Archive for the 'Article' Category

South Port posts record annual profit as volumes rise

Article – BusinessDesk

South Port posts record annual profit as stock food, logs drive cargo volumes

By Paul McBeth

Aug. 20 (BusinessDesk) – South Port New Zealand, the Bluff port operator, lifted annual profit 2.7 percent to a record as increased volumes of stock food and logs drove cargo growth. Read more »

F&P Healthcare lifts full-year profit guidance 3%

Article – BusinessDesk

F&P Healthcare lifts full-year profit guidance 3% on falling kiwi

By Suze Metherell

Aug. 20 (BusinessDesk) – Fisher & Paykel Healthcare raised its annual profit forecast by 3 percent, saying the New Zealand dollar is boosting the value of respiratory and breathing apparatus sold overseas. The shares rose to the highest in at least two decades. Read more »

Airways sees 27% gain in 2015 profit, misses 2014 target

Article – BusinessDesk

Airways NZ forecasts 2015 profit to rise 27%, after missing 2014 target

By Tina Morrison

Aug. 20 (BusinessDesk) – Airways Corp. of New Zealand expects to boost profit 27 percent this year, after missing its target last year, on optimism the state-owned air traffic controller’s global commercial partnerships will start to bear fruit. Read more »

UPDATED: Fletcher to cut costs, protect margins in 2015

Article – BusinessDesk

UPDATED: Fletcher cost cutting, margin protection to help drive 2015 earnings growth

By Jonathan Underhill

Aug. 20 (BusinessDesk) – Fletcher Building is counting on cost savings and a backlog of construction work in New Zealand to help drive earnings growth in 2015, which started from a lower base after the sale of assets and completion of major contracts. Read more »

Fletcher FY profit rises 4% as currency, charges mask growth

Article – BusinessDesk

Fletcher full-year profit rises 4% as currency impact, charges mask earnings growth

By Jonathan Underhill

Aug. 20 (BusinessDesk) – Fletcher Building, the biggest company on the NZX 50 Index, posted a 4 percent gain in full-year profit, saying strong underlying earnings growth was masked by the impact of a high kiwi dollar and one-time charges against assets sales. Read more »

Pumpkin Patch chair Freeman joins Kiwi Income board

Article – BusinessDesk

Pumpkin Patch chair Jane Freeman joins Kiwi Income Property board

By Suze Metherell

Aug. 20 (BusinessDesk) – Jane Freeman, chair of childrenswear retailer Pumpkin Patch, has been appointed to the board of listed property investor Kiwi Income Property Trust’s manager. Read more »

NZ dollar falls as falling milk prices put auction in focus

Article – BusinessDesk

NZ dollar declines as falling milk prices put auction in focus

By Paul McBeth

Aug. 19 (BusinessDesk) – The New Zealand dollar fell as increased focus on the upcoming Fonterra Cooperative Group online dairy auction keeps the local currency under pressure. Read more »

Freightways posts 3% gain in full-year profit

Article – BusinessDesk

Freightways posts 3% gain in full-year profit, sees further growth in 2015

By Jonathan Underhill

Aug. 18 (BusinessDesk) – Freightways, New Zealand’s largest listed courier and data management company, posted a 3 percent gain in full-year profit, driven by growth in its express package and business mail business, and said it expects further growth in 2015. Read more »

Westpac, BNZ next up in bank fees’ class suit

Article – BusinessDesk

Westpac, BNZ next up in bank fees’ class suit

By Paul McBeth

Aug. 18 (BusinessDesk) – Westpac Banking Corp and Bank of New Zealand are the next two lenders to face a class suit over penalty fees. Read more »

Hallenstein says annual profit falls 25%

Article – BusinessDesk

Hallenstein says annual profit falls 25% as second half disappoints

By Paul McBeth

Aug. 18 (BusinessDesk) – Hallenstein Glasson said annual profit fell 25 percent as the listed clothing chain failed to gain enough momentum in the second half to make up for a lacklustre first six months of the year. Read more »

Turners Group lifts 1H profit 5.9%

Article – BusinessDesk

Turners Group lifts 1H profit 5.9% as cheap imports attract customers

By Paul McBeth

Aug. 15 (BusinessDesk) – Turners Group NZ, Read more »

Steel & Tube lifts profit 15% buoyed by Tata Steel purchase

Article – BusinessDesk

Steel & Tube lifts profit 15% as Tata Steel acquisition boosts sales

By Suze Metherell

Aug. 15 (BusinessDesk) – Steel & Tube, which manufacturers steel building products, lifted annual profit 15 percent as its sales were boosted from its April purchase of a stainless steel goods maker. Read more »

NZ dollar gains after retail sales beats expectations

Article – BusinessDesk

NZ dollar gains after retail sales beats expectations

By Paul McBeth

Aug. 14 (BusinessDesk) – The New Zealand dollar gained after government figures showed better-than-expected consumer spending in the second quarter, stoking optimism about the strength of the local economy. Read more »

UPDATE: Pushpay jumps 50% in first trade on NZAX

Article – BusinessDesk

UPDATE: Pushpay jumps 50% in first trade as handful of shares change hands

(Updates with share price movement)

By Suze Metherell Read more »

Pushpay lists on NZAX at $1 after $9 million capital raise

Article – BusinessDesk

Pushpay lists on NZAX at $1 after $9 million capital raise for private investors

By Suze Metherell

Aug. 14 (BusinessDesk) – Pushpay, the mobile payment app company, has debuted on the New Zealand Alternative Index at $1, after raising new equity in a private share offer to fund international growth plans. Read more »

Vital Healthcare lifts profit 7.8% on revaluation gains

Article – BusinessDesk

Vital Healthcare lifts profit 7.8% on revaluation gains, chases ageing Australasian populations

By Suze Metherell Read more »

Nuplex posts 18% profit gain on lift in Asia, Europe

Article – BusinessDesk

Nuplex posts 18% gain in full-year profit on lift in Asia, Europe resin margins

By Jonathan Underhill

Aug. 14 (BusinessDesk) – Nuplex Industries, which twice lowered its earnings guidance, posted full-year profit growth of 18 percent as the chemicals manufacturer fattened its margin on coating resins in Asia and Europe. Read more »

Hager links PM, Whaleoil in pre-election Dirty Politics book

Article – BusinessDesk

Hager links PM Key and Whaleoil in election eve ‘Dirty Politics’ book

By Pattrick Smellie

Aug. 13 (BusinessDesk) – A member of Prime Minister John Key’s press office, Jason Ede, hacked into Labour Party computers and stole donor and membership information, according to a new book by political journalist and activist Nicky Hager. Read more »

Auckland, Napier ports team up with Icepak for P’North hub

Article – BusinessDesk

Auckland, Napier ports team up with Icepak for Palmerston North hub

By Paul McBeth

Aug. 13 (BusinessDesk) – Ports of Auckland, Napier Port and storage and logistics group Icepak New Zealand have set up a joint venture to build an inland port and freight hub in Palmerston North. Read more »

Sky City may JV with developers, investors in $807M projects

Article – BusinessDesk

Sky City may JV with hotel developers, investors in $807M expansion, Morrison says

By Jonathan Underhill

Aug. 13 (BusinessDesk) – SkyCity Entertainment Group, New Zealand’s only listed casino company, would consider partnering with developers or hotel investors to part fund some $807 million of spending on its expansion in Auckland and Adelaide, chief executive Nigel Morrison says. Read more »

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