Article – BusinessDesk

By Pattrick Smellie

May 24 (BusinessDesk) – The government’s decision to relax its Budget Responsibility Rules has attracted a balance of positive and negative criticism, suggesting it’s pitched about right, said Prime Minister Jacinda Ardern in a speech to an Auckland business audience ahead of Finance Minister Grant Robertson’s first “well-being Budget”, next Thursday. Read more »

Article – BusinessDesk

Gentrack posts $8.7M loss on CA Plus write-down
By Gavin Evans

May 24 (BusinessDesk) – Utilities software specialist Gentrack Group has reported an $8.7 million first-half loss after writing off the value of airport software developer CA Plus it acquired in 2017. Read more »

Article – BusinessDesk

Westpac says RBNZ capital proposals would add $6,000 p.a. to an Auckland mortgage
By Jenny Ruth

May 24 (BusinessDesk) – Westpac says the Reserve Bank’s bank capital proposals will mean homeowners with an average mortgage in Auckland will be paying about $6,000 a year more in interest. Read more »

Article – BusinessDesk

Ryman hikes dividend as annual earnings grow on wider development margin
By Paul McBeth

May 24 (BusinessDesk) – Ryman Healthcare will pay a bigger return to shareholders after chalking up another record earnings result on wider development margins, despite slowing sales. Read more »

Article – BusinessDesk

Freightways says express package growth slowed in 2H, may flow into FY2020
By Rebecca Howard

May 23 (BusinessDesk) – Freightways says softer express package business growth in the second half poses some risks for the 2020 financial year. Read more »

Article – BusinessDesk

By Gavin Evans

May 23 (BusinessDesk) – A proposed national infrastructure commission needs to address gaps in regional planning and could play a more active role in setting standards for smaller councils to work to, lawmakers heard yesterday. Read more »

Article – BusinessDesk

By Nikki Mandow

May 22 (BusinessDesk) – It’s tough being a media company. And nowhere is this more apparent than for MediaWorks Investments, home of the Three TV channel, the Edge and More radio stations, among others. Read more »

Article – BusinessDesk

By Rebecca Howard

May 22 (BusinessDesk) – New Zealand’s loan-to-value ratio restrictions have been effective in improving financial stability but the policy comes with drawbacks, says the Reserve Bank after a detailed review. Read more »

Article – BusinessDesk

By Jenny Ruth

May 22 (BusinessDesk) – Westpac is expecting house price inflation to take off again thanks to the government’s decision to scrap plans for a capital gains tax and falling mortgage rates. Read more »

Article – BusinessDesk

By Gavin Evans

May 21 (BusinessDesk) – A new taxiway and aircraft parking area will increase Auckland International Airport’s airfield by about 18 percent and free up land for the next phase of its development. Read more »

Article – BusinessDesk

IRD should have doubled claim against Watson’s Cullen Group – Professor

By Jenny Ruth

May 21 (BusinessDesk) – Inland Revenue Commissioner Naomi Ferguson should have asked the courts for twice as much as it was awarded earlier this month against Eric Watson’s Cullen Group, according to a University of Auckland law professor. Read more »

Article – BusinessDesk

UPDATE: Kiwi Property lifts annual profit 15% as valuations rise
(Updates with further details from par 8)

By Jenny Ruth Read more »

Article – BusinessDesk

Kiwi Property lifts annual profit 15% as valuations rise

By Jenny Ruth

May 20 (BusinessDesk) – Kiwi Property Group says annual net profit rose 15 percent, driven mainly by the rising values of its properties. Read more »

Article – BusinessDesk

Northland rail upgrade a strategic, not commercial investment – Aecom
By Gavin Evans

May 20 (BusinessDesk) – Building a new rail link to Marsden Point and upgrading the existing Northland line could bring forward Northport’s development as a major freight handler for Auckland and help boost the broader regional economy, an economic analysis says. Read more »

Article – BusinessDesk

Fletcher-commissioned Deloitte report shows building material costs are low

By Jenny Ruth

May 17 (BusinessDesk) – The cost of building materials in New Zealand account for between 16-24 percent of the cost of residential housing development costs, depending on the type of building and location, according to a study by accounting firm Deloitte. Read more »

Article – BusinessDesk

Rangatira to up Magritek stake; seeks Hellers replacements
By Gavin Evans

May 16 (BusinessDesk) – Rangatira Investments plans to increase its holding in research technology business Magritek as it deploys funds from the sale of its interest in smallgoods maker Hellers. Read more »

Article – BusinessDesk

By Nikki Mandow

May 16 (BusinessDesk) – When Kiwibank CEO Steve Jurkovich stands up to address the Grey Power annual meeting next week, he might want to wear his bulletproof vest. Read more »

Article – BusinessDesk

Rakon lifts annual earnings 10% on growing demand for telco infrastructure

By Rebecca Howard

May 16 (BusinessDesk) – High-tech components maker Rakon lifted full-year earnings 10 percent, meeting guidance, as 4.5/5G telecommunications infrastructure demand continues to grow. But profits were down on last year and debt soared. Read more »

Article – BusinessDesk

Goodman Property profit jumps 64.7% on valuation and development gains

By Jenny Ruth

May 15 (BusinessDesk) – Goodman Property Trust lifted annual statutory net profit 64.7 percent, boosted by big valuation gains and as its manager sold assets and developed new ones to create a pure Auckland industrial property portfolio. Read more »

Article – BusinessDesk

By Gavin Evans

May 15 (BusinessDesk) – Discount fuel retailer Waitomo Group expects to open five to six new outlets annually as it builds out its national network. Read more »