CBL watershed meeting deadline extended

Article – BusinessDesk

March 23 (BusinessDesk) – The CBL Corp saga will continue, with the company’s voluntary administrators postponing the creditors’ watershed meeting to gather more information and hiring Goldman Sachs as an adviser. Read more »

Tait Communications to upgrade London bus fleet

Article – BusinessDesk

March 23 (BusinessDesk) – Christchurch-based Tait Communications has won a contract worth $30 million over several years to replace the British capital citys bus radio communications system with a new digital mobile radio system aimed at preparing … Read more »

Allied Farmers to net $441,137

Press Release – BusinessDesk

Allied Farmers to net $441,137 for receivable as PVL liquidator drops suit against directors Read more »

Fonterra fails – again – to cash in on dairy value-added

Article – BusinessDesk

March 22 (BusinessDesk) – The contrast between Synlait Milk’s record first-half profit and Fonterra Cooperative Group’s interim loss suggest the world’s largest dairy exporter hasn’t just got trouble with Beingmate Baby & Child Food, but a long-running inability … Read more »

Briscoe Group ups investment in Kathmandu

Article – BusinessDesk

March 21 (BusinessDesk) – Briscoe Group participated in the capital raising announced by Kathmandu Holdings, buying 2.57 million shares from the institutional placement for a cost of $5.6 million. It also intends to participate in the share purchase … Read more »

PFI chair Peter Masfen to step down

Article – BusinessDesk

March 21 (BusinessDesk) – Property For Industry’s chair Peter Masfen will retire at the company’s annual meeting on May 8, to be replaced by deputy chair Anthony Beverley. Read more »

Kathmandu raises $40M for US footwear purchase

Article – BusinessDesk

March 21 (BusinessDesk) – Kathmandu Holdings, the outdoor equipment retailer, successfully raised $40 million through an institutional share placement of approximately 18.5 million new fully paid ordinary shares, it said in a release to the stock exchange. Read more »

Fonterra takes $405M Beingmate charge, posts 1H loss

Article – BusinessDesk

March 21 (BusinessDesk) – Fonterra Cooperative Group slashed $405 million off the carrying value of its investment in Beingmate Baby & Child Food, calling the performance of its Chinese partner “unacceptable”. The writedown and a … Read more »

Synlait posts record profit, forecasts FY earnings growth

Article – BusinessDesk

Synlait posts record first-half net profit, forecasts FY earnings growth on infant formula sales Read more »

Fonterra Announces 2018 Interim Results

Press Release – Fonterra

Fonterra Co-operative Group Limited today increased its forecast Farmgate Milk Price for the 2017/18 season to $6.55 per kgMS and announced a full year forecast dividend range of 25 – 35 cents per share with an interim dividend of 10 cents per share. Read more »

Synlait Announces Record Half Year Profit

Press Release – Synlait

Synlait Milk (NZX: SML; ASX: SM1) has reported a half year net profit after tax (NPAT) of $40.7 million for the six months ending 31 January 2018. Read more »

Volution Group acquires leading ventilation company, Simx

Press Release – Minter Ellison Rudd Watts

UK-based manufacturing and distributing company, Volution Group has acquired Simx Limited – a leading New Zealand designer, manufacturer and supplier of residential ventilation products – for NZ$72 million. Read more »

NPT shareholders greenlight sale of management contract

Article – BusinessDesk

March 19 (BusinessDesk) NPT shareholders voted in favour of Augusta Capital buying the real estate investor’s management contract for $4.5 million at a special meeting today in Auckland. Read more »

Veritas cuts 2018 guidance following Mad Butcher sale

Article – BusinessDesk

March 19 (BusinessDesk) – Veritas Investments has cut its 2018 guidance after shareholders voted to sell the business and assets of the Mad Butcher franchisor to its chief executive Michael Morton. Read more »

Veritas shareholders vote in favour of Mad Butcher sale

Article – BusinessDesk

March 16 (BusinessDesk) – Veritas Investments shareholders voted to sell the business and assets of the Mad Butcher franchisor to its chief executive Michael Morton for $8 million at a special meeting held today in Auckland. Read more »

Failed fashion chain overstated value of inventory

Article – BusinessDesk

March 16 (BusinessDesk) – Andrea Moore & Co, the clothing chain that failed in January, “significantly overstated” the value of inventory on its balance sheet and in its stock system, according to receivers McGrathNicol. Read more »

UPDATE: NZ dairy manufacturer plans to list on ASX

Article – BusinessDesk

UPDATE: NZ dairy manufacturer plans to list on ASX to raise up to A$20M for expansion (Adds detail throughout) By Tina Morrison Read more »

NZME CFO Michael Moran resigns for ‘personal reasons’

Article – BusinessDesk

March 16 (BusinessDesk) – NZME chief financial officer Michael Moran has resigned from the newspaper publisher and radio station operator for “personal reasons” after a year in the role. Read more »

Liquidator of UBNZ Assets: BMW secured as criminal proceeds

Article – BusinessDesk

March 15 (BusinessDesk) – UBNZ Assets Holdings, the dairy investment company set up for an unsuccessful attempt to acquire the Crafar farms in 2010, has a BMW vehicle that is still subject to a restraining order under the Criminal Proceeds (Recovery) … Read more »

Ebos hires Telstra’s Shaun Hughes as chief financial officer

Article – BusinessDesk

Ebos hires Telstra’s Shaun Hughes as chief financial officer after promoting Cullity to CEO Read more »

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