Summerset FY earnings may rise as much as 39% as sales surge

Article – BusinessDesk

July 7 (BusinessDesk) – Summerset Group, New Zealand’s third-largest listed retirement village operator, expects annual earnings may rise as much as 39 percent as it benefits from record sales of units. Read more »

MARKET CLOSE: NZ shares fall on Grexit fears

Article – BusinessDesk

July 6 (BusinessDesk) – New Zealand shares fell in a region-wide sell off as uncertainty over Greece’s financial stability overshadowed equity markets. Dual-listed stocks such as Kathmandu Holdings, Westpac Banking Corp and Australia and New Zealand Banking … Read more »

NZ shares kick off region-wide decline after Greeks say no

Article – BusinessDesk

July 6 (BusinessDesk) – The New Zealand stock market kicked off a region-wide sell off as uncertainty over the future of Greece’s financial stability stokes volatility in international markets and prompts investors to seek safe-haven assets. Read more »

Hanover four say settlement was in investors’ best interests

Article – BusinessDesk

Hanover four say $18M settlement was in investors’ best interests, court case would have failed Read more »

Comcom investigates PGG Wrightson over NAIT scheme fees

Article – BusinessDesk

July 6 (BusinessDesk) – The Commerce Commission is investigating PGG Wrightson over the fees the rural services firm, which is controlled by China’s Agria Corp, charged during the implementation of a national livestock tagging programme. Read more »

Moody’s upgrades Air NZ credit rating

Article – BusinessDesk

Moody’s upgrades Air NZ credit rating on new approach to leases, low jet fuel prices Read more »

MARKET CLOSE: NZ shares fall on Greek worries; A2, Xero drop

Article – BusinessDesk

July 3 (BusinessDesk) – New Zealand shares fell as uncertainty over Greece’s debt default sapped risk appetite and demand for equities. A2 Milk Co, Xero and Fletcher Building declined. Pumpkin Patch sank to a record low. Read more »

UPDATE: Beingmate slides further in Shenzhen tumble

Article – BusinessDesk

July 3 (BusinessDesk) – Beingmate Baby & Child Food Co shares have more than halved in value on the Shenzhen stock exchange over the past three weeks, pushing their price 21 percent below what Fonterra Cooperative Group paid for its 18.8 percent … Read more »

Murray Radford resigns as chairman of Mowbray

Article – BusinessDesk

July 3 (BusinessDesk) – Murray Radford will retire as chairman of Mowbray Collectibles as the auction house prepares to rename as Bethunes after selling units and repaying debt. Read more »

Beingmate joins Shenzhen selloff

Article – BusinessDesk

Beingmate joins Shenzhen selloff to trade 12% below price Fonterra paid for 18.8% stake Read more »

Clarity Needed on Shareholder Resolution

Press Release – Silver Fern Farms

Silver Fern Farms Chief Executive Dean Hamilton clarified the process for Silver Fern Farms shareholders following the receipt on Thursday ofproxies that shareholder Allan Richardson stated represent above 5% of the outstanding shares in the Company. … Read more »

Pumpkin Patch sees drop in 2016 earnings; shares tumble

Article – BusinessDesk

July 3 (BusinessDesk) – Pumpkin Patch, the ailing children’s clothing retailer, expects earnings next year will be “significantly below” this year amid increasingly challenging international wholesale markets and adverse forecast currency impacts. Read more »

NZX trading activity, value of turnover increase in June

Article – BusinessDesk

July 3 (BusinessDesk) – The volume and value of trading on New Zealand’s stock exchange increased last month, led by a gain in smaller-value trades. Read more »

MRP’s Metrix cans Trustpower contract before it begins

Article – BusinessDesk

July 3 (BusinessDesk) – MightyRiverPower’s Metrix metering business has walked away from a deal with Infratil-controlled Trustpower that would have supplied the power company’s 242,000 electricity customers with smart meters. Read more »

MARKET CLOSE: NZ shares rise; F&P Healthcare at record

Article – BusinessDesk

July 2 (BusinessDesk) – New Zealand shares rose as a weak kiwi dollar boosted sentiment for exporters such as Fisher & Paykel Healthcare. Chorus and Spark New Zealand advanced after the Commerce Commission issued its ruling on wholesale telecommunications … Read more »

South Port says annual profit beats guidance on cargo flows

Article – BusinessDesk

July 2 (BusinessDesk) – South Port New Zealand said annual profit beat the top end of its guidance by about 7.1 percent after the Bluff port operator reported stronger cargo flows in the final quarter of the financial year. Read more »

SeaDragon to raise $5M via discounted rights, placement

Article – BusinessDesk

SeaDragon to raise $5 mln via discounted rights issue, placement to fund transition to Nelson factory Read more »

UPDATE: Chorus falls after regulator ruling

Article – BusinessDesk

July 2 (BusinessDesk) – Chorus shares fell after the Commerce Commission’s latest ruling on wholesale telecommunications prices were largely unchanged, though the regulator changed tack on whether any update will be backdated. Read more »

Kathmandu hires Goldman Sachs to help assess Briscoe bid

Article – BusinessDesk

July 2 (BusinessDesk) – Kathmandu has urged shareholders to take no action on a full takeover offer from Briscoe Group pending the board’s response and has retained Goldman Sachs as an adviser. Read more »

Fonterra begins talks with workers as part of review

Article – BusinessDesk

July 2 (BusinessDesk) – Fonterra Cooperative Group, which is looking to cut hundreds of jobs as part of a review aimed at stripping costs out of its business, says it has begun talks with workers in administrative roles such as finance, legal and information … Read more »

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