Veritas to book Nosh losses in annual accounts

Article – BusinessDesk

Feb. 28 (BusinessDesk) – Veritas Investments will book after-tax losses of between $2.2 million and $2.6 million on the sale of its upmarket Nosh supermarkets in its annual accounts, which it anticipates will bolster underlying earnings for the year, … Read more »

Scales lifts 2016 annual profit 6% on business expansion

Article – BusinessDesk

Feb. 28 (BusinessDesk) – Scales Corp, New Zealand’s biggest apple exporter, boosted profit 6 percent as it benefited from expanding its business. Read more »

NZ Refining annual profit drops 69% from a record year

Article – BusinessDesk

NZ Refining annual profit drops 69% from a record year with margins weaker in 2016 Read more »

AIA Delivers Another Excellent Set of Results

Press Release – AIA Group

AIA Group has announced its annual results for the year ended 30 November 2016 please refer attached for the full media release. Notably, New Zealand has played its part to help the Group in delivering excellent results. AIA New Zealand continued … Read more »

FIRST CUT: Genesis Energy first-half earnings fall 11%

Article – BusinessDesk

Feb. 28 (BusinessDesk) – Genesis Energy, the country’s biggest electricity retailer, posted an 11 percent decline in first-half earnings as cheap oil and a wet spring kept wholesale prices low, offsetting better margins on the retail side of the business. Read more »

Scales Corporation Delivers Record Underlying Profit

Press Release – Scales Corporation Ltd

FY2016 financial results set new Group record: o Net Profit for the Year of $38.2 million, 6 per cent above FY2015 (Restated). o Underlying Net Profit[1] of $38.6 million, 11 per cent above FY2015 (Restated). o Underlying EBITDA[2] of $67.9 million, … Read more »

Seeka delivers record $10.4m profit for 2016

Press Release – Seeka

Te Puke, 27 February — Seeka (NZX-SEK) has announced an audited net profit after tax of $10.4 million for the 12 months to 31 December, 2016, up 143 per cent on the previous corresponding period (PCP). Turnover increased 24 per cent to $229.4 million, … Read more »

Metlifecare’s Sowry: ‘little bit of softening’ in property

Article – BusinessDesk

Metlifecare’s Sowry sees ‘little bit of softening’ in property market, no let-up on costs Read more »

Marsden Maritime lifts first-half profit 21%

Article – BusinessDesk

Feb. 27 (BusinessDesk) – Marsden Maritime, which owns half of the Marsden Point-based Northport along with a marina, commercial facilities and land, lifted first-half profit 21 percent on increased cargo volumes going through the port. Read more »

Mercer narrows first-half loss, predicts stronger 2H

Article – BusinessDesk

Feb. 27 (BusinessDesk) – Mercer Group, the stainless steel fabricator, posted a $2.6 million loss in the first half, but said it’s anticipating a return to positive pre-tax earnings for the second half despite the “disappointing” start. Read more »

Airwork 1H profit up 9.5% as Rifa takeover offer passes 75%

Article – BusinessDesk

Feb. 27 (BusinessDesk) – Airwork Holdings, the Auckland-based aircraft services business, lifted profit 9.5 percent in the first half as it awaits the outcome of a partial takeover offer from Chinese group Zhejiang Rifa Holding Group. Read more »

Delegat lifts 1H profit 17%

Article – BusinessDesk

Feb. 27 (BusinessDesk) – Delegat Group, New Zealands largest listed winemaker, lifted operating profit 17 percent in the first half and is predicting annual profit to be in line with last year. Read more »

Rocky ride into data deluge

Article – CMC Markets

The close of the Australian corporate reporting season brings no respite for investors. Pressure on European shares and weakening oil prices could see a negative start to Asia Pacific trading, ahead of a week full of local and international data releases. Read more »

Metlifecare 1H profit jumps 31%

Article – BusinessDesk

Feb. 27 (BusinessDesk) – Metlifecare’s first-half profit jumped by almost a third as the country’s housing boom bolstered the value of the retirement village operator’s property portfolio and fattened its margins for unit sales. Read more »

Performance highlights for the 6 months to 31 December 2016

Press Release – Metlifecare

Metlifecare today announced a record half-year result for the six months to 31 December 2016. Read more »

UPDATE: CBL shares drop 11% after earnings fall short

Article – BusinessDesk

Feb. 24 (BusinessDesk) – CBL Corp shares tumbled 11 percent after the credit surety and financial risk insurance company posted full-year earnings that missed some market expectations and included one-time costs that weren’t projected in its prospectus. Read more »

Transformation delivers results despite earthquake

Press Release – KiwiRail

The Kaikoura earthquake and lower bulk milk volumes have impacted KiwiRails half yearly result but Chief Executive Peter Reidy says he is pleased that despite these challenges, the State Owned Enterprise has still achieved its commitment to Government … Read more »

CBL annual profit falls 14% as expansion costs weigh

Article – BusinessDesk

Feb. 24 (BusinessDesk) – CBL Corp, the NZX-listed company that sells credit surety and financial risk insurance, posted a 14 percent drop in annual profit, missing its prospectus forecast, due to costs associated with its expansion. Read more »

Creating Growth Opportunities

Press Release – Vector Limited

New Zealands leading energy infrastructure company Vector today announces improved earnings as it continues to deploy new technologies to give choice and control to its customers and create new opportunities for growth. Read more »

NZME reports little changed FY pro forma net profit

Article – BusinessDesk

Feb. 24 (BusinessDesk) – NZME, the New Zealand media group awaiting Commerce Commission approval to acquire Fairfax Medias local assets, reported a steady full-year pro forma net profit as challenging advertising markets were helped by a strong growth … Read more »

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