Delegat FY profit rises 3% as bigger volumes trump kiwi

Article – BusinessDesk

Aug. 29 (BusinessDesk) – Delegat Group, New Zealand’s largest listed wine company, increased annual profit 3 percent as record volumes muted the impact of a stronger local currency. Read more »

Scales first-half profit falls on European apple price fall

Article – BusinessDesk

Aug. 29 (BusinessDesk) – Scales Corp, the listed fruit and vegetables logistics company, said first-half profit fell 22 percent from a year earlier, reflecting lower apple prices and the one-off costs of its NZX listing. Read more »

NZ Post annual profit falls 12%

Article – BusinessDesk

Aug. 29 (BusinessDesk) – New Zealand Post, the state-owned mail delivery service and trading bank owner, reported a 12 percent fall in annual profit as shrinking mail volumes were offset by gains in its Kiwibank and parcel businesses. Read more »

Pumpkin Patch takes $12 mln charge against stores, IT system

Article – BusinessDesk

Aug. 29 (BusinessDesk) – Pumpkin Patch, which slashed its earnings forecast earlier this year, will take a $12 million charge to write down the value of stores and IT software, while posting underlying profit in line with guidance. Read more »

NZ dollar slips as better US economic data buoys greenback

Article – BusinessDesk

Aug. 29 (BusinessDesk) – The New Zealand dollar slipped as the US dollar edged up following better-than-expected US economic data which lifted optimism about a recovery in the world’s largest economy. Read more »

While you were sleeping: Ukraine tension lifts bonds

Article – BusinessDesk

Aug. 29 (BusinessDesk) – Stocks fell, while US Treasuries rose, as concern about intensifying tension in Ukraine outweighed further evidence that the American economy is gathering strength. Read more »

MARKET CLOSE: NZ shares slip from record led by Spark

Article – BusinessDesk

Aug. 28 (BusinessDesk) – New Zealand shares fell from a record, led by Spark New Zealand, as investors locked in gains ahead of next month’s general election, which is creating some uncertainty in markets. Air New Zealand rose for a second day after … Read more »

NZ dollar holds gains as Aust capex beats expectations

Article – BusinessDesk

Aug. 28 (BusinessDesk) – The New Zealand dollar held gains today after Australian capital expenditure figures beat expectations, adding to optimism about the local economy after Fonterra Cooperative Group affirmed its forecast payout to farmers … Read more »

Hellaby sinks into the red on footwear writedown

Article – BusinessDesk

Aug. 28 (BusinessDesk) – Hellaby Holdings, the diversified investment company, sank into the red in the latest financial year as it wrote down the value of its footwear unit in a flat retail market. Still, it sweetened its dividend as underlying earnings … Read more »

NZX names new market “NXT” as it awaits FMA go-ahead

Article – BusinessDesk

Aug. 28 (BusinessDesk) – NZX, the stock market operator, has revealed its new market with lighter disclosure requirements will be called NXT, as it waits on the final go-ahead from the Financial Markets Authority. Read more »

Jetstar loses ground in NZ as Qantas plunges to A$2.84B loss

Article – BusinessDesk

Aug. 28 (BusinessDesk) – Jetstar, the discount unit of Australian airline Qantas Airways, lost ground in New Zealand, while claiming better yields on key routes, as its parent plunged into the red after slashing the value of its international … Read more »

BCS Group leads TIN-100 manufacturing burst in 2014

Article – BusinessDesk

Aug. 28 (BusinessDesk) – Baggage handling software and systems manufacturer BCS Group is the stand-out performer in the 2014 TIN-100 annual report on high tech New Zealand companies, growing total revenues 43 percent to more than $140 million in the latest … Read more »

Airports Association wants regulator to probe Air NZ charges

Article – BusinessDesk

Aug. 28 (BusinessDesk) – The New Zealand Airports Association has called on the Commerce Commission to regulate Air New Zealand’s regional fares, where the national carrier has an effective monopoly. Read more »

Airwork annual profit climbs 52 percent, beating forecast

Article – BusinessDesk

Aug. 28 (BusinessDesk) – Airwork Holdings, the aviation services firm which listed last December, boosted annual profit 52 percent on the strength of its helicopter engineering unit, beating guidance. The shares gained. Read more »

A2 Milk to use Australian cash for global expansion

Article – BusinessDesk

Aug. 28 (BusinessDesk) – A2 Milk Co, which markets milk with a protein variant said to have health benefits, will ramp up its expansion in the US, the UK and Asia using cash generated in its biggest market of Australia after a year in which a strong … Read more »

Westland cuts forecast payout on falling global dairy prices

Article – BusinessDesk

Aug. 28 (BusinessDesk) – Westland Milk Products, the Hokitika-based dairy cooperative, has overtaken rival Fonterra Cooperative Group in cutting its forecast payout to farmers, citing falling global dairy prices and the persistent strength in the kiwi … Read more »

NZ dollar buoyed by Fonterra plans to expand capacity

Article – BusinessDesk

Aug. 28 (BusinessDesk) – The New Zealand dollar rose after Fonterra Cooperative Group yesterday said it would maintain its milk price forecast, expand its local processing capacity and form a partnership to help sell its products in China, New Zealand’s … Read more »

While you were sleeping: Eyes on ECB

Article – BusinessDesk

Aug. 28 (BusinessDesk) – Investors flocked to a US auction of US$35 billion in five-year notes as European bond yields sank to record lows amid bets that the European Central Bank will add more stimulus in an effort to prop up the flagging euro-zone economy. Read more »

MARKET CLOSE: NZ shares rise to record, led by Pacific Edge

Article – BusinessDesk

MARKET CLOSE: NZ shares rise to record as investors hunt yield, led by Pacific Edge Read more »

TeamTalk posts full-year loss on Farmside charge

Article – BusinessDesk

Aug. 27 (BusinessDesk) – TeamTalk, the listed telecommunications company, posted a full-year loss after writing down goodwill on its Farmside rural unit, a charge that required the cooperation of its lender to avoid a covenant breach. Read more »