Business Scoop


Mercury points to peaking gains as FY production drops 10%

Article – BusinessDesk

July 18 (BusinessDesk) – Mercury NZ says it relied on the peaking capacity of its Waikato hydro generation to capture high wholesale power prices in the June quarter. Read more »

Chorus sees growth in high value gigabit fibre plans

Article – BusinessDesk

July 17 (BusinessDesk) – Chorus reported a faster increase in more valuable gigabit fibre plans in the June quarter, which it says is driving revenue growth. Read more »

Arvida gets 87% uptake in $92 mln rights offer

Article – BusinessDesk

July 17 (BusinessDesk) – Arvida Group attracted about 86.5 percent uptake in an underwritten offer to existing investors and will now hold a shortfall bookbuild to bridge the difference. Read more »

Napier Port share offer $2.27-$2.60

Article – BusinessDesk

July 15 (BusinessDesk) – Napier Port expects to raise up to $234 million from the planned sale of 45 percent of the business through a public share offer. Read more »

Michael Hill may spend A$25m on staff underpayments

Article – BusinessDesk

July 11 (BusinessDesk) – Michael Hill International said an initial review of its Australian retail employment contracts and rostering practices showed non-compliance with some industry requirements over the past six financial years and may cost the … Read more »

Vital Healthcare portfolio value rises 5.9%

Article – BusinessDesk

July 10 (BusinessDesk) – Vital Healthcare Property Trust said the value of its portfolio increased by 5.9 percent, or $102.4 million, for the year ended June 30, reflecting two recently completed projects in Australia. Read more »

Responsible investment rises as market matures, survey finds

Article – BusinessDesk

July 9 (BusinessDesk) – The level of responsible investment in New Zealand grew 2.5 percent to $188 billion last year indicating the market has matured after two years of rapid growth, says the Responsible Investment Association of Australasia. Read more »

Westland shareholders strongly back Yili takeover

Article – BusinessDesk

July 4 (BusinessDesk) – Westland Co-Operative Dairy Company shareholders overwhelmingly supported a takeover bid by Hongkong Jingang Trade Holding, a unit of Inner Mongolia Yili Industrial Group Co. Read more »

Westland Shareholders Urged Not To Sell

Press Release – Social Credit

Social Credit is urging farmers attending the Westland Milk shareholders meeting tomorrow to vote against the sale of the company to Chinese government owned Yili. Read more »

Smiths City narrows FY loss as finance offsets soft retail

Article – BusinessDesk

July 1 (BusinessDesk) – Smiths City narrowed its full-year loss as growth in same-store sales and a strong performance from its finance arm offset softer retail demand in the second half of the year. Read more »

Abano shares rise 10% on dental sector consolidation

Press Release – BusinessDesk

July 1 (BusinessDesk) – Abano Healthcare shares rose 10 percent as the medical investor considers “various expressions of interest” as the Australian dental sector faces consolidation. Read more »

Allied Farmers plans 10-to-1 share consolidation

Article – BusinessDesk

July 1 (BusinessDesk) – Allied Farmers announced a 10-to-one share consolidation, a move which will shrink the number of shares on issue and boost the per share price. Read more »

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