a rail link to Northport as it looks to support economic growth … Read more »

Seeka annual profit falls 44% on lower kiwifruit volumes

Article – BusinessDesk

Feb. 23 (BusinessDesk) – Seeka posted a 44 percent decline in annual profit as Australasia’s biggest kiwifruit grower booked a $2 million charge on its banana sourcing unit while managing a decline in kiwifruit volumes. Read more »

Pyne Gould first-half profit gains on Wilaci settlement

Article – BusinessDesk

Feb. 23 (BusinessDesk) – Pyne Gould Corp more than tripled first-half profit as the investment firm settled litigation with Australian businessman John Grills’ Wilaci unit, offsetting an operating loss on smaller investment gains and skinnier land … Read more »

Steel & Tube may be interested in Fletcher assets

Article – BusinessDesk

Steel & Tube may be interested in Fletcher assets if review prompts sales, CEO Malpass says Read more »

A personal obituary: Rob Cameron By Pattrick Smellie

Article – BusinessDesk

Feb. 23 (BusinessDesk) – The last time I heard from Rob Cameron was out of the blue, just before Christmas. Read more »

Countdown supermarkets 1H earnings fall 7.7%

Article – BusinessDesk

Feb. 23 (BusinessDesk) – ASX-listed retailer Woolworths Group ramped up investment in its Countdown chain of supermarkets across New Zealand, leading to a 7.7 percent decline in first-half earnings with a similar effect expected in the second half. Read more »

Regional growth fund trickle becomes avalanche

Article – BusinessDesk

By Pattrick Smellie Feb. 23 (BusinessDesk) – The government has made an initial $61.7 million down-payment on its promise to spend $1 billion a year for the next three years on regional economic growth initiatives, with Cabinet papers signalling it … Read more »

export growth in 1H suggests economy in not too bad a shape

Press Release – BusinessDesk

Feb. 23 (BusinessDesk) – Port of Tauranga chief executive Mark Cairns says the 9.4 percent growth in export volumes from New Zealand’s biggest port suggests the economy “is in not too bad a shape” as log and dairy shipments rise alongside an increase … Read more »

NZ quarterly retail sales rise 1.7% in 4th-qtr

Article – BusinessDesk

Feb. 23 (BusinessDesk) – New Zealand retail sales rose in the fourth quarter, as Kiwis spent more on dining and drinking out, cars and parts, and on groceries. Read more »

Kiwibank first-half profit sinks 32% as IT costs mount

Article – BusinessDesk

Feb. 23 (BusinessDesk) – Kiwi Group Holdings, the parent of Kiwibank, Kiwi Wealth and Kiwi Insurance, posted a 32 percent slide in first-half profit as the country’s fifth-biggest lender bore escalating costs of a dud IT project that’s already been … Read more »

SLI Systems shares soar 80% after maiden profit

Article – BusinessDesk

Feb. 23 (BusinessDesk) – SLI Systems stock soared 80 percent to its highest level in more than six months after the e-commerce software seller posted a maiden first-half profit as it changes strategy to a more self-service model, retained more customers, … Read more »

Comvita swings to first-half profit

Article – BusinessDesk

Feb. 23 (BusinessDesk) – Comvita, the mnuka honey company, swung to a first-half profit on strong sales growth and a recovery in the “grey” or informal sales channel into China and reiterated its full-year earnings guidance despite bad … Read more »

NZ Post pays $2.5M interim dividend issues warning

Article – BusinessDesk

NZ Post pays $2.5M interim dividend while warning year-end targets will be ‘challenging’ Read more »

Summerset lifts annual earnings 44%, beating profit forecast

Article – BusinessDesk

Feb. 23 (BusinessDesk) – Summerset Group lifted annual earnings 44 percent, ahead of its forecast, after the retirement village developer and operator built more units and improved its margins. Read more »

Steel & Tube first-half profit drops 64%

Article – BusinessDesk

Feb. 23 (BusinessDesk) – Steel & Tube posted a 64 percent decline in first-half profit as the steel products maker wrote down the value of inventory and bore the cost of restructuring the business, which it anticipates will lead to improved earnings over … Read more »

Delegat Group lifts 1H operating profit 9% to record $26.9 m

Article – BusinessDesk

Feb. 23 (BusinessDesk) – Delegat Group, New Zealands largest listed winemaker, lifted operating profit 9 percent in the first half due to the favorable impact of foreign change rate changes and increased in-market pricing and the company is upbeat … Read more »

FIRST CUT: Port of Tauranga lifts FY earnings guidance

Article – BusinessDesk

Feb. 23 (BusinessDesk) – Port of Tauranga, New Zealand’s biggest port company, raised its full-year earnings guidance after posting a 13 percent gain in first-half profit that was driven by growth in cargo volumes. Read more »

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