Mercer posts FY loss on new staff hires, tough Aust market

Article – BusinessDesk

Aug. 29 (BusinessDesk) – Mercer Group, the stainless steel manufacturer, reported an annual loss as it hired new staff to fuel future profit growth while trading conditions in Australia remained tough. Read more »

Bathurst writes off full value of Buller coal project

Article – BusinessDesk

Aug. 29 (BusinessDesk) – Bathurst Resources has written off the total value of the assets covered by its Buller coal project as it hunkers down and waits for international coking coal market conditions to improve. Read more »

Delegat FY profit rises 3% as bigger volumes trump kiwi

Article – BusinessDesk

Aug. 29 (BusinessDesk) – Delegat Group, New Zealand’s largest listed wine company, increased annual profit 3 percent as record volumes muted the impact of a stronger local currency. Read more »

Pumpkin Patch takes $12 mln charge against stores, IT system

Article – BusinessDesk

Aug. 29 (BusinessDesk) – Pumpkin Patch, which slashed its earnings forecast earlier this year, will take a $12 million charge to write down the value of stores and IT software, while posting underlying profit in line with guidance. Read more »

MARKET CLOSE: NZ shares slip from record led by Spark

Article – BusinessDesk

Aug. 28 (BusinessDesk) – New Zealand shares fell from a record, led by Spark New Zealand, as investors locked in gains ahead of next month’s general election, which is creating some uncertainty in markets. Air New Zealand rose for a second day after … Read more »

Hellaby delivers record operating earnings

Press Release – Hellaby Holdings

Hellaby delivers record operating earnings Hellaby Holdings group performance highlights for the 12 months to 30 June 2014: Trading EBITDA up 49% to $56.1 million Group NPAT (normalised) up 44% to $26.8 million Earnings per share … Read more »

Hellaby sinks into the red on footwear writedown

Article – BusinessDesk

Aug. 28 (BusinessDesk) – Hellaby Holdings, the diversified investment company, sank into the red in the latest financial year as it wrote down the value of its footwear unit in a flat retail market. Still, it sweetened its dividend as underlying earnings … Read more »

Airwork beats earnings forecast; increases dividend

Press Release – Airwork NZ Ltd

NPAT of $9.8m up 52 percent on 2013 and 17 percent ahead of Prospectus Forecast Reported EBIT EPS of 21.1 cents (basic), up 38.3 percent on 2013 Final 2014 dividend increased to 8c a share, fully imputed up 22 percent on 2013 and 9 … Read more »

NZX names new market “NXT” as it awaits FMA go-ahead

Article – BusinessDesk

Aug. 28 (BusinessDesk) – NZX, the stock market operator, has revealed its new market with lighter disclosure requirements will be called NXT, as it waits on the final go-ahead from the Financial Markets Authority. Read more »

Jetstar loses ground in NZ as Qantas plunges to A$2.84B loss

Article – BusinessDesk

Aug. 28 (BusinessDesk) – Jetstar, the discount unit of Australian airline Qantas Airways, lost ground in New Zealand, while claiming better yields on key routes, as its parent plunged into the red after slashing the value of its international … Read more »

A2 Milk to use Australian cash for global expansion

Article – BusinessDesk

Aug. 28 (BusinessDesk) – A2 Milk Co, which markets milk with a protein variant said to have health benefits, will ramp up its expansion in the US, the UK and Asia using cash generated in its biggest market of Australia after a year in which a strong … Read more »

MARKET CLOSE: NZ shares rise to record, led by Pacific Edge

Article – BusinessDesk

MARKET CLOSE: NZ shares rise to record as investors hunt yield, led by Pacific Edge Read more »

TeamTalk posts full-year loss on Farmside charge

Article – BusinessDesk

Aug. 27 (BusinessDesk) – TeamTalk, the listed telecommunications company, posted a full-year loss after writing down goodwill on its Farmside rural unit, a charge that required the cooperation of its lender to avoid a covenant breach. Read more »

Ebos takes 25% stake in Good Price Pharmacy Warehouse

Article – BusinessDesk

Aug. 27 (BusinessDesk) – Ebos Group, which trebled its annual profit after acquiring pharmaceutical wholesaler and distributor in Australia Symbion, has taken a quarter-stake in an Australian pharmacy retailer and is hunting for more. Read more »

Fonterra to offer at least 20% premium for Beingmate shares

Article – BusinessDesk

Fonterra to offer at least 20% premium for Beingmate shares in deal to drive Anmum sales Read more »

Smiths City shares climb after Edison says stock undervalued

Article – BusinessDesk

Aug. 27 (BusinessDesk) – Shares of Smiths City Group climbed 8 percent after a report by Edison Investment Research said the furnishing and appliance store’s plans to expand to the North Island hold promise, and the stock is undervalued relative to … Read more »

Steadfast reports strong FY14 results

Press Release – Steadfast

Exceeded prospectus forecasts for FY14 Pro-forma EBITA (pre Corporate Office expenses) up 15.3% Pro-forma cash EPS up 17.3% Pro-forma revenue from consolidated entities up 11.2% Gross written premiums (GWP) placed by Steadfast Network Brokers … Read more »

Fonterra to buy 20% stake in China’s Beingmate

Article – BusinessDesk

Aug. 27 (BusinessDesk) – Fonterra Cooperative Group plans to enter a joint venture with China’s Beingmate that will own the dairy giant’s Darnum plant in Australia and produce infant formula products for the Chinese market, for a total investment … Read more »

UPDATE: Ebos outlook subdued after Symbion boosts FY profit

Article – BusinessDesk

Aug. 27 (BusinessDesk) – Ebos Group is unlikely to repeat a trebling of annual profit fuelled by last year acquisition of the Symbion pharmaceutical wholesaler and distributor in Australia, where regulatory changes are putting pressure on the sector. Read more »

UPDATE: Air NZ shares hit 2-mth high on profit, special div

Article – BusinessDesk

Aug. 27 (BusinessDesk) – Air New Zealand shares rose to a two-month high after the government-controlled national carrier boosted annual profit 45 percent on increased passenger numbers and capacity, and said it will double shareholder returns with … Read more »

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