Archive for the 'Article' Category

Dorchester closes oversubscribed $30M capital raise

Article – BusinessDesk

Dorchester closes $30 million capital raise, applications exceed offer

By Suze Metherell

Oct. 24 (BusinessDesk) – Dorchester Pacific, the finance company midway through a takeover for Turners Group, has closed its $30 million capital raising saying the offer was oversubscribed. Read more »

Sky TV to launch $20/month subscription ondemand service

Article – BusinessDesk

Sky TV to launch $20/month subscription video ondemand service

By Fiona Rotherham

Oct. 24 (BusinessDesk) – Sky Network Television, the country’s dominant pay-TV operator, will launch a new $20 a month subscription video ondemand service, Neon, in December, targeting non-Sky customers as it faces intensifying competition for viewers. Read more »

Cavalier shares drop 10% after profit warning

Article – BusinessDesk

Cavalier shares drop 10% after profit warning

By Paul McBeth

Oct. 24 (BusinessDesk) – Shares of Cavalier Corp dropped 10 percent after the carpet maker warned it will probably miss earnings guidance due to a strong kiwi dollar against its Australian counterpart and a high price of wool. Read more »

Sky TV sees annual profit gain of up to 8.6% in 2015

Article – BusinessDesk

Sky TV sees annual profit gain of up to 8.6% in 2015, flags new ondemand service

By Paul McBeth

Oct. 24 (BusinessDesk) – Sky Network Television, the country’s dominant pay-TV operator, sees annual profit rising as much as 8.6 percent in the 2015 financial year, and plans to upgrade its customer set-top boxes and roll out a new web-based ondemand service. Read more »

DNZ revalues portfolio by $10.7 million

Article – BusinessDesk

DNZ revalues portfolio by $10.7 million

By Suze Metherell

Oct. 24 (BusinessDesk) – DNZ Property Fund, the listed property investor, boosted its portfolio value by $10.7 million in the first half and has leased over three quarters of its new Auckland mall. Read more »

DNZ revalues portfolio up by $10.7 million

Article – BusinessDesk

DNZ revalues portfolio up by $10.7 million

By Suze Metherell

Oct. 24 (BusinessDesk) – DNZ Property Fund, the listed property investor, boosted its portfolio value by $10.7 million in the first half and has leased over three quarters of its new Auckland mall. Read more »

Sealegs turns first-half profit

Article – BusinessDesk

Sealegs turns first-half profit as local market drives sales, Brazil opens new doors

By Paul McBeth

Oct. 24 (BusinessDesk) – Sealegs Corp, which makes amphibious boats, turned a first-half profit after strong local demand underpinned a pick-up in sales, and as it taps new markets in South America. Read more »

Sky TV signs conditional deal to renew rugby rights

Article – BusinessDesk

Sky TV signs conditional deal to renew rugby rights; shares gain

By Tina Morrison

Oct. 24 (BusinessDesk) – Sky Network Television, New Zealand’s dominant pay-TV company, has signed a conditional contract to renew its five-year deal with the New Zealand Rugby Union and the SANZAR unions for an undisclosed amount. The shares rose to a two-week high. Read more »

Auckland Airport’s duty free told to drop the hard sell

Article – BusinessDesk

Auckland Airport’s duty free retailers told to drop the hard sell

By Fiona Rotherham

Oct. 23 (BusinessDesk) – Auckland International Airport, the country’s main gateway, said it had talked to its two duty free retailers following what it called “over-zealous competition” at the airport. Read more »

Fonterra starts consultation on two new SI milk driers

Article – BusinessDesk

Fonterra starts consultation on two new South Island milk driers

By Fiona Rotherham

Oct. 23 (BusinessDesk) – Fonterra Co-operative Group, the world’s biggest dairy exporter, has begun a consultation process prior to lodging consent applications to build two new high-efficiency milk powder driers at its Studholme site in South Canterbury. Read more »

CarbonScape seeks $1.5M from crowd with ‘green coke’ offer

Article – BusinessDesk

CarbonScape seeks $1.5 mln from crowd with ‘green coke’ offer

By Suze Metherell

Oct. 23 (BusinessDesk) – CarbonScape, which makes “green” coking charcoal, wants to raise as much as $1.5 million from equity crowd funding to commercialise its product for the steel manufacturing market. Read more »

BNZ CEO Healy calls on business leaders to help improve NZ

Article – BusinessDesk

BNZ chief executive Healy calls on business leaders to help fix five key NZ challenges

By Fiona Rotherham

Oct. 23 (BusinessDesk) – Bank of New Zealand chief executive Anthony Healy has challenged other Kiwi business leaders to think what they can do to contribute to five key issues the country faces. Read more »

Auckland Airport confirms earnings guidance of $160-$170 mln

Article – BusinessDesk

Auckland Airport confirms earnings guidance of $160-$170 million

By Fiona Rotherham

Oct. 23 (BusinessDesk) – Auckland International Airport, the country’s main gateway, has confirmed it’s likely to deliver an underlying net profit of between $160 million and $170 million this financial year, in line with the guidance it gave in August. Read more »

NZ dollar drops after tepid inflation opens path lower

Article – BusinessDesk

NZ dollar drops after tepid inflation opens path lower

By Paul McBeth

Oct. 23 (BusinessDesk) – The New Zealand dollar fell about half a US cent after tepid local inflation pushed out the likely timeline for future interest rate hikes and cleared the way for a lower currency. Read more »

Restaurant Brands raises annual profit forecast; shares jump

Article – BusinessDesk

Restaurant Brands raises annual profit forecast; shares jump to a record

By Tina Morrison

Oct. 23 (BusinessDesk) – Restaurant Brands New Zealand, the nation’s largest fast food operator, raised its annual profit forecast as it benefits from lower input costs, higher sales and restructuring of stores. The shares rose to a record. Read more »

NZ 3Q inflation misses expecations; kiwi drops

Article – BusinessDesk

NZ inflation steady at 0.3% in third quarter, slower than expectations; kiwi drops

By Paul McBeth

Oct. 23 (BusinessDesk) – New Zealand inflation was steady in the third quarter of the year, slowing the annual pace of price increases, and raising the prospect of interest rates staying lower for longer after the data fell short of expectations. The New Zealand dollar fell. Read more »

NZ dollar gains after Australian inflation higher

Article – BusinessDesk

NZ dollar gains after Australian inflation higher than expected

By Paul McBeth

Oct. 22 (BusinessDesk) – The New Zealand dollar rose after Australian inflation was a little higher than expected in the third quarter, supporting demand for the Australian dollar and dragging the kiwi with it. Read more »

Quattro IPO back on as it halves NZ property portfolio

Article – BusinessDesk

Quattro IPO back on as it halves NZ property portfolio, cuts capital raise by 28%

By Suze Metherell

Oct. 22 (BusinessDesk) – Quattro Income REIT, an Australian asset management company, has resumed plans to list a New Zealand property portfolio, albeit a smaller number of properties, and has shaved nearly a third off the capital it wants to raise in a public offer on the ASX. Read more »

Vector warns on $80M hit from falling electricity use: CEO

Article – BusinessDesk

Vector warns on $80 mln hit from falling electricity consumption, CEO says

By Suze Metherell

Oct. 22 (BusinessDesk) – Vector, the Auckland lines company, says falling electricity consumption will cost it up to $80 million because of the way it’s regulated, according to chief executive Simon Mackenzie. Read more »

Orion private placements provide clue for IPO price

Article – BusinessDesk

Orion private placements provide clue for IPO price

By Fiona Rotherham

Oct. 22 (BusinessDesk) – Recent issues of Orion Health Group shares to private investors provide clues to the issue price in its upcoming initial public offer, Read more »

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