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MARKET CLOSE: NZ shares fall; Gentrack sinks

Article – BusinessDesk

May 24 (BusinessDesk) – New Zealand shares fell, led by Gentrack, after the utilities software developer was among companies reporting weaker than expected earnings today. Read more »

NZ dollar falls after Westpac’s RBA rate cut call

Article – BusinessDesk

May 24 (BusinessDesk) – The New Zealand dollar fell in unison with its Australian counterpart against the greenback after Westpac forecast the Reserve Bank of Australia will cut interest rates three times this year. Read more »

Intuit grows QuickBooks subscribers but momentum slows

Article – BusinessDesk

May 24 (BusinessDesk) – United States-based Intuit increased its online QuickBooks subscriptions to more than 4.2 million at the end of April, up 32 percent compared with the same quarter last year. Read more »

Reaction to Budget relaxation shows balance ‘about right’

Article – BusinessDesk

Reaction to Budget rules relaxation shows balance ‘about right’, says Ardern Read more »

Augusta lifts net profit six fold

Article – BusinessDesk

May 24 (BusinessDesk) – Augusta Capitals annual net profit rose more than six fold to a record as underlying income, management fees and transactional fees all grew strongly. Read more »

Annual exports to China top $15 billion for first time

Article – BusinessDesk

May 24 (BusinessDesk) – Annual exports to China jumped 22 percent in April to top $15 billion for the first time, amid growing demand for beef, lamb, logs and dairy products. Read more »

Gentrack posts $8.7M loss on CA Plus write-down

Article – BusinessDesk

May 24 (BusinessDesk) – Utilities software specialist Gentrack Group has reported an $8.7 million first-half loss after writing off the value of airport software developer CA Plus it acquired in 2017. Read more »

Westpac on RBNZ capital proposals

Article – BusinessDesk

Westpac says RBNZ capital proposals would add $6,000 p.a. to an Auckland mortgage Read more »

Cavalier says market conditions still challenging

Article – BusinessDesk

May 24 (BusinessDesk) – Cavalier Corp expects to break-even in the second half, meaning annual normalised profit will remain around $1.9 million as market conditions remain tough. Read more »

Ryman hikes dividend as annual earnings grow

Article – BusinessDesk

May 24 (BusinessDesk) – Ryman Healthcare will pay a bigger return to shareholders after chalking up another record earnings result on wider development margins, despite slowing sales. Read more »

Fonterra’s profit warning increases importance of asset sale

Article – BusinessDesk

May 24 (BusinessDesk) – Fonterra Co-operative Group’s profit downgrade doesn’t impact its rating but increases the importance of its asset sales, Fitch Ratings says. Read more »

NZ dollar higher as greenback falters on trade jitters

Article – BusinessDesk

May 24 (BusinessDesk) – The New Zealand dollar was trading higher early Friday on weak US data and as US-China trade tensions show no sign of easing. Read more »

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