Archive for the 'Article' Category

Business Bakery to accept Trilogy offer

Article – BusinessDesk

Business Bakery to accept Trilogy offer after adviser’s report gives tick to Citic bid

By Paul McBeth

Feb. 16 (BusinessDesk) – The Business Bakery will accept a $2.90 a share offer for its 31 percent stake in Trilogy International from China’s Citic Capital Partners after the independent adviser’s report found the bid was within fair value. Read more »

UPDATE: Auckland Airport says equity raising still possible

Article – BusinessDesk

UPDATE: Auckland Airport’s Littlewood says equity raising still possible as 1H profit rises 17%

(Recasts to reflect interview with Littlewood, share price and investor comment) Read more »

Tourism Holdings forms US$94M JV with Thor Industries

Article – BusinessDesk

Tourism Holdings forms US$94M JV with Thor Industries to connect RV market

Feb. 16 (BusinessDesk) – Tourism Holdings, the world’s largest recreational vehicle rental business, has formed a joint venture with Thor Industries, the world’s largest manufacturer of the vehicles, to develop a single platform to connect a wide range of services in the growing market for RVs. Read more »

Auckland Airport lifts first-half profit by 17%

Article – BusinessDesk

Auckland Airport lifts first-half profit by 17%, tightens full-year guidance

By Jonathan Underhill

Feb. 16 (BusinessDesk) – Auckland International Airport, New Zealand’s busiest gateway, posted a 17 percent gain in first-half profit and said its strong performance gave it the confidence to tighten the range of its full-year guidance for underlying earnings. Read more »

CORRECT: QEX shares jump 80% on debut

Article – BusinessDesk

CORRECT: QEX shares jump 80% on debut as logistics firm joins NXT

(Fixes incorrect listing price in 2nd paragraph and percentage gain in headline, lede; updates current price in 2nd paragraph) Read more »

CBL chief operating officer quits amidst share suspension

Article – BusinessDesk

CBL chief operating officer quits amidst share suspension

By Sophie Boot

Feb. 15 (BusinessDesk) – CBL Corp’s chief operating officer Suzanne Tindal has quit the company, as the company’s stock remains suspended from the NZX over continuous disclosure concerns. Read more »

QEX shares jump 29% on debut as logistics firm joins NXT

Article – BusinessDesk

QEX shares jump 29% on debut as logistics firm joins NXT

By Paul McBeth

Feb. 15 (BusinessDesk) – QEX Logistics shares jumped 29 percent on their debut to the small-cap NXT market in the first new listing of 2018. Read more »

NZ guest nights continue to rise in December

Article – BusinessDesk

By Rebecca Howard

Feb. 15 (BusinessDesk) – New Zealand guest nights rose 4 percent in December from a year earlier as the number of international visitors continued to rise and many traveled to the South Island. Read more »

UPDATE: Skellerup lifts 1H profit 31%

Article – BusinessDesk

UPDATE: Skellerup lifts 1H profit 31% on ‘standout’ industrial unit performance; shares hit record

(Updates to include share price reaction from first paragraph, broker comment in seventh paragraph.) Read more »

NZ house sales rise in January for first time in seven mths

Article – BusinessDesk

By Rebecca Howard

Feb. 15 (BusinessDesk) – The number of property sales across New Zealand rose in January for the first time in seven months but people are taking more time to purchase, according to the Real Estate Institute. Read more »

Skellerup lifts 1H profit 31%, citing ‘standout’ performance

Article – BusinessDesk

By Tina Morrison

Feb. 15 (BusinessDesk) – Skellerup Holdings lifted first-half profit 31 percent thanks to a “standout” performance from its industrial unit which boosted earnings 40 percent, and it forecast an increase in full-year profit. Read more »

Tilt bids for Victorian supply contract

Article – BusinessDesk

Tilt bids for Victorian supply contract using proposed A$600M Dundonnel wind farm

By Paul McBeth

Feb. 14 (BusinessDesk) – Tilt Renewables is bidding for a 15-year power contract with the Victorian state government and would use both new equity and debt to build an A$600 million, 80-turbine wind farm to supply the renewably-sourced electricity. Read more »

Investors have 4-month wait for ‘new-look’ Fletcher Building

Article – BusinessDesk

Investors have 4-month wait for ‘new-look’ Fletcher Building that may shed B+I

By Jonathan Underhill

Feb. 14 (BusinessDesk) – Fletcher Building’s shares tumbled to a two-year low $6.69 today after the company unveiled further provisions at Building + Interiors (B+I) that bring two-year losses at the unit to $952 million. Read more »

UPDATE: Genesis Energy lifts first half earnings 28% on strong wholesale demand

Press Release – BusinessDesk

By Rebecca Howard

Feb. 14 (BusinessDesk) – Genesis Energy lifted first-half earnings 28 percent as low hydro-lake levels in the South Island boosted the company’s demand for wholesale electricity and announced plans to completely phase out coal use by 2030. Read more »

CBL to exit problematic French unit, takes action

Article – BusinessDesk

CBL to exit problematic French unit, takes action against SFS vendors

By Paul McBeth

Feb. 14 (BusinessDesk) – CBL Corp is hiring advisers to sell the French construction insurance division that’s seen it fall foul of regulators over solvency concerns and is pursuing legal action against the vendors of Securities and Financial Solutions Europe SA (SFS). Read more »

FIRST CUT: Genesis first-half earnings gain

Article – BusinessDesk

FIRST CUT: Genesis first-half earnings gain as dry summer boosts wholesale unit, Kupe beds in

Feb. 14 (BusinessDesk) – Genesis Energy lifted first-half earnings 28 percent as low hydro-lake levels in the South Island boosted the company’s demand for wholesale electricity. Read more »

Stiassny hangs up corporate undertaker hat

Article – BusinessDesk

Stiassny hangs up corporate undertaker hat with KordaMentha exit

By Sophie Boot

Feb. 13 (BusinessDesk) – Veteran insolvency specialist Michael Stiassny has ended almost three decades as one of the nation’s premier corporate undertakers, leaving KordaMentha for what he describes as “greener pastures”. Read more »

Tower says summer storms will cost about $5 million

Article – BusinessDesk

Tower says summer storms will cost about $5 million

By Sophie Boot

Feb. 13 (BusinessDesk) – Auckland-based insurer Tower said recent storms will have a financial impact of about $5 million after tax. Read more »

QEX Logistics to list on NXT Market on Feb. 15

Article – BusinessDesk

QEX Logistics to list on NXT Market on Feb. 15

By Rebecca Howard

Feb. 12 (BusinessDesk) – QEX Logistics, a cross-border logistics company, will debut on the NXT market on Feb. 15, aims to eventually list on the NZX and continues to eye expansion in Australia. Read more »

Kim Dotcom’s extradition case opens in the Court of Appeal

Article – BusinessDesk

Kim Dotcom’s extradition case opens in the Court of Appeal

By Sophie Boot

Feb. 12 (BusinessDesk) – Internet entrepreneur Kim Dotcom’s extradition case reached the Court of Appeal this morning, as Dotcom and his three co-accused continue to fight attempts to remove them to the United States. Read more »

Next Page »