Do you know where your KiwiSaver money is invested?

Press Release – Shareclarity

A recent study by the NZ Herald, RNZ and Fairfax showed that some of the government-appointed KiwiSaver schemes held investments in weapons manufacturers, tobacco companies, palm oil producers and other less socially responsible industries. People who sign up … Read more »

IAG NZ profit slides 38% as competition drives down prices

Article – BusinessDesk

Insurance Australia Group’s New Zealand division posted a 38 percent slide in annual profit as rampant competition for commercial customers drove down prices and as the country’s biggest general insurer faced a higher risk margin on the Canterbury earthquakes. Read more »

Michael Hill annual profit falls as tax payments bite

Article – BusinessDesk

Aug. 19 (BusinessDesk) – Michael Hill International, the jewellery chain business founded by its namesake, posted a 30 percent decline in annual profit as it accounted for tax adjustments. Read more »

Duncan Saville steps down from Infratil board after 22 years

Article – BusinessDesk

Duncan Saville is to retire as a director of Infratil at the company’s annual meeting later this month after 22 years in the role. Read more »

Tegel shares take flight on access to Australia

Article – BusinessDesk

Aug. 18 (BusinessDesk) – Tegel Group shares have risen sharply in response to an announcement that it will be able to export raw poultry to Australia for the first time. Read more »

New Talisman places share shortfall, raising $1.77 mln

Article – BusinessDesk

Aug. 17 (BusinessDesk) – Coromandel gold-mining prospector New Talisman Gold Mines has raised $1.77 million through the issue of new shares following a shortfall in its May rights issue. Read more »

Tower warns of potential ‘low ball’ share offers

Press Release – Tower Ltd

Tower Chairman Michael Stiassny is warning shareholders to be aware of potential low ball share offers, following a request from a third party for Towers share register. Read more »

NZ shares gain, Steel & Tube and Summerset lead index

Article – BusinessDesk

Aug. 15 (BusinessDesk) – New Zealand shares gained as early earnings reports skewed positive, with Steel & Tube Holdings and Summerset Group gaining on their results. Read more »

Auckland Airport annual meeting and nomination of directors

Press Release – Auckland International Airport

Auckland International Airport Limited advises that the company’s 2016 annual meeting will be held at 10:00 am on Thursday 20 October 2016 at the Vodafone Events Centre in Manukau. The closing date for nominations by shareholders of directors to be considered … Read more »

Steel & Tube shares hit 9-month high on analyst upgrade

Article – BusinessDesk

Aug. 15 (BusinessDesk) – Steel & Tube Holdings shares reached a nine-month high after First NZ Captial analysts raised their rating on the stock following the steel products maker posting better-than-expected annual earnings and lifting its dividend payment. Read more »

Another Strong Full Year Result From Freightways

Press Release – Freightways

Record revenue of $505 million for the year ended 30 June 2016, an improvement of more than 5% on the prior comparative period (pcp), has enabled Freightways (NZX:FRE) to deliver net profit after tax (NPAT) of $54.4 million, when excluding non-recurring … Read more »

Silver Fern shareholders vote 80.4% in favour of sale

Article – BusinessDesk

Silver Fern shareholders vote 80.4% in favour of sale to Shanghai Maling at special meeting Read more »

Directors’ fees – signs of improving diversity

Press Release – Institute Of Directors

The Institute of Directors 2015 Directors Fees Report shows directors fees have risen moderately this year, with pay disparities between male and female directors closing. Read more »

Metro Glass crosses Tasman with Aust Glass acquisition

Article – BusinessDesk

Aug. 12 (BusinessDesk) – Metro Performance Glass, which holds more than half of New Zealand’s glass processing market, has made a move across the Tasman with the purchase of Australian Glass Group for A$43.1 million. Read more »

Brierley makes new offer for Kirkcaldie assets at 7% premium

Article – BusinessDesk

Aug. 11 (BusinessDesk) – Ron Brierley’s Mercantile NZ has given notice of a new offer for the cashed-up former retailer Kirkcaldie & Stains, amounting to a 7 percent premium on its last traded price but still below the wash-up value of the business. Read more »

Datacom revenue tops $1bln as IT goes through “hyper-change”

Article – BusinessDesk

Aug. 11 (BusinessDesk) – Australasian IT services provider Datacom Group has boosted 2016 full-year revenue over the $1 billion mark, in a sector experiencing what chief executive Jonathan Ladd dubbed a phase of hyper-change. Read more »

Wynyard says it’s meeting disclosure despite share plunge

Press Release – BusinessDesk

Aug. 10 (BusinessDesk) – Wynyard Group, the crime-fighting and security software developer, says its continuing to comply with continuous disclosure obligations after a ‘please explain’ letter from the NZX following a 20 percent drop in its share … Read more »

Unguaranteed Viaduct investors likely to get 10-15c/dollar

Article – BusinessDesk

Aug. 10 (BusinessDesk) – Investors in failed finance company Viaduct Capital who werent covered by the Crown’s retail deposit guarantee scheme are likely to get back around 10 to 15 cents in the dollar, says receiver McDonald Vague in its latest … Read more »

IkeGPS raises $5.25 million in share placement

Article – BusinessDesk

Aug. 10 (BusinessDesk) – IkeGPS, the laser measurement toolmaker, has placed more than 8 million ordinary shares with institutional and sophisticated investors at 60 cents a share, 13 percent below the previously traded price and almost half the … Read more »

Is Silver Fern Selling Ashburton’s Fairton to Lowe Corp?

Press Release – New Zealand First Party

New Zealand First understands that Lowe Corporation is undertaking due diligence on Silver Fern Farms Fairton (Ashburton) pelt house operation, that will sweeten its balance sheet ahead of a proposed Chinese takeover. Read more »

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