MARKET CLOSE: NZ shares fall, A2, Xero down on profit taking

Article – BusinessDesk

Nov. 25 (BusinessDesk) – New Zealand shares fell, driving the NZX 50 Index down from a record high, as investors cashed in recent gains in a2 Milk Co, which was cut to ‘underperform’ by an analyst, and companies including Xero. Read more »

Fonterra targets doubling of China revenue within five years

Article – BusinessDesk

Nov. 25 (BusinessDesk) – Fonterra Cooperative Group, the worlds largest dairy exporter, has set a target of becoming the number one dairy player in China and doubling its business in the country to $10 billion within the next five years. Read more »

Bid to trim Fonterra board size spurs hot shareholder debate

Article – BusinessDesk

Nov. 25 (BusinessDesk) – A proposal to slash the size of the Fonterra Cooperative Group board from 13 to nine came in for hot debate by shareholders at the cooperatives annual meeting in Waitoa today. Read more »

First NZ Capital Granted License

Press Release – First NZ Capital

CEO of First NZ Capital (FNZC) Scott St John is pleased to announce that FNZC has been granted a Discretionary Investment Management Service licence (DIMS) from the Financial Markets Authority (FMA) effective 30 November 2015. Read more »

Smartpay 1H profit slumps 90% after losing big taxi contract

Article – BusinessDesk

Nov. 25 (BusinessDesk) – Smartpay Holdings, the listed payment terminal supplier, reported a 90 percent slump in first half profit and is in the process of rebuilding its business after losing a major wholesale contract last year. Read more »

ERoad turns to first-half profit, affirms annual guidance

Article – BusinessDesk

Nov. 25 (BusinessDesk) – ERoad, the logistics and fleet management software and hardware developer, turned to a first-half profit from a loss a year earlier as gains in Australia and New Zealand made up for slower growth in North America. Read more »

A2 Milk cut to underperform at First NZ

Article – BusinessDesk

A2 Milk cut to underperform at First NZ as brokerage awaits proof Australian success can be replicated Read more »

King Country Energy rejects Trustpower two-tier offer

Article – BusinessDesk for Yahoo

Nov. 25 (BusinessDesk) – The independent directors of King Country Energy are urging the company’s 6,000 independent shareholders to reject Trustpower’s two-tier takeover offer, saying the whole offer should be pitched at $5 a share irrespective of uptake. Read more »

Orion Health first-half loss widens, sales climb

Article – BusinessDesk

Orion Health first-half loss widens in line with expectations as revenue climbs 26%, bolstered by weak kiwi Read more »

MARKET CLOSE: NZ shares rise as A2 Milk extends rally

Article – BusinessDesk

MARKET CLOSE: NZ shares rise as A2 Milk extends rally; Air NZ falls as yields weaken Read more »

Cavalier shareholder questions $470,000 CEO payment

Article – BusinessDesk

Nov. 24 (BusinessDesk) – A shareholder in carpet manufacturer Cavalier Corp has questioned the large termination payment made to former chief executive and managing director Colin McKenzie after the company reported its worst loss in history, stopped paying … Read more »

Tower posts loss on ballooning quake costs, hikes dividend

Article – BusinessDesk

Nov. 24 (BusinessDesk) – Tower, the general insurer, posted an annual loss as it prepares for more expensive claims from the Canterbury spate of earthquakes, but raised its dividend payout to reflect a stronger underlying earnings performance. Read more »

Cavalier expects annual profit to rise following restructure

Article – BusinessDesk

Nov. 24 (BusinessDesk) – Cavalier Corp expects annual earnings to rise this year as the New Zealand carpet maker restructures its business to boost profitability. Normalised profit is expected to be in the range of $3 million-to-$5 million in the … Read more »

Market Close:NZ shares climb to new record as a2,Ryman rally

Article – BusinessDesk

Market Close:NZ shares climb to new record as a2,Ryman rally By Paul McBeth Read more »

Fonterrra chairman John Wilson comfortably re-elected

Article – Businesswire

Nov. 23 (BusinessDesk) – Fonterra Cooperative Group shareholders have re-elected chairman John Wilson to the board despite speculation there has been a campaign to remove him from office after he and the dairy giant came in for criticism by its … Read more »

One New Director, Two New Shareholders’ Councillors Elected

Press Release – Fonterra Shareholders Council

Today, following the close of voting in the 2015 Fonterra Elections, which saw record Shareholder voting, it has been confirmed that one new Director and two new Shareholders Councillors will take office following the Fonterra Annual Meeting on Wednesday. Read more »

Tourism Holdings sees 10% lift in 2016 profit

Article – BusinessDesk

Nov. 23 (BusinessDesk) – Tourism Holdings, the campervan rental company, expects to lift profit 10 percent in the 2016 financial year, and is weighing up potential acquisitions globally and in the broader tourism industry. Read more »

AMP KiwiSaver Scheme receives Platinum rating

Press Release – AMP New Zealand

Leading life insurer and retirement savings provider, AMP Financial Services, has again cemented its position as one of New Zealands leading KiwiSaver providers with the announcement that it has been awarded a Platinum rating for 2016 from SuperRatings. Read more »

Evolve shares jump on 1H profit, affirms annual guidance

Article – Businesswire

Nov. 23 (BusinessDesk) – Evolve Education Group shares jumped to a five-month high after the childcare operator said its first-profit profit was in line with forecast annual earnings. Read more »

MetroGlass first-half profit meets reduced guidance

Article – Businesswire

Nov. 23 (BusinessDesk) – Metro Performance Glass, the country’s biggest glass processor, reported first-half earnings in line with its reduced guidance as capacity constraints in the construction sector squeezed its margins, even as sales came in better than … Read more »

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