Archive for the 'Article' Category

NZ meat industry tie-up stumbled on differing strategies

Article – BusinessDesk

Aug. 21 (BusinessDesk) – New Zealand meat companies abandoned efforts to consolidate and reduce surplus capacity last year because they lacked an agreed export strategy and farmers wouldnt commit stock to firms that closed plants, industry sources … Read more »

NZ consumer confidence sinks to 10-month low

Article – BusinessDesk

Aug. 21 (BusinessDesk) – New Zealand consumer confidence fell to a 10-month low in August, suggesting rising interest rates, weaker commodity prices and waning house price inflation are denting sentiment in an economy that may be growing at a slower … Read more »

UPDATE: Skellerup stock falls as earnings miss forecasts

Article – BusinessDesk

Aug. 21 (BusinessDesk) – Shares in Skellerup Holdings declined after the industrial rubber goods maker missed analyst estimates for annual profit. Read more »

Port of Tauranga posts 1.3% gain in FY profit as logs rise

Article – BusinessDesk

Port of Tauranga posts 1.3% gain in full-year profit as container volumes fall, logs rise Read more »

NZ annual migration at 11-year high in July

Article – BusinessDesk

Aug. 21 (BusinessDesk) – New Zealand’s annual migration extended its decade highs in July, with the inflow continuing to surpass Treasury and Reserve Bank expectations. Read more »

CORRECT: Marsden Maritime censured over council vote

Article – BusinessDesk

Aug. 21 (BusinessDesk) – Marsden Maritime Holdings, formerly known as Northland Port Corp, has been publicly censured by the stock market’s disciplinary tribunal, which said Northland Regional Council was a related entity and shouldn’t have participated … Read more »

Tenon returns to profit on US building activity

Article – BusinessDesk

Tenon returns to profit on US building activity, will use surplus cash for share buyback Read more »

AMP’s NZ financial services lift 1H earnings 5% on KiwiSaver

Article – BusinessDesk

Aug. 21 (BusinessDesk) – AMP’s New Zealand financial services unit lifted first-half earnings as it increased KiwiSaver cashflows and boosted funds under management, while improving its margins. Read more »

Skellerup doubles annual profit on quake payout

Article – BusinessDesk

Aug. 21 (BusinessDesk) – Skellerup Holdings, the industrial rubber goods maker, more than doubled annual profit following an insurance payout from the Canterbury earthquakes. Read more »

Marsden Maritime censured over council vote on fees

Article – BusinessDesk

Aug. 21 (BusinessDesk) – Marsden Maritime Holdings, formerly known as Northland Port Corp, has been publicly censured by the stock market’s disciplinary tribunal, which said Northland Regional Council was a related entity and shouldn’t have participated … Read more »

NZ dollar falls as US dollar rises after upbeat FOMC minutes

Article – BusinessDesk

Aug. 21 (BusinessDesk) – The New Zealand dollar declined as the US dollar strengthened after minutes to the Federal Reserve’s last meeting were more upbeat than expected about the world’s largest economy. Read more »

While you were sleeping: Rate chatter rises

Article – BusinessDesk

Aug 21 (BusinessDesk) – Wall Street advanced, while US Treasuries fell as investors await Federal Reserve Chair Janet Yellens speech this Friday at the annual gathering of the worlds top central bankers in Jackson Hole for her take on the outlook … Read more »

Ports of Auckland FY profit almost doubles as volumes rise

Article – BusinessDesk

Aug. 20 (BusinessDesk) – Ports of Auckland posted a 90 percent gain in full-year profit, after lifting volumes of containers and breakbulk freight while reining in costs and using offsets to reduce its tax bill. Read more »

MARKET CLOSE: NZ stocks rise; Fletcher, Trade Me gain

Article – BusinessDesk

Aug. 20 (BusinessDesk) – New Zealand shares rose as Fletcher Building and Trade Me Group beat full-year profit guidance. Energy companies fell on weaker political polls ahead of next month’s election. Read more »

NZ dollar falls as greenback rises amid weak dairy, rates

Article – BusinessDesk

NZ dollar falls as greenback rises; weak dairy, pause in rate hikes weigh on sentiment Read more »

Colonial Motor Co FY profit soars 38% to record

Article – BusinessDesk

Aug. 20 (BusinessDesk) – Colonial Motor Co, the car and tractor dealer, said annual profit rose 38 percent to a record amid growing sales of new vehicles. Read more »

South Port posts record annual profit as volumes rise

Article – BusinessDesk

Aug. 20 (BusinessDesk) – South Port New Zealand, the Bluff port operator, lifted annual profit 2.7 percent to a record as increased volumes of stock food and logs drove cargo growth. Read more »

Deutsche rates Xero a ‘sell’ with target price of $18.90

Article – BusinessDesk

Aug. 20 (BusinessDesk) – Shares of Xero, the cloud-based accounting software firm, are overvalued on US growth prospects and have been rated a ‘sell’ by Deutsche Bank as it initiates coverage of the company. Read more »

Partial post-Hager poll shows National holding steady

Article – BusinessDesk

Aug. 20 (BusinessDesk) – The first poll to test voter reaction to last week’s publication of the “Dirty Politics” book shows the government maintaining its lead over the Labour Party, rising 2 percentage points to 48 percent, while Labour has … Read more »

F&P Healthcare lifts full-year profit guidance 3%

Article – BusinessDesk

Aug. 20 (BusinessDesk) – Fisher & Paykel Healthcare raised its annual profit forecast by 3 percent, saying the New Zealand dollar is boosting the value of respiratory and breathing apparatus sold overseas. The shares rose to the highest in at least … Read more »

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