Smiths City to write down unprofitable stores by $4.8M

Article – BusinessDesk

April 17 (BusinessDesk) – Smiths City Group will write down several unprofitable stores by $4.8 million as the rebranded Auckland stores struggle to gain traction with an unfamiliar clientele, pushing the retailer into the red for the current financial … Read more »

Big wet spurs third earnings guidance upgrade for Mercury

Article – BusinessDesk

April 17 (BusinessDesk) – Electricity generator and retailer Mercury NZ raised annual earnings guidance fpr a third time as persistent wet weather in the central North Island swelled the electricity generator-retailer’s hydro scheme. Read more »

Mercury Q3 Operating Statistics & Guidance Update

Press Release – Mercury Energy

Mercury announced today that it has lifted its FY2018 EBITDAF guidance from $530 million to $540 million. This is due to an expected 150 GWh increase in full year forecast hydro generation due to continued wet weather in the Taupo area. Annual … Read more »

Zespri says Gold3 licensing to generate up to $195M in 2018

Article – BusinessDesk

April 16 (BusinessDesk) – Zespri Group said corporate revenue from the 2018 allocation of the Gold3 license release will be $190 million to $195 million, or around $253,000-to-$260,000 per hectare, a figure that is up on the prior year. Read more »

No earnings impact from Rolls Royce engine checks: Air NZ

Article – BusinessDesk

Some travel disruption but no earnings impact from Rolls Royce engine checks, says Air NZ Read more »

Chairman and incumbent director returned to board

Press Release – Silver Fern Farms

Rob Hewett and Fiona Hancox have been re-elected to the Silver Fern Farms Co-operative Limiteds Board of Directors. Read more »

Comvita advises of possible takeover

Article – BusinessDesk

April 16 (BusinessDesk) – Comvita, the NZX-listed manuka honey company, foreshadowed that it may be the subject of a takeover, with an unidentified third party currently undertaking due diligence to assess the business. Read more »

Ellerston Capital sees Fletcher as a turnaround story

Article – BusinessDesk

Ellerston Capital, with interest in 5.1% Fletcher stake, sees builder as a turnaround story Read more »

Genesis Energy nabs former ASB CEO Barbara Chapman

Article – BusinessDesk

April 16 (BusinessDesk) – Genesis Energy, New Zealand’s largest electricity generator and retailer by customers, has lured former ASB Bank chief executive Barbara Chapman onto its board, replacing John Leuchars, who is leaving after a six-year stint as … Read more »

Barbara Chapman appointed as Genesis director

Press Release – Genesis

The Genesis Energy Board is pleased to announce the appointment of Barbara Chapman as a non-executive director of Genesis Energy. Barbara Chapman will replace John Leuchars, who is retiring after completing six years on the Board. Read more »

ACC tops up holding of beat-up MetroGlass shares

Article – BusinessDesk

April 13 (BusinessDesk) – Accident Compensation Corp has topped up its holding of Metro Performance Glass, taking advantage of a stock that has shed almost two-thirds of its value in the past 17 months and touched a record low last month. Read more »

Powerhouse cancels stock offer

Article – BusinessDesk

April 13 (BusinessDesk) – ASX-listed incubator Powerhouse Ventures has dumped plans to raise A$5.8 million in a one-for-one rights issue, accepting less than a third as much from two major shareholders offering a lifeline. Read more »

Fletcher stock jumps 13%

Article – BusinessDesk

April 13 (BusinessDesk) – Fletcher Building shares jumped 13 percent after the Sydney Morning Herald reported that Wesfarmers has acquired a small stake in the company in a possible precursor to a full takeover. Read more »

Chorus slows customer loss in March quarter

Article – BusinessDesk

April 13 (BusinessDesk) – Chorus continued to slow its customer loss as households ditch their copper services in favour of fibre, with total fixed-line connections slipping 1 percent. Read more »

Europcar New Zealand has strong market position

Press Release – Europcar

Europcar New Zealand, a major player in mobility markets, has been experiencing strong growth and with projected visitor numbers to the country, the global leader in car rental expects to grow even bigger this year. Read more »

Serko Expands North American Presence

Press Release – Serko

Serko Expands North American Presence with Industry Veteran Tony DAstolfo Auckland, New Zealand. 12 April 2018 Serko Ltd . ( NZX:SKO ), a leader in online travel booking and expense management for business, today announced the further expansion … Read more »

CDL Investments would avoid a fourth waiver from listing rule

Article – BusinessDesk

CDL Investments would avoid a fourth waiver from listing rules if NZX lowered free-float boom Read more »

Shephard Dunphy join BDO fold

Article – BusinessDesk

April 11 (BusinessDesk) – Wellington insolvency firm Shephard Dunphy has thrown its lot in with BDO, making the accounting firm the country’s third-biggest insolvency practice and providing it a ready-made foothold in the capital city. Read more »

Powerhouse plans to double shares on issue in offer

Article – BusinessDesk

Powerhouse plans to double shares on issue in offer to raise up to A$5.8 mln Read more »

Transpower releases 2017/18 Interim Report

Press Release – Transpower

Transpower New Zealand today released its Interim Report and Review for the 2017/18 financial year. Read more »

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