BUDGET 2016: Population-driven GDP growth

Article – BusinessDesk

May 26 (BusinessDesk) – Finance Minister Bill English has unveiled a rosier set of fiscal projections as the fastest population growth in 40 years drives economic growth and tax revenue, giving him room to spend more on health, law and order, and education … Read more »

Smartpay full-year profit slumps 86%

Article – BusinessDesk

May 26 (BusinessDesk) – Smartpay Holdings posted an 86 percent slump in annual profit after the payment terminal supplier lost a large Australian taxi contract just before the start of the financial year. Read more »

Sanford almost doubles first-half profit

Article – BusinessDesk

May 26 (BusinessDesk) – Sanford, the country’s largest listed fishing group, almost doubled its first-half profit as it focused on lifting values over volumes and benefited from lower fuel costs and a weaker New Zealand dollar. Read more »

King Country Energy attacks grid charge overhaul

Article – BusinessDesk

May 26 (BusinessDesk) – King Country Energy, the central North Island power generator and retailer, has warned the Electricity Authority’s planned overhaul of grid charges would both increase prices for its customers and leave it with little incentive to … Read more »

Sanford almost doubles first-half profit

Article – BusinessDesk

May 26 (BusinessDesk) – Sanford, the country’s largest listed fishing group, almost doubled its first-half profit as it focused on lifting values over volumes and benefited from lower fuel costs and a weaker New Zealand dollar. Read more »

Pacific Edge widens annual loss as it chases US growth

Article – BusinessDesk

May 26 (BusinessDesk) – Pacific Edge, the cancer diagnostics company, widened its annual loss as it invests to grow in the United States. Read more »

Energy Mad annual loss narrows as Australian sales surge

Article – BusinessDesk

May 26 (BusinessDesk) – Energy Mad, the energy efficient lightbulb marketer, narrowed its annual loss as Australian sales surged higher. Read more »

UPDATE: Fonterra’s 2017 opening forecast below expectations

Article – BusinessDesk

May 26 (BusinessDesk) – Fonterra Cooperative Group raised its forecast farmgate milk payout for next season by less than expected as the world’s largest dairy exporter predicts lower prices will crimp production and supply will pick up. The New Zealand … Read more »

Trilogy buys 25% of rosehip producer

Article – BusinessDesk

Trilogy buys 25% of rosehip producer in Chile for US$6 mln in cash, shares Read more »

Gentrack lifts first-half profit 23% as UK sales jump

Article – BusinessDesk

May 26 (BusinessDesk) – Gentrack Group lifted first-half profit 23 percent as sales from its UK division jumped with the signing of new customers and the software developer says annual revenue will climb at a faster pace than previously signalled. Read more »

NZX toughens enquiry process

Article – BusinessDesk

May 26 (BusinessDesk) – New Zealand’s stock exchange operator, NZX, is to start making confidential enquiries of listed companies that experience large, unexplained share price movements, to determine whether they may be holding undisclosed “material” … Read more »

AWF Madison full-year earnings fall 3.7%

Article – BusinessDesk

May 26 (BusinessDesk) – Costs associated with unwinding a joint venture in the Christchurch contract labour market contributed materially to AWF Madison reporting a “disappointing” $5.2 million profit for the year ended March 31, compared with $5.4 million a year … Read more »

Mainfreight FY profit rises 6.3%

Article – BusinessDesk

May 26 (BusinessDesk) – Mainfreight, the transport and logistics group, reported a 6.3 percent gain in full-year profit as improved trading in New Zealand, Asia and Europe was offset by weaker results in Australia and the Americas. Read more »

Metro Glass posts $20.5M maiden profit

Article – BusinessDesk

May 26 (BusinessDesk) – Metro Performance Glass posted a maiden full-year profit as a listed company that met guidance as the country’s largest glass processor benefited from increased construction activity while coping with what it called supply and … Read more »

Argosy lifts annual earnings 5%

Article – BusinessDesk

May 26 (BusinessDesk) – Argosy Property, the country’s fourth-biggest listed property investor by market value, lifted distributable earnings 5 percent as a shift in the company’s portfolio helped lift rental income. Read more »

Fonterra’s 2017 opening forecast below expectations

Article – BusinessDesk

May 26 (BusinessDesk) – Fonterra Cooperative Group’s first forecast for the 2016/17 farmgate milk price has come in below expectations at $4.25 per kilogram of milk solids and the world’s biggest dairy exporter will keep using its balance sheet to … Read more »

NZ dollar hits 3-month low vs sterling

Article – BusinessDesk

May 26 (BusinessDesk) – The New Zealand dollar hit a three-month low against the British pound as confidence builds that the country will vote to remain in the European Union, allaying fears about the impact on the economy. Read more »

Eroad posts $1.3 million annual loss, foresees 2017 growth

Press Release – BusinessDesk

May 26 (BusinessDesk) – Eroad, the logistics and fleet management company, posted an annual loss within its earlier guidance which it said was the result of more investment and US customer uncertainty. Read more »

NZ dollar gains on trade surplus

Article – BusinessDesk

NZ dollar gains as trade surplus delivers short-term fillip, Fed rate hike timing mulled Read more »

Transpower contemplates rise of storage capacity

Article – BusinessDesk

May 25 (BusinessDesk) – Transpower, the national grid operator, sees a swift and game-changing transformation of the way electricity is delivered to users by 2040 when it expects to see the widespread uptake of ‘extensive storage’ batteries that … Read more »