Ex-Solid Energy JV partner, GTL, seeks briquette plant sale

Article – BusinessDesk

March 3 (BusinessDesk) – GTL Energy (New Zealand), Solid Energy’s former partner in an experimental briquette-making plant in Southland, narrowed its loss in 2014 in a year when it garnered no revenue and began preparing for the sale of the Mataura … Read more »

KiwiRail 1H earnings fall on lower coal, logs, dairy volumes

Article – BusinessDesk

March 2 (BusinessDesk) – KiwiRail, the unprofitable government-owned rail operator, reported a 6 percent drop in first-half operating earnings on reduced freight volumes of coal, logs and dairy, and said it would still meet guidance for annual earnings … Read more »

Govt resisting pressure to pump more cash into Solid Energy

Article – BusinessDesk

March 2 (BusinessDesk) – Prime Minister John Key says it is “not the government’s preferred option” to make a fresh capital injection into the troubled state-owned coal miner, Solid Energy, but dodged journalists’ questions at his weekly press conference … Read more »

TVNZ 1st-half profit drops 5% on weaker ad revenue

Article – BusinessDesk

March 2 (BusinessDesk) – Television New Zealand, the state-owned broadcaster, posted a drop in first-half profit of about 5 percent as advertising revenue weakened and costs rose. Read more »

More ACC support to help address sexual violence

Press Release – New Zealand Government

ACC Minister Nikki Kaye welcomes ACCs new support package for people whove experienced sexual abuse or assault. Its clear to me ACC has listened to feedback from clients, families, counsellors and others, and their input is reflected in the … Read more »

Fonterra’s Glencoal says Waikato mine delayed, not on hold

Article – BusinessDesk

Feb. 27 (BusinessDesk) – Fonterra Cooperative Group subsidiary Glencoal has denied suggestions it has put its plans for an open cast mine in the Waikato on hold indefinitely following public opposition. Read more »

Solid Energy delays 1H report on weaker coal price forecast

Article – BusinessDesk

Feb. 27 (BusinessDesk) – Solid Energy, the state-owned coal miner whose chair Pip Dunphy stepped down this week, will delay reporting its first-half accounts, saying forward pricing for coal may impact on its ability to meet debt repayments when they … Read more »

Transpower hikes 1H dividend, warns of regulatory threat

Article – BusinessDesk

Feb. 27 (BusinessDesk) – Transpower, the state-owned operator of the national electricity grid, hiked its first-half dividend to the government as revenue gained on the completion of its major upgrade, but is warning earnings and future payouts could be hit by … Read more »

Kapiti Line disruption Thursday 26 February

Press Release – Metlink

All services on the Kapiti Line will be replaced by bus between Wellington and Porirua until further notice. Read more »

UPDATE: Kiwibank cancels cards after 2 ATMs hit by scam

Article – BusinessDesk

Feb. 25 (BusinessDesk) – Kiwibank, the government owned lender and subsidiary of New Zealand Post, has taken urgent action and frozen some customer accounts after two of its ATMS were fitted with card skimming devices and funds were taken offshore. Read more »

NZ Treasury to put more acid on Crown entity boards

Article – BusinessDesk

Feb. 25 (BusinessDesk) – The New Zealand Treasury has pulled in private sector directors to give it advice on how to put Crown entity boards under more scrutiny so as to avoid another rapid deterioration such as witnessed by coal miner Solid Energy. Read more »

Kiwibank cancels eftpos, debit cards in fraud investigation

Article – BusinessDesk

Feb. 24 (BusinessDesk) – Kiwibank, the government-owned lender and subsidiary of New Zealand Post, has taken urgent action and frozen some customer accounts after detecting card fraud. Read more »

Solid Energy’s Chair steps down

Press Release – New Zealand Government

State Owned Enterprises Minister Todd McClay has thanked outgoing Solid Energy Chair, Pip Dunphy for her hard work and strong leadership after her decision to stand down from the Board. Read more »

Kiwibank six-month financial announcement (Jul-Dec 2014)

Press Release – Kiwibank

Kiwibank Banking Group has declared a profit after tax of $71 million for the six months ended 31 December 2014, a 36% increase on the $52 million profit for the same period in 2013. Read more »

Kiwibank will start paying dividends to NZ Post this year

Article – BusinessDesk

Feb. 23 (BusinessDesk) – Kiwibank, the banking unit of state-owned New Zealand Post, expects this year to pay its first annual dividend after 13 years of operation, reflecting its increased size, record profits and its ability to fund its own activities. Read more »

Kiwibank performance, one-off sale boosts first half result

Press Release – New Zealand Post

New Zealand Post Group today reported net profit after taxation (NPAT) of $100 million for the six months ended 31 December 2014. Read more »

NZ Post increased 1H profit 41%, helped by Kiwibank

Article – BusinessDesk

Feb. 23 (BusinessDesk) – New Zealand Post, the state-owned mail delivery service, increased first-half profit 41 percent after selling its Australian Couriers Please business for A$95 million and as earnings rose at its Kiwibank unit. Read more »

Mayor on Ports half-year results

Press Release – Office of the Mayor of Auckland

Mayor Len Brown has welcomed the Ports of Auckland half-year results, including the news of an interim dividend of $25.5m to be paid to its holding company, Auckland Council Investments Limited, for the benefit of ratepayers. Read more »

Government money grab from changes at New Zealand Post

Press Release – Postal Workers Union of Aotearoa

“It’s a money grab by the Government as the shareholder of New Zealand Post” says Postal Workers Union advocate Graeme Clarke about the changes announced by NZ Post today. Read more »

NZ Post to extend trial of mobility scooters to cut costs

Article – BusinessDesk

NZ Post to extend trial of mobility scooters to cut costs of mail, freight deliveries Read more »

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