NZ wool prices hold at elevated levels as volumes decline

Article – BusinessDesk

May 29 (BusinessDesk) – New Zealand wool prices remained elevated at auction this week, with lamb wool touching a fresh four-year high, as less wool was offered for sale. Read more »

SeaDragon sinks into the red on rising factory cost

Article – BusinessDesk

May 29 (BusinessDesk) – SeaDragon, which manufactures fish oil for health supplements, sank into the red in the latest financial year as ballooning costs for its Omega-3 fish oil refinery offset sales that more than doubled. Read more »

Smartpay profit falls as Aussie customer quits on cab deal

Article – BusinessDesk

Smartpay profit falls 9.5% as foray into Aussie cab market costs it major contract Read more »

CPA Australia takes defamation action against rival NZ body

Article – BusinessDesk

May 29 (BusinessDesk) – CPA Australia is taking defamation action against The New Zealand Institute of Chartered Accountants, alleging its rival made false and defamatory statements, alleging “inferior” education standards, lack of global affiliations, … Read more »

Dorchester Property investors vote bid to dump manager

Article – BusinessDesk

May 29 (BusinessDesk) – Unitholders in the Dorchester Property Trust have rejected a resolution from one of the investors to dump the manager of the hotel investor which was spun out five years ago from the financier and insurer formerly known as … Read more »

NZ business confidence falls to lowest level since September

Article – BusinessDesk

May 29 (BusinessDesk) – New Zealand business confidence slid to its lowest level since the general election last year as optimism about the economy waned and inflation expectations fell to a historic low. Read more »

Caniwi snaps up another Wellington student apartment complex

Article – BusinessDesk

May 29 (BusinessDesk) – Wellington-based investment firm Caniwi Capital has paid $33.3 million to acquire a newly refurbished Victoria University student accommodation block formerly housing ANZ Bank operations in the Wellington central business district. Read more »

Powerco’s annual profit falls 20% as it pays more tax

Article – BusinessDesk

May 29 (BusinessDesk) – Powerco, the energy lines company, reported a 20 percent drop in annual profit as it paid more tax and didn’t realise gains on financial instruments. Read more »

UPDATE: F&P Healthcare says earnings will increase this year

Article – BusinessDesk

May 29 (BusinessDesk) – Fisher & Paykel Healthcare, the medical device maker, beat its forecast for annual profit and said earnings would rise further in the coming year. Read more »

UPDATE: F&P Healthcare says earnings will increase this year

Article – BusinessDesk

May 29 (BusinessDesk) – Fisher & Paykel Healthcare, the medical device maker, beat its forecast for annual profit and said earnings would rise further in the coming year. Read more »

Sealegs FY loss widens on restructuring costs, impairments

Article – BusinessDesk

May 29 (BusinessDesk) – Sealegs Corp, the amphibious vehicle maker whose founder had to step in fill the vacant chief executive position last November, reported a wider annual loss in the latest financial year as an overhaul of the business resulted … Read more »

NZ building consents fall in April, apartment permits soar

Article – BusinessDesk

May 29 (BusinessDesk) – New Zealand building consents fell in April, after the previous month’s strong gain, as intentions to build houses decreased, while apartment permits climbed on the back of demand in Auckland for affordable housing. Read more »

CORRECT: Auditor-General probes former SFO boss Feeley

Article – BusinessDesk

CORRECT: Auditor-General probes former SFO boss Feeley over family interests in Queenstown housing accord Read more »

Auditor-General probes former SFO boss’s housing accord link

Article – BusinessDesk

May 29 (BusinessDesk) – Auditor-General Lyn Provost has launched an inquiry into how Queensland Lakes District Council and its chief executive, former Serious Fraud office boss Adam Feeley, managed his interest in family-owned land being considered … Read more »

Hellaby sells packaging division to Coveris for about $30M

Article – BusinessDesk

May 29 (BusinessDesk) – Hellaby Holdings, the NZX-listed diversified investment company, has sold its packaging division to Coveris, one of the worlds largest plastic packaging and coatings companies. Read more »

Cooperative Bank lifts annual profit 24% on expanding loans

Article – BusinessDesk

May 29 (BusinessDesk) – The Cooperative Bank, formerly known as PSIS, lifted annual profit 24 percent for a second year as it continued to expand its loan book, reduce bad debts, and fatten margins. Read more »

IkeGPS expects to perform to prospectus in 2016

Article – BusinessDesk

May 29 (BusinessDesk) – IkeGPS, the laser measurement tool developer, expects to meet its prospectus forecasts in 2016, despite under-performing on sales and running a month late on its new product rollout in the year ended March 31. Read more »

Veritas slashes profit guidance by 19% as Nosh stalls

Article – BusinessDesk

May 29 (BusinessDesk) – Veritas Investments, the food and beverage investor, has slashed its full year profit guidance 19 percent, blaming a slower than expected turnaround in its gourmet supermarket chain, Nosh Food Market, and tighter drink-driving … Read more »

F&P Healthcare beats annual profit forecasts

Article – BusinessDesk

May 29 (BusinessDesk) – Fisher & Paykel Healthcare, the medical device maker, beat its forecast for annual profit and said earnings would rise further in the coming year. Read more »

NZ dollar drops to four-year low on low Fonterra forecast

Article – BusinessDesk

NZ dollar drops to four-year low on concern low Fonterra payout will dent economy Read more »