BP’s NZ profit climbs 65% to $243M in 2017

Article – BusinessDesk

BP’s NZ profit climbs 65% to $243M in 2017 as govt scrutinises fuel industry pricing Read more »

Fletcher’s Laminex exits 10-year investment in Southland MDF

Article – BusinessDesk

Fletcher’s Laminex exits 10-year investment in Southland MDF plant with sale to Daiken Read more »

Scott Technology conditionally agrees to buy Transbotics

Article – BusinessDesk

May 31 (BusinessDesk) – Scott Technology has entered a conditional agreement to buy Transbotics, a US-based automated guided vehicle manufacturer. No price was disclosed. Read more »

Tencent Mobility snaps up Grinding Gear Games

Article – BusinessDesk

May 31 (BusinessDesk) – Hong Kong-listed Tencent Mobility was granted Overseas Investment Office approval to buy up to 100 percent of video game developer Grinding Gear Games for more than $100 million. Read more »

2degrees lifts profit 33% in 2017 on increased revenue

Article – BusinessDesk

May 31 (BusinessDesk) – Telecommunications provider Two Degrees Mobile lifted net profit 33 percent in 2017, with revenue gains outpacing costs and the bottom line boosted by tax credits. Read more »

Rio Tinto’s Tiwai Point triples annual earnings

Article – BusinessDesk

May 31 (BusinessDesk) – Rio Tinto’s Pacific Aluminium (New Zealand) unit tripled annual earnings from its controlling stake in the aluminium smelter at Tiwai Point on stronger metal prices, although it anticipates higher transmission costs from … Read more »

Restaurant Brands 1Q sales rise 12%

Article – BusinessDesk

May 31 (BusinessDesk) – Restaurant Brands New Zealand lifted first-quarter sales 12 percent after the fast-food operator acquired a further 13 KFC stores in Australia. Read more »

Sharesies celebrates first year in business

Press Release – Sharesies

Online investment platform sees 15,410 customers sign up and $15.7m invested in 12 months Read more »

IkeGPS narrows annual loss through sales growth

Article – BusinessDesk

May 31 (BusinessDesk) – IkeGPS, the unprofitable laser measurement tool maker, narrowed its annual loss after lifting sales 37 percent and cutting a fifth from its wage bill, and is optimistic positive cash flow generated in the fourth quarter will persist, … Read more »

Zeffer to launch 2nd capital raise to accelerate growth

Press Release – Zeffer Cider

New Zealands largest independent, dedicated cider producer, Zeffer Cider Co. has gone from strength to strength in the wake of a successful NZD$1.2million funding round last year – and is now seeking additional investment to capitalise on plans … Read more »

Contact Energy and Infratec team up to power business

Press Release – Contact Energy

Contact Energy and Infratec are teaming up to help more Kiwi businesses make the leap to low carbon energy by offering them end-to-end renewable generation, battery storage, and energy management solutions. Read more »

Drug for two leading causes of NZ blindness now funded

Press Release – Bayer NZ

Treatment to tackle the countrys two leading causes of blindness now funded on the Pharmaceutical Schedule Read more »

MediaWorks bets on local talent in prime time

Article – BusinessDesk

May 30 (BusinessDesk) – MediaWorks Investments says rebranding its TV product, and an obsessive focus on prime time local content and the 25-54 demographic will see the company move back to profitability – potentially this year. Read more »

Budget Loans fined $720K for “cynical” repossession tactics

Press Release – Commerce Commission

Finance companies Budget Loans Limited and Evolution Finance Limited (together Budget Loans) have been fined $720,000 in the Auckland District Court, on 125 charges under the Fair Trading Act. Read more »

New Supermarket opens in Niue

Press Release – Swansons Supermarket

Shopping just got a whole lot easier for Niue locals and visitors! With the investment of New Zealand-owned family company W.H. Grove and Sons (WHG), who purchased Swansons in 2007, the island will officially open the doors to its brand-new supermarket, … Read more »

NYSE-listed Cigna to buy ANZ’s OnePath Life for $700 million

Article – BusinessDesk

NYSE-listed Cigna agrees to buy ANZ Bank NZ’s OnePath Life for $700 million Read more »

Supply pressure building in major world beef markets

Press Release – Rabobank

Its been a positive start to 2018 for the global beef sector with production and consumption up and prices generally favourable however, building pressures in some of the worlds major beef-producing nations have the potential to change … Read more »

Plexure shares soar 26% on revenue gains, cost cutting

Article – BusinessDesk

May 30 (BusinessDesk) – Plexure Group shares jumped 26 percent as the mobile voucher firm started generating positive cash flow after slashing costs and building sales momentum. Read more »

Stride Property posts flat earnings

Article – BusinessDesk

May 30 (BusinessDesk) – Stride Property Group posted flat annual earnings as it beds in a new strategy and reshaped portfolio where it clips the ticket as a property manager as well as directly owning real estate. Read more »

Tilt says Citigroup, Forsyth Barr to underwrite A$300M raise

Article – BusinessDesk

May 30 (BusinessDesk) – Tilt Renewables has entered into an agreement with Citigroup Global Markets and Forsyth Barr Group to underwrite a A$300 million equity raising should it be successful in its bid for a 15-year power contract with the Victorian … Read more »

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