Archive for the 'Article' Category

UPDATE: CBL shares drop 11% after earnings fall short

Article – BusinessDesk

Feb. 24 (BusinessDesk) – CBL Corp shares tumbled 11 percent after the credit surety and financial risk insurance company posted full-year earnings that missed some market expectations and included one-time costs that weren’t projected in its prospectus. Read more »

MARKET CLOSE: NZ shares fall

Press Release – BusinessDesk

Feb. 24 (BusinessDesk) – New Zealand shares fell, with Warehouse Group and Mercury New Zealand ending down, while Air New Zealand rose. Read more »

NZ dollar gains 0.5% against greenback

Article – BusinessDesk

Feb. 24 (BusinessDesk) – The New Zealand dollar is heading into the end of the week up 0.5 percent against the US dollar, as the greenback struggled to gain any traction on ongoing jitters about the US, but stuck to a tight range on the day. Read more »

More booze on New Zealand shelves in 2016

Article – BusinessDesk

Feb. 24 (BusinessDesk) – Higher retail spending and improving consumer confidence looks to be spilling over into New Zealand’s liquor market. Read more »

Murray Goulburn’s milk collection sinks 21% in first half

Article – BusinessDesk

Feb. 24 (BusinessDesk) – Murray Goulburn Cooperatives’ domestic collection slumped by more than a fifth through the latter half of last year, outpacing the decline Kiwi rival Fonterra Cooperative Group faced, as record rainfall and a tougher fight … Read more »

CBL annual profit falls 14% as expansion costs weigh

Article – BusinessDesk

Feb. 24 (BusinessDesk) – CBL Corp, the NZX-listed company that sells credit surety and financial risk insurance, posted a 14 percent drop in annual profit, missing its prospectus forecast, due to costs associated with its expansion. Read more »

Government releases terms of reference on fuel price study

Forecast – BusinessDesk

Feb. 24 (BusinessDesk) – The government has released the terms of reference of a study to determine how fair petrol and diesel prices are at the pump and the aim is to wrap it up by June, said Energy and Resources Minister Judith Collins. Read more »

NZ lamb wool price picks up

Article – BusinessDesk

Feb. 24 (BusinessDesk) – New Zealand lamb wool prices picked up as the volume of bales offered for sale at auction declined. Read more »

NZME reports little changed FY pro forma net profit

Article – BusinessDesk

Feb. 24 (BusinessDesk) – NZME, the New Zealand media group awaiting Commerce Commission approval to acquire Fairfax Medias local assets, reported a steady full-year pro forma net profit as challenging advertising markets were helped by a strong growth … Read more »

Vista pays bigger-than-expected maiden dividend

Article – BusinessDesk

Feb. 24 (BusinessDesk) – Vista Group International will pay a bigger maiden dividend than analysts were picking after the cinema analytics software developer’s profit was bolstered by a gain on its Chinese joint venture and as underlying earnings increased … Read more »

Vector first-half profit rises 7% on sales growth

Article – BusinessDesk

Feb. 24 (BusinessDesk) – Vector, the Auckland-based electricity and gas distributor, posted a 7 percent gain in first-half profit, driven by stronger sales, lower finance costs and a one-time gain after a Court of Appeal ruling on a tax claim. Read more »

Mnuchin says impact of US tax reform will take time

Article – BusinessDesk

Feb. 24 (BusinessDesk) – The New Zealand dollar rose after new US Treasury Secretary Steven Mnuchin indicated it would take time for fiscal policy reform to impact the US economy, frustrating traders betting on Trump administration stimulus and a stronger … Read more »

MYOB’s NZ business delivers 23% gain in revenue in 2016

Article – BusinessDesk

Feb. 23 (BusinessDesk) – MYOB, the Australian payment software developer, boosted revenue from its New Zealand division by 23 percent in a year when it continued to expand its portfolio with Kiwi acquisitions. Read more »

Air New Zealand more upbeat about future

Article – BusinessDesk

Feb. 23 (BusinessDesk) – Air New Zealand expects revenues to improve over the second half and into the following financial year as competition shows signs of stabilising. Read more »

Gentrack sees first-half revenue up 20%

Article – BusinessDesk

Feb. 23 (BusinessDesk) – Gentrack expects first-half sales to rise about a fifth as a number of projects came on stream in the period, making up for any headwinds from a strong New Zealand dollar. Read more »

Govt bows to pressure, adopts ‘swimmable’ target for rivers

Article – BusinessDesk

Feb. 23 (BusinessDesk) – The government has made an election year change to its goals for the quality of water in New Zealand’s lakes and rivers, moving from a minimum standard of all water bodies being “wadeable” and adopting instead a target of 90 … Read more »

Warehouse to cut a net 130 jobs in organisational shake-up

Article – BusinessDesk

Feb. 23 (BusinessDesk) – Warehouse Group expects to shed a net 130 jobs, or about 1.1 percent of its workforce, in an effort to save up to $20 million a year after slimming down the structure of its retail model to try to strip out duplication. Read more »

Living Cell Technologies reports wider 1H loss

Article – BusinessDesk

Feb. 22 (BusinessDesk) – Living Cell Technologies, the ASX-listed biotech company with New Zealand-based operations, reported a wider loss in the six months to Dec 31 on increased research and development Read more »

SLI first-half loss more than doubles on strong kiwi

Article – BusinessDesk

Feb. 23 (BusinessDesk) – SLI Systems more than doubled its first-half loss as a strong New Zealand dollar and the loss of three major customers at the end of the 2016 financial year continued to weigh on earnings Read more »

NZ dollar gains vs Aussie after weak 4Q business investment

Article – BusinessDesk

Feb. 23 (BusinessDesk) – The New Zealand dollar rose against the Australian dollar on the back of some weak business investment data across the Tasman and gained against the greenback. Read more »

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