Archive for the 'Article' Category

CORRECT: Abano achieves second year of 75% profit growth

Article – BusinessDesk

CORRECT: Abano achieves second year of 75% profit growth

(Corrects underlying profit, sales in second paragraph of story that first ran July 28) Read more »

Abano achieves second year of 75% profit growth

Article – BusinessDesk

Abano achieves second year of 75% profit growth

July 28 (BusinessDesk) – Abano Healthcare, the medical investor fending off a hostile takeover from its biggest shareholder, posted a 75 percent jump in full-year profit, beating guidance and allowing it to maintain dividend payments for a sixth straight year. Read more »

CORRECT: NZX 1H activity shows boosted volume, lower value

Article – BusinessDesk

CORRECT: NZX first-half activity shows boosted volume, falling value

(Fixes number of listings in first graph, removes incorrect listing date of CRP and rights issues in third graph) Read more »

NZ dollar heads for 1.4% weekly drop post-Wheeler comments

Article – BusinessDesk

NZ dollar heads for 1.4% weekly drop after RBNZ’s Wheeler jawbones kiwi

By Paul McBeth

Jul. 25 (BusinessDesk) – The New Zealand dollar is heading for a 1.4 percent weekly fall against the greenback after Reserve Bank governor Graeme Wheeler talked down the local currency and signalled conditions were ripe for intervention. Read more »

Puhoi – Warkworth “holiday highway” gets the big tick

Article – BusinessDesk

Puhoi – Warkworth “holiday highway” gets the big tick

By Suze Metherell

July 25 (BusinessDesk) – A board of inquiry has given the go-ahead on the $760 million Puhoi-to-Warkworth highway. Read more »

Kiwibank exits Goodman Property’s $600 mln lending syndicate

Article – BusinessDesk

Kiwibank exits Goodman Property’s $600 mln lending syndicate

By Suze Metherell

July 25 (BusinessDesk) – Kiwibank has exited a five-year, $30 million lending relationship with Goodman Property Trust, New Zealand’s largest listed property investor with the remaining ‘big four’ banks to boost their funding to $150 million each. Read more »

UPDATE: Scales shares edge lower on NZX debut

Article – BusinessDesk

UPDATE: Scales shares edge lower on NZX debut raising $30M of new capital to repay debt

(Updates with price movements, company and investor comments) Read more »

ASX-listed InvoCare unit cleared to buy Chch crematoriums

Article – BusinessDesk

Regulator clears ASX-listed InvoCare unit to buy Christchurch crematorium

By Suze Metherell

July 25 (BusinessDesk) – The Commerce Commission has cleared the way for ASX-listed InvoCare’s Bledisloe New Zealand to buy the 70-year old Cremation Society of Canterbury adding two crematoriums to its New Zealand network. Read more »

Auckland Airport cuts fine deal in US$250M bond issue

Article – BusinessDesk

Auckland Airport cuts fine deal in US$250M bond issue

By Paul McBeth

Jul. 25 (BusinessDesk) – Auckland International Airport has sold US$250 million of bonds in the final tranche of a financing package to pay for its capital return to shareholders earlier this year at what it says is the lowest borrowing margin for a facility of its kind for a decade. Read more »

NZ dollar slides to 6-week low on intervention talk

Article – BusinessDesk

NZ dollar slides to 6-week low as RBNZ’s Wheeler invokes intervention criteria

By Paul McBeth

July 24 (BusinessDesk) – The New Zealand dollar dropped to a six-week low after Reserve Bank governor Graeme Wheeler explicitly invoked one of the criteria to intervene in currency markets in calling the kiwi’s strength “unjustified.” Read more »

Moa makes $500k placement, offers $5.25 mln in rights

Article – BusinessDesk

Moa completes $500k placement, seeks up to $5.25 mln in discounted rights issue

By Paul McBeth

Jul. 24 (BusinessDesk) – Moa Group, the unprofitable boutique beer maker, raised $500,000 from five institutional investors and plans to raise up to $5.25 million in a discounted rights issue to existing shareholders. Read more »

National signals short election campaign with Aug 23 launch

Article – BusinessDesk

National signals short election campaign with Aug 23 launch

July 24 (BusinessDesk) – The governing National Party will campaign for re-election for just four weeks before polling day, Sept 20. Read more »

Sealord appoints ex-McCain Food’s exec Yung as new CEO

Article – BusinessDesk

Sealord appoints ex-McCain Food’s exec Yung as new CEO

By Suze Metherell

July 24 (BusinessDesk) – Sealord Group has appointed former McCain Foods boss Steve Yung as its new chief executive, replacing Graham Stuart who is leaving after seven years in charge of New Zealand’s second-largest fishing company. Read more »

NZ dollar extends drop vs. A$ after Australian CPI

Article – BusinessDesk

NZ dollar extends drop vs. A$ after Australian inflation accelerates; RBNZ looms

By Paul McBeth

July 23 (BusinessDesk) – The New Zealand dollar extended its decline against its trans-Tasman counterpart after Australian government figures showed annual inflation accelerated to its fastest pace in four years, and ahead of the Reserve Bank of New Zealand’s interest rate review tomorrow. Read more »

Griffin’s to ramp up exports under new ownership, CEO says

Article – BusinessDesk

Griffin’s to ramp up exports under new ownership, incoming CEO Taylor says

By Paul McBeth

July 23 (BusinessDesk) – Griffin’s Foods, the maker of Gingernuts and Eta brand snacks, plans to lift exports to more than 50 percent of sales within five years by leveraging new owner Universal Robina Corp’s links in southeast Asia, says incoming chief executive Alison Taylor. Read more »

Fonterra to lay off up to 110 staff at Waikato packing plant

Article – BusinessDesk

Fonterra to lay off up to 110 staff at Waikato packing facility

By Paul McBeth

July 23 (BusinessDesk) – Fonterra Cooperative Group, the world’s biggest dairy exporter, may lay off a third of its workers at the Canpac packing facility in Waikato, which it plans to focus on paediatric nutritional products. Read more »

UPDATE: A2 Milk shares rise from 15-mth low on China licence

Article – BusinessDesk

UPDATE: A2 Milk shares bounce from 15-month low on Chinese licence; Synlait still waiting

(Updates with share movement, broker comment) Read more »

Regulator’s draft view trims returns for network monopolies

Article – BusinessDesk

Regulator’s draft view on monopoly networks would be $33M a year win for consumers

By Pattrick Smellie

July 22 (BusinessDesk) – Electricity and gas consumers will be about $33 million a year better off if a draft decision by the Commerce Commission Read more »

A2 Milk secures Chinese licence, Synlait still waiting

Article – BusinessDesk

A2 Milk secures Chinese licence, Synlait still waiting

By Suze Metherell

July 22 (BusinessDesk) – A2 Milk Co, which markets milk with a protein variant said to have health benefits, has won Chinese regulatory approval to export its a2 Platinum infant formula and says its milk processor Synlait Milk continues to wait for registration. Read more »

Moa boosts first quarter sales, expects higher margins

Article – BusinessDesk

Moa boosts first quarter sales, expects higher margins to drive profits

By Tina Morrison

July 22 (BusinessDesk) – Moa Group, the unprofitable boutique beer maker, increased first quarter sales volumes 95 percent after moving to a more direct distribution structure in New Zealand, its largest market. Read more »

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