Archive for the 'Article' Category

Gentrack secures delayed contract, shares rise to month high

Article – BusinessDesk

Gentrack secures delayed contract, shares rise to month high

By Suze Metherell

Sep. 1 (BusinessDesk) – Gentrack Group, the airport and utility software developer, has resolved the delayed contract upgrade with a customer which, in part, caused it to cut its prospectus full-year profit forecast barely six weeks after the company listed on the NZX. The shares gained. Read more »

WDT widens 1H loss, warns FY earnings won’t improve

Article – BusinessDesk

Wellington Drive widens 1H loss, warns FY earnings won’t improve

By Tina Morrison

Aug. 29 (BusinessDesk) – Wellington Drive Technologies, the unprofitable manufacturer of energy efficient motors, widened its first half loss and said full year earnings won’t improve as sales slump in Latin America, its largest market. Read more »

Veritas Investments to buy upmarket Nosh supermarket chain

Article – BusinessDesk

Veritas Investments to buy upmarket Nosh supermarket chain

By Suze Metherell

Aug. 29 (BusinessDesk) – Veritas Investments, which owns the Mad Butcher franchise business, has entered into a conditional agreement to buy the gourmet-supermarket chain, Nosh Food Market from Nosh Management for an undisclosed sum. Read more »

Vector wins tax case over Auckland CBD tunnel payment

Article – BusinessDesk

Vector wins tax case over Auckland CBD tunnel payment

By Paul McBeth

Aug. 29 (BusinessDesk) – Vector, the Auckland electricity and gas network operator, has won a tax case against the Inland Revenue Department over a $53 million payment relating to access rights to its Auckland CBD tunnel. Read more »

NZ dollar heads for 0.5% weekly decline

Article – BusinessDesk

NZ dollar heads for 0.5% weekly decline on brighter US economy, slowing local growth

By Paul McBeth

Aug. 29 (BusinessDesk) – The New Zealand dollar is heading for a 0.5 percent weekly decline against the greenback as the US economy continues to gain momentum, spurring expectations for higher US rates, while the local growth outlook loses its lustre. Read more »

CORRECT: TVNZ lifts annual profit 25% on flat ad revenue

Article – BusinessDesk

CORRECT: TVNZ lifts annual profit 25% on flat ad revenue, quits Igloo

(Fixes ASA ad percentage movements in 10th graph) Read more »

NZ building consents rise 0.1% in July, led by Auckland

Article – BusinessDesk

NZ building consents rise 0.1% in July, as Canterbury consents slow and Auckland picks up

By Tina Morrison

Aug. 29 (BusinessDesk) – New Zealand building consents rose at a modest 0.1 percent pace in July, slower than the 3.5 percent pace in June, reflecting a drop in the number of consents issued in Canterbury and a pick up in Auckland. Read more »

Mercer posts FY loss on new staff hires, tough Aust market

Article – BusinessDesk

Mercer posts annual loss on new staff hires, tough Australian conditions

By Suze Metherell

Aug. 29 (BusinessDesk) – Mercer Group, the stainless steel manufacturer, reported an annual loss as it hired new staff to fuel future profit growth while trading conditions in Australia remained tough. Read more »

TVNZ lifts annual profit 25% on flat ad revenue, quits Igloo

Article – BusinessDesk

TVNZ lifts annual profit 25% on flat ad revenue, quits Igloo

By Paul McBeth

Aug. 29 (BusinessDesk) – Television New Zealand, the state-owned broadcaster, lifted annual profit 25 percent, ahead of forecast and despite a dip in advertising revenue, while quitting its stake in the pay-TV Igloo joint venture with Sky Network Television. Read more »

Delegat FY profit rises 3% as bigger volumes trump kiwi

Article – BusinessDesk

Delegat annual profit rises 3% as increases in volumes outweighs higher currency

By Tina Morrison

Aug. 29 (BusinessDesk) – Delegat Group, New Zealand’s largest listed wine company, increased annual profit 3 percent as record volumes muted the impact of a stronger local currency. Read more »

Scales first-half profit falls on European apple price fall

Article – BusinessDesk

Scales first-half profit falls on lower European apple prices, listing costs

By Suze Metherell

Aug. 29 (BusinessDesk) – Scales Corp, the listed fruit and vegetables logistics company, said first-half profit fell 22 percent from a year earlier, reflecting lower apple prices and the one-off costs of its NZX listing. Read more »

Pumpkin Patch takes $12 mln charge against stores, IT system

Article – BusinessDesk

Pumpkin Patch takes $12 mln charge after latest round of write downs

By Paul McBeth

Aug. 29 (BusinessDesk) – Pumpkin Patch, which slashed its earnings forecast earlier this year, will take a $12 million charge to write down the value of stores and IT software, while posting underlying profit in line with guidance. Read more »

NZ dollar holds gains as Aust capex beats expectations

Article – BusinessDesk

NZ dollar holds gains as Aust capex beats expectations, Fonterra buoys sentiment

By Paul McBeth

Aug. 28 (BusinessDesk) – The New Zealand dollar held gains today after Australian capital expenditure figures beat expectations, adding to optimism about the local economy after Fonterra Cooperative Group affirmed its forecast payout to farmers and signed up to a deal to distribute its products into China. Read more »

Hellaby sinks into the red on footwear writedown

Article – BusinessDesk

Hellaby sinks into the red on footwear writedown, sweetens dividend

By Paul McBeth

Aug. 28 (BusinessDesk) – Hellaby Holdings, the diversified investment company, sank into the red in the latest financial year as it wrote down the value of its footwear unit in a flat retail market. Still, it sweetened its dividend as underlying earnings grow. Read more »

BCS Group leads TIN-100 manufacturing burst in 2014

Article – BusinessDesk

BCS Group leads TIN-100 manufacturing burst in 2014

By Pattrick Smellie

Aug. 28 (BusinessDesk) – Baggage handling software and systems manufacturer BCS Group is the stand-out performer in the 2014 TIN-100 annual report on high tech New Zealand companies, growing total revenues 43 percent to more than $140 million in the latest financial year and targeting annual revenues of $200 million by 2016. Read more »

Airports Association wants regulator to probe Air NZ charges

Article – BusinessDesk

Airports Association wants Commerce Commission to inspect Air NZ’s regional fares

By Suze Metherell

Aug. 28 (BusinessDesk) – The New Zealand Airports Association has called on the Commerce Commission to regulate Air New Zealand’s regional fares, where the national carrier has an effective monopoly. Read more »

Airwork annual profit climbs 52 percent, beating forecast

Article – BusinessDesk

Airwork annual profit climbs 52 percent, beating forecast

By Paul McBeth

Aug. 28 (BusinessDesk) – Airwork Holdings, the aviation services firm which listed last December, boosted annual profit 52 percent on the strength of its helicopter engineering unit, beating guidance. The shares gained. Read more »

A2 Milk to use Australian cash for global expansion

Article – BusinessDesk

A2 Milk, hit by strong kiwi, to use Australian cash for global expansion

By Jonathan Underhill

Aug. 28 (BusinessDesk) – A2 Milk Co, which markets milk with a protein variant said to have health benefits, will ramp up its expansion in the US, the UK and Asia using cash generated in its biggest market of Australia after a year in which a strong kiwi slashed the value of sales and earnings. Read more »

NZ dollar gains as Fonterra affirms milk price

Article – BusinessDesk

NZ dollar gains as Fonterra affirms milk price, announces Chinese joint venture

By Paul McBeth

Aug. 27 (BusinessDesk) – The New Zealand dollar rose after Fonterra Cooperative Group affirmed its forecast milk price payout to farmers, and unveiled a $615 million joint venture with China’s Beingmate. Read more »

Fonterra to offer at least 20% premium for Beingmate shares

Article – BusinessDesk

Fonterra to offer at least 20% premium for Beingmate shares in deal to drive Anmum sales

By Jonathan Underhill

Aug. 27 (BusinessDesk) – Fonterra Cooperative Group will offer a premium of at least 20 percent for a one-fifth stake in Beingmate Baby & Child Food as part of a $615 million investment in a partnership to drive baby food sales into China. Read more »

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