MARKET CLOSE: NZ shares fall with commodities; A2 drops

Article – BusinessDesk

Feb. 3 (BusinessDesk) – New Zealand shares fell as weaker commodity prices weighed on equities in countries dependent on exports of raw materials. Synlait Milk, A2 Milk, Kathmandu Holdings and Air New Zealand declined, while Precinct Properties … Read more »

Briscoe forecasts 18% profit lift in full-year profit

Article – BusinessDesk

Feb. 3 (BusinessDesk) – Briscoe Group, whose hostile takeover of Kathmandu Holdings was spurned in 2015, expects to report a record full-year profit of $46.5 million, up from 2015’s $39.3 million. Read more »

Wynyard shareholders to vote on lifting share issue cap

Article – BusinessDesk

Feb. 3 (BusinessDesk) – Wynyard Group shareholders will vote on granting the board more freedom to issue shares in two weeks, after a downturn in global markets took the sheen off its existing plans to raise capital. Read more »

MARKET CLOSE: NZ shares rise, led by Fletcher on Higgins buy

Article – BusinessDesk

MARKET CLOSE: NZ shares rise, led by Fletcher on Higgins buy; Summerset gains, MRP, Nuplex drop Read more »

Trade Me cut to ‘sell’ from ‘buy’ at broker Craigs

Article – BusinessDesk

Feb. 2 (BusinessDesk) – Trade Me stock was downgraded to ‘sell’ from ‘buy’ by brokerage Craigs Investment Partners, saying shares in New Zealand’s largest online auction site were “fully priced”. Read more »

Augusta to buy A$23 mln industrial property in Brisbane

Article – BusinessDesk

Feb. 2 (BusinessDesk) – Augusta Capital, the listed property investor and fund manager, will buy a A$23 million industrial property in Brisbane, which it plans to put up for syndication. Read more »

Changes to divisional structure and executive officers

Press Release – Fletcher Building

Auckland, 2 February 2016 Fletcher Building Limited today announced changes to its divisional structure and executive officers. The changes follow the evolution of Fletcher Buildings business portfolio, including the completion of the sale … Read more »

Fletcher Building buys roading contractor Higgins for $315M

Article – BusinessDesk

Feb. 2 (BusinessDesk) – Fletcher Building has paid $315 million for Higgins Group Holdings, New Zealands third-largest road construction and maintenance company, while separately announcing it will restructure into five divisions. Read more »

Full break-up may be best option for ‘under-valued’ Fletcher

Article – BusinessDesk

Full break-up may be best option for ‘under-valued’ Fletcher Building, given outlook for Australia, ROW Read more »

MARKET CLOSE: NZ shares rise, led by Kathmandu as sales rise

Article – BusinessDesk

Feb. 1 (BusinessDesk) – New Zealand shares rose, led by Kathmandu Holdings after the retailer reported stronger first-half sales on improved margins. Australia & New Zealand Banking Group advanced, while A2 Milk Co and Genesis Energy dropped. Read more »

Ryman to spend more than $200 mln on third Melbourne village

Article – BusinessDesk

Feb. 1 (BusinessDesk) – Ryman Healthcare, which posted a 23 percent gain in first-half profit, will spend $200 million building its third retirement village in Melbourne as part of its planned expansion in Australia’s second-biggest city. Read more »

Pyne Gould 2015 annual report delayed again, auditor blamed

Article – BusinessDesk

Feb. 1 (BusinessDesk) – Pyne Gould Corp, whose NZX-listed shares have been suspended from trading since October, will take even longer to file its 2015 annual report, blaming a disagreement between auditors for the latest delay. Read more »

Synlait cuts forecast milk payout for this season to $4.20

Article – BusinessDesk

Feb. 1 (BusinessDesk) – Synlait Milk, the NZX-listed dairy company, cut its forecast milk payout for this season as global commodity prices stay lower for longer. Read more »

Snakk maintains above-target gross margin in third quarter

Article – BusinessDesk

Feb. 1 (BusinessDesk) – Snakk Media, which aggregates publishers advertising space on mobile devices and matches it to advertiser demand, maintained above-target gross margins in the final three months of 2015, but warned they will probably weaken in … Read more »

World Week Ahead: Alphabet earnings, US jobs

Article – BusinessDesk

Feb. 1 (BusinessDesk) – A slew of US corporate earnings including from Alphabet, Googles parent company, and the latest government jobs data will feature on investors radar screens in the coming days. Read more »

MARKET CLOSE: NZ shares rise on higher volumes

Article – BusinessDesk

MARKET CLOSE: NZ shares rise on higher volumes; NZ Refining, Sky TV up, while Intueri, Trade Me, Air NZ fall Read more »

Omega-3 Refinery completes first commercial production run

Press Release – SeaDragon

SeaDragon Limited (NZX:SEA) is pleased to announce that the first commercial production run through its new Omega-3 factory has been completed and that the refined oil has successfully met the requirements for commercial sale. As previously announced on … Read more »

UPDATE: SFO confirms Intueri under investigation

Article – BusinessDesk

Jan. 29 (BusinessDesk) – The Serious Fraud Office has confirmed it is investigating Intueri Education Group. Read more »

Intueri shares plunge 35% on SFO investigation

Article – BusinessDesk

Jan. 29 (BusinessDesk) – Intueri Education Group’s shares sank 35 percent as the company said one of its colleges was under investigation by the Serious Fraud Office. Read more »

Fletcher Building books $85 mln profit from Rocla sale

Article – BusinessDesk

Jan. 29 (BusinessDesk) – Fletcher Building has completed the A$150 million sale of Rocla Quarry Products assets to Hanson Construction Materials following clearance from the Australian Competition Commission and the Foreign Investment Review Board. Read more »

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