FMA’s top risks crop up in 2015 enforcement activity

Article – BusinessDesk

Aug. 28 (BusinessDesk) – The Financial Markets Authority’s top seven strategic priorities were a common theme for the regulator’s enforcement activity over the past year, with governance, culture and conflicted conduct the agency’s biggest problem. Read more »

Ron Brierley rides again, builds 7.2% stake in Smiths City

Article – BusinessDesk

Aug. 28 (BusinessDesk) – Veteran corporate investor Ron Brierley is sniffing out opportunities in Christchurch-based retail chain Smiths City, which has started closing down unprofitable stores to eke out a lift in earnings. Read more »

Veritas profit drops 23%, to pay smaller dividend

Article – BusinessDesk

Aug. 28 (BusinessDesk) – Veritas Investments, the food and beverage investor, posted a 23 percent drop in annual profit and will pay a smaller dividend to shareholders as it wrestles with integrating its Nosh Food Market and Better Beer Co acquisitions. Read more »

Fliway pays special dividend as annual profit beats target

Article – BusinessDesk

Aug. 28 (BusinessDesk) – Fliway, the transport and logistics company that listed on the NZX in April, will pay a special dividend after posting annual profit 33 percent above its prospectus forecast mainly on lower-than-expected listing costs. Read more »

Vector posts 2.8% gain in full-year earnings

Article – BusinessDesk

Vector posts 2.8% gain in full-year earnings as smart meters lead growth, sees further gain in 2016 Read more »

Vista boosts first-half profit 24%

Article – BusinessDesk

Aug. 28 (BusinessDesk) – Vista Group International, the cinema software and analytics firm, boosted first-half profit 24 percent as the expanded group beefed up its share of the global market and extended its reach into new territory. Read more »

Retiring FPH CEO Daniell says narrower focus key to success

Article – BusinessDesk

Aug. 28 (BusinessDesk) – Retiring Fisher & Paykel Healthcare boss Mike Daniell says he realised the importance of focus rather than diversifying the company’s efforts about 20 years ago. Read more »

MARKET CLOSE: NZ joins global rebound

Article – BusinessDesk

Aug. 27 (BusinessDesk) – New Zealand shares rose in a global rebound after Wall Street benchmarks rallied some 4 percent overnight. A2 Milk Co, Auckland International Airport and Metro Performance Glass clawed back from recent losses. Read more »

UPDATE: Hellaby returns to profit in 2015

Article – BusinessDesk

Aug. 27 (BusinessDesk) – Hellaby Holdings returned to profit in 2015 as it benefited from a series of acquisitions a year earlier, and has decided to put its footwear units up for sale after writing down their value in 2014, while looking across the … Read more »

h3> UPDATE: F&P Healthcare earnings targets $1 bln

Article – BusinessDesk

UPDATE: F&P Healthcare on target to reach $1 bln operating earnings in next 3 years Read more »

Hellaby returns to profit in 2015

Article – BusinessDesk

Hellaby returns to profit in 2015 as acquisitions add earnings; plans to sell footwear units Read more »

F&P Healthcare lifts earnings guidance; CEO Daniell retires

Article – BusinessDesk

Aug. 27 (BusinessDesk) – Fisher & Paykel Healthcare, the medical devices manufacturer, lifted its 2016 earnings guidance on the back of a favourable exchange rate and said long-time managing director Mike Daniell will retire. Read more »

UPDATE: Scales shares rise 2% as Mr Apple drives earnings

Article – BusinessDesk

Aug. 27 (BusinessDesk) – Scales Corp shares rose 2 percent after the country’s biggest apple exporter boosted first-half profit 61 percent as its Mr Apple unit beat expectations. Read more »

Tourism Holdings boosts profit 81% on wider campervan margin

Article – BusinessDesk

Aug. 27 (BusinessDesk) – Tourism Holdings, the campervan rental company, boosted annual profit 81 percent, slightly ahead of guidance, after strengthening its balance sheet and improving margins. Read more »

Delegat posts 24% decline in annual earnings on writedowns

Article – BusinessDesk

Aug. 27 (BusinessDesk) – Delegat Group, New Zealand’s largest listed wine company, posted a 24 percent decline in annual profit as it wrote down the value of its grapes and financial instruments used to limit its foreign currency and interest rate exposure. Read more »

NZ Oil & Gas posts $6.2M loss on writedown of Tui field

Article – BusinessDesk

Aug. 27 (BusinessDesk) – New Zealand Oil & Gas ramped up production during the year to June 30 to offset the sharp decline in world oil prices, turning in a net loss of $6.2 million, compared with a profit of $10.1 million the previous year. Read more »

Scales 1st-half profit up 61% as Mr Apple beats expectations

Article – BusinessDesk

Aug. 27 (BusinessDesk) – Scales Corp, the country’s biggest apple exporter, posted a 61 percent gain in first-half profit as its Mr Apple unit performed better than expected, and affirmed guidance for stronger annual earnings. Read more »

MARKET CLOSE: NZ shares fall; Auckland Aiport, Metlife drop

Article – BusinessDesk

Aug. 26 (BusinessDesk) – New Zealand shares fell as investors continued to fret over China’s economic outlook. Auckland International Airport led the market lower, while Metlifecare declined after reporting its annual earnings. Read more »

Air NZ fare cuts point to domestic battle with Jetstar

Article – BusinessDesk

Air NZ’s pre-emptive cut to regional domestic fares points to full-on battle, travel agents say Read more »

TeamTalk annual earnings slump 53% in ‘tough year’

Article – BusinessDesk

Aug. 26 (BusinessDesk) – TeamTalk, the listed telecommunications company, reported a 53 percent drop in annual earnings as sales fell across its radio and broadband network operations, in what it said was a “tough year.” Read more »

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