MARKET CLOSE: NZX 50 rises to record, led by Xero

Article – BusinessDesk

Oct. 22 (BusinessDesk) – New Zealand shares rose to a record close, led by Xero, as investors returned to more risk-based equities after last week’s volatility. Nuplex gained after selling two of its Australasian assets, while Fletcher Building touched … Read more »

Quattro IPO back on as it halves NZ property portfolio

Article – BusinessDesk

Quattro IPO back on as it halves NZ property portfolio, cuts capital raise by 28% Read more »

Vector warns on $80M hit from falling electricity use: CEO

Article – BusinessDesk

Oct. 22 (BusinessDesk) – Vector, the Auckland lines company, says falling electricity consumption will cost it up to $80 million because of the way it’s regulated, according to chief executive Simon Mackenzie. Read more »

James Pascoe increases stake in Warehouse to 6.3%

Article – BusinessDesk

Oct. 22 (BusinessDesk) – James Pascoe, the retail group owned by David and Anne Norman, has added to its holding in Warehouse Group by buying on market this week, taking advantage of shares trading near their lows for the year. Read more »

UPDATE: Nuplex shares rise 3.9% on sale of ANZ units

Article – BusinessDesk

UPDATE: Nuplex shares rise 3.9% on sale of ANZ units to CHAMP backed company Read more »

Xero eyes possible A$1 billion float in US, media reports

Article – BusinessDesk

Oct. 22 (BusinessDesk) – Xero, the cloud-based accounting software company, is moving ahead with plans to list in the US with an initial public offer of A$1 billion flagged, according to media reports. Read more »

Seeka sees annual profit growth of up to 11%

Article – BusinessDesk

Oct. 22 (BusinessDesk) – Seeka Kiwifruit Industries, the country’s biggest kiwifruit grower, sees annual profit growth of up to 11 percent and is planning to expand its capacity in coming years as kiwifruit crops recover from the outbreak of the Psa-V … Read more »

Nuplex agrees to sell ANZ units to Champ for A$127.5 mln

Article – BusinessDesk

Nuplex agrees to sell ANZ units to Champ-backed company for A$127.5 mln Read more »

Jimmy Koh, KVB Kunlun fined, censured for NZX rule breaches

Article – BusinessDesk

Jimmy Koh, KVB Kunlun fined $65,000, censured for NZX rule breaches over Z, other IPOs Read more »

Quantum of fees work to follow second MTF judgment

Article – BusinessDesk

Oct. 22 (BusinessDesk) – The second judgment in the antitrust regulator’s case against auto-lender Motor Trade Finance over its loan contracts has been released, and leaves more work for the financier and Commerce Commission to calculate the quantum of fees … Read more »

MARKET CLOSE: NZ shares extend gains; CEN, TPW rise

Article – BusinessDesk

Oct. 21 (BusinessDesk) – New Zealand shares gained for a third day, paced by Contact Energy and TrustPower, as investors spooked by recent volatility sought high-yield stocks. Fisher & Paykel Healthcare Corp rose to a record close. Read more »

Annual Meeting – 21 October 2014

Press Release – Hellaby Holdings

Please click here for the Chairmans and CEOs addresses from todays Hellaby Annual Meeting. Read more »

Power companies face ban on ‘saving’ departing customers

Article – BusinessDesk

Oct. 21 (BusinessDesk) – Power companies face a ban on so-called “save” calls, where they ring a customer departing for a rival and try to entice them back with a better offer, to the dismay of large electricity retailers. Read more »

Cavalier and NZ Wool Services to merge wool scouring units

Article – BusinessDesk

Oct. 21 (BusinessDesk) – Cavalier Wool Holdings and New Zealand Wool Services International will merge their two wool scouring operations, handing Melbourne-based Lempriere the biggest stake in the new business. Read more »

Hellaby expects to complete at least one acquisition in 2015

Article – BusinessDesk

Oct. 21 (BusinessDesk) – Hellaby Holdings, the diversified investment company, expects to proceed with at least one acquisition this financial year as it looks to further broaden its portfolio. Read more »

Fletcher Building ups earnings through trebling house builds

Article – BusinessDesk

Oct. 21 (BusinessDesk) – Fletcher Building, New Zealand’s biggest company, is forecasting an upturn in earnings as it moves to triple the pace of home building in New Zealand and pilots a social housing project with government in Christchurch. Read more »

Fletcher to triple pace of home building in NZ

Article – BusinessDesk

Fletcher aims to triple pace of home building in NZ as demand grows, Adamson says Read more »

Fletcher Building sees FY earnings $650M-$690M on 2H rebound

Article – BusinessDesk

Oct. 21 (BusinessDesk) – Fletcher Building, the biggest company on the NZX 50 Index, is forecasting a gain in full-year operating earnings of as much as 11 percent, driven by anticipated recovery in the second half. Read more »

Horizon’s Aquaheat to buy Hawkins Refrigeration

Article – BusinessDesk

Oct. 21 (BusinessDesk) – Aquaheat New Zealand, a unit of Horizon Energy Distribution, is to buy Christchurch-based Hawkins Refrigeration to expand its national reach, retaining existing owners and managers to run the business. Read more »

PGG Wrightson looks to beat operating earnings in 2015

Article – BusinessDesk

Oct. 21 (BusinessDesk) – PGG Wrightson, the rural services firm controlled by China’s Agria Corp, expects to shrug off falling dairy prices and beat its strongest earnings result in several years in 2015 after a strong first quarter. Read more »

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