Archive for the 'Article' Category

13 companies gain up to $24.5M in R&D grants

Article – BusinessDesk

13 companies gain up to $24.5M in taxpayer-funded R&D grants

By Fiona Rotherham

July 31 (BusinessDesk) – Thirteen companies were the recipients of the latest batch of government-funded research and development growth grants totalling up to $24.5 million over three years, including the listed Eroad receiving its first ever taxpayer assistance since it started commercialisation in 2007. Read more »

NZ dollar falls on Wheeler’s argument for weaker currency

Article – BusinessDesk

NZ dollar falls on Wheeler’s argument for weaker currency, Fed’s view

By Paul McBeth

July 30 (BusinessDesk) – The New Zealand dollar fell as a combination of Reserve Bank governor Graeme Wheeler’s message that the currency needs to depreciate and a more optimistic US labour market view from the US Federal Reserve weighed on the local currency. Read more »

Moa employees get access to new share scheme

Article – BusinessDesk

Moa employees get access to new share scheme

By Paul McBeth

July 30 (BusinessDesk) – Craft beer maker Moa Group will give workers another chance to get shares in the company, with a long-term employee option scheme issuing up to 1.2 million share options, Read more »

Millennium & Copthorne 1H profit soars 93%

Article – BusinessDesk

Millennium & Copthorne 1H profit soars 93% on hotels, property developments

By Paul McBeth

July 30 (BusinessDesk) – Millennium & Copthorne Hotels New Zealand, the hotel operator and property developer, boosted first-half profit by 93 percent as it lifted the performance of its hotel operations and its property developments turned profitable in the period. Read more »

NZ billionaires generally increased their wealth

Article – BusinessDesk

NZ billionaires generally increased their wealth, as record 15 new entrants added to NBR Rich List

July 30 (BusinessDesk) – New Zealand’s billionaires generally increased their wealth in the past 12 months, according to the National Business Review’s 2015 Rich List, which welcomed a record 15 new entrants, bringing the collective wealth of Rich Listers to $68.9 billion. Read more »

CDL Investments lifts 1H profit 3.6% on ‘satisfactory’ sales

Article – BusinessDesk

CDL Investments lifts 1H profit 3.6% on ‘satisfactory’ property sales

By Paul McBeth

July 30 (BusinessDesk) – CDL Investments, the residential property developer controlled by Millennium & Copthorne Hotels New Zealand, lifted first-half profit 3.6 percent on what it called “satisfactory” sales which reflected the current market. Read more »

Jetstar has 6th NZ domestic route, adds trans-Tasman flights

Article – BusinessDesk

Jetstar adds 6th NZ domestic route, bolsters trans-Tasman flights

By Suze Metherell

July 30 (BusinessDesk) – Jetstar, the low-cost offshoot of Australian-owned Qantas Airways, will add a sixth domestic route with a new Wellington/Dunedin schedule and bolster its trans-Tasman flights as it looks to win passengers from dominant rival Air New Zealand. Read more »

NZ home building consents fall 4.1% in June

Article – BusinessDesk

NZ home building consents fall 4.1% in June as Canterbury work tapers off

By Paul McBeth

July 30 (BusinessDesk) – New Zealand residential building consents fell 4.1 percent in June as construction intentions in Canterbury tapered off, with the region’s housing rebuild nearing a plateau. Read more »

Turners buys Southern Finance for $5 million

Article – BusinessDesk

Turners buys Southern Finance for $5 million

By Suze Metherell

July 30 (BusinessDesk) – Turners, formerly known as Dorchester Pacific, has bought Southern Finance for $5 million, giving the finance company greater exposure in the South Island as it continues to expand its loan book. Read more »

Heartland says 2016 profit may rise as much as 15%

Article – BusinessDesk

Heartland says 2016 profit may rise as much as 15%, affirms 2015 guidance

July 30 (BusinessDesk) – Heartland New Zealand, the Auckland-based lender, said profit may rise as much as 15 percent in 2016, while affirming its guidance for earnings this year to reach the top of its forecast range. Read more »

Mainfreight calls for transport strategy involving KiwiRail

Article – BusinessDesk

Mainfreight throws weight behind KiwiRail, laments lack of national transport strategy

By Paul McBeth

July 29 (BusinessDesk) – Mainfreight chairman Bruce Plested has criticised what he says is the government’s lack of a national transport plan, throwing his support behind state-owned rail operator KiwiRail and calling it an integral part of the infrastructure. Read more »

‘Unprecedented’ building activity seen on back of Auckland

Article – BusinessDesk

‘Unprecedented’ building activity seen on back of Auckland’s pent-up housing demand

By Paul McBeth

July 29 (BusinessDesk) – An “unprecedented” level of building work is predicted over the coming six years, due largely to Auckland’s housing boom, a new reports says. Read more »

Ryman seeks 70% 5-year growth, mulls ASX listing

Article – BusinessDesk

Ryman seeks 70% 5-year growth, mulls ASX listing

By Fiona Rotherham

July 29 (BusinessDesk) – Ryman Healthcare, New Zealand’s largest retirement village operator, plans to increase resident numbers by 70 percent in the next five years in New Zealand and Australia as it also mulls an ASX listing. Read more »

CORRECT: Abano shares gain as earnings, dividend impress

Article – BusinessDesk

CORRECT: Abano shares gain as earnings, dividend impress

(Fixes FY dividend in 4th graph)

By Paul McBeth

July 29 (BusinessDesk) – Abano Healthcare shares gained after the specialist medical investor lifted underlying earnings 46 percent, and paid a fatter dividend, underpinned by its dental and audiology businesses. Read more »

Investors go through 9 market cycles throughout their life

Article – BusinessDesk

nvestors go through nine market cycles throughout their lifetime

By Fiona Rotherham

July 29 (BusinessDesk) – An investor is likely to go through nine market upturns and downturns over their lifetime, according to research into market cycles by global asset management firm Russell Investments. Read more »

Westland Milk cuts payout further as dairy prices fall

Article – BusinessDesk

Westland Milk cuts farmgate payout further as weak dairy prices weigh

By Suze Metherell

July 29 (BusinessDesk) – Westland Milk Products, New Zealand’s second-largest dairy cooperative, cut its forecast milk payout to farmers by 10 cents for the current season and for next season’s by $1, in the face of sustained weakness in global dairy prices. Read more »

Affinity approaches bankers ove possible sale of Tegel Foods

Article – BusinessDesk

Affinity approaches bankers over possible sale of Tegel Foods

By Suze Metherell

July 29 (BusinessDesk) – Affinity Equity Partners, the pan-Asian private equity firm, has approached a number of investment banks as it looks to sell New Zealand’s largest poultry business, Tegel Foods. Read more »

UPDATE: Abano shares gain as earnings, dividend impress

Article – BusinessDesk

UPDATE: Abano shares gain as earnings, dividend impress

(Adds broker comment, analyst briefing, updates share price) Read more »

SkyCity says Darwin casino tax impost smaller than expected

Article – BusinessDesk

SkyCity says Darwin casino tax impost smaller than expected

By Paul McBeth

July 29 (BusinessDesk) – SkyCity Entertainment Group, the listed hotel and casino operator, will face a smaller than expected increase in operating costs after Australia’s Northern Territory government completed its review of the state’s gaming taxes. Read more »

Abano posts loss on exit impairments; underlying earnings OK

Article – BusinessDesk

Abano posts loss on exit impairments; underlying earnings at top of guidance

By Paul McBeth

July 29 (BusinessDesk) – Abano Healthcare, the listed healthcare investor, reported an annual loss after recognising impairment charges on the sale of its pathology and orthotics units, though underlying earnings were at the top end of guidance from its dental and audiology businesses. Read more »

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