Archive for the 'Article' Category

Fonterra ownership structure ‘not on the table’

Article – BusinessDesk

Fonterra ownership structure ‘not on the table’, says director Scott St John

By Paul McBeth

Aug. 18 (BusinessDesk) – Fonterra Cooperative Group won’t be changing its ownership structure, but is keen on bringing on partners to fund future projects, says director Scott St John. Read more »

Get politics out of infrastructure investment: Jones

Article – BusinessDesk

Get politics out of infrastructure investment: Jones

By Gavin Evans

Aug. 17 (BusinessDesk) – An independent infrastructure agency the government hopes to have operating late next year may help take the politics out of development decisions, Infrastructure Minister Shane Jones says. Read more »

Brilliance International fined $540k over steel mesh

Article – BusinessDesk

Brilliance International fined $540k over steel mesh representations

By Paul McBeth

Aug. 17 (BusinessDesk) – Brilliance International has been fined $540,000 after pleading guilty to breaking fair trading law by claiming steel mesh met standards that it actually did not. Read more »

Invocare expands its NZ funeral business

Article – BusinessDesk

Invocare expands its NZ funeral business, adding 3 funeral homes

By Tina Morrison

Aug. 17 (BusinessDesk) – Invocare, New Zealand’s largest funeral company, has been expanding its reach across the country, with three new funeral homes purchased in the past three months, adding an extra $12 million to the firm’s annual revenue. Read more »

Action needed to boost EV take-up – Drive Electric

Article – BusinessDesk

By Gavin Evans

Aug. 17 (BusinessDesk) – The government needs to be acting now if it is to sustain take-up of electric vehicles as part of its emissions reduction strategy, industry lobby group Drive Electric says. Read more »

Tourism Holdings CFO Davis on medical leave until next month

Article – BusinessDesk

By Paul McBeth

Aug. 17 (BusinessDesk) – Tourism Holdings chief financial officer Mark Davis is on medical leave until next month and will miss an already delayed annual results announcement. Read more »

Downer’s NZ revenue jumps 59%

Article – BusinessDesk

Downer’s NZ revenue jumps 59% as Hawkins makes full contribution

By Paul McBeth

Aug. 16 (BusinessDesk) – Sales at Downer EDI’s New Zealand division rose 59 percent, benefitting from last year’s purchase of parts of the Hawkins Group. Read more »

More ambition needed to lift productivity

Article – BusinessDesk

More ambition needed to lift productivity, home-building, Twyford says

By Gavin Evans

Aug. 16 (BusinessDesk) – New Zealand needs to be more ambitious if it is to improve the performance of its major centres and the contribution they make to the national economy, Housing and Development Minister Phil Twyford said today. Read more »

UPDATE: Skellerup lifts annual profit 23% to a record

Article – BusinessDesk

UPDATE: Skellerup lifts annual profit 23% to a record; shares hit new high

(Adds share reaction, broker comment)

By Tina Morrison Read more »

Precinct Properties still backs Fletcher

Article – BusinessDesk

Precinct Properties still backs Fletcher as Commercial Bay development pushed out

By Rebecca Howard

Aug. 16 (BusinessDesk) – Precinct Properties New Zealand says the Commercial Bay project in downtown Auckland will be completed a little later than scheduled but is still backing contractor Fletcher Construction to complete the $1 billion development. Read more »

Skellerup lifts annual profit 23%

Article – BusinessDesk

Skellerup lifts annual profit 23% to a record on agri, industrial growth

By Tina Morrison

Aug. 16 (BusinessDesk) – Skellerup Holdings, the rubber goods manufacturer best known throughout rural New Zealand for its iconic ‘red band’ gumboot, lifted annual profit to a record as both its industrial and agri divisions boosted earnings. Read more »

Cooks Global Foods to buy Mojo for $19M

Article – BusinessDesk

Cooks Global Foods to buy Mojo for $19M, chase North American growth

By Paul McBeth

Aug. 15 (BusinessDesk) – Cooks Global Foods will buy Mojo Coffee Cartel for $19 million and support the well-known Wellington chain’s US expansion plans. Read more »

IAG almost doubles NZ earnings despite Fehi, Gita

Article – BusinessDesk

IAG almost doubles NZ earnings despite Fehi, Gita

By Gavin Evans

Aug. 15 (BusinessDesk) – Insurance Australia Group’s full-year earnings in New Zealand almost doubled despite cyclones earlier this year pushing natural peril claims beyond expectations for a second year running. Read more »

Heartland sees more earnings growth in 2019

Article – BusinessDesk

Heartland sees more earnings growth in 2019 after lifting annual profit 11%

By Rebecca Howard

Aug. 15 (BusinessDesk) – Heartland Bank is eyeing up acquisitions to maintain double-digit earnings growth in 2019 after its reverse mortgage business underpinned an 11 percent gain in annual profit. Read more »

NZ house sales flat in July as Auckland market settles

Article – BusinessDesk

NZ house sales flat in July as Auckland market settles, prices gain

By Paul McBeth

Aug. 15 (BusinessDesk) – New Zealand house sales were largely flat in July as activity in the dominant Auckland market settled down in what’s typically the quietest winter month. Read more »

Continuous disclosure doesn’t extend to voluntary admins

Article – BusinessDesk

High Court rules continuous disclosure doesn’t extend to voluntary administrations

By Paul McBeth

Aug. 15 (BusinessDesk) – The High Court has ruled listed firms in voluntary administration don’t need to meet NZX’s continuous disclosure obligations designed to protect the integrity of trading. Read more »

Fonterra CEO Spierings goes early after milk price trimmed

Article – BusinessDesk

Fonterra CEO Spierings goes early after milk price trimmed, dividend cut

By Paul McBeth

Aug. 15 (BusinessDesk) – Fonterra Cooperative Group chief executive Theo Spierings is leaving the role early after the world’s biggest dairy exporter lowered its farmgate payout and trimmed its dividend to retain cash. Read more »

Rubicon’s long-serving duo executive to depart

Article – BusinessDesk

Rubicon’s long-serving executive duo Moriarty, Taylor to depart

By Paul McBeth

Aug. 14 (BusinessDesk) – Rubicon’s founding executive duo Luke Moriarty and Mark Taylor will leave the forestry biotech investment firm following a recent boardroom shake-up. Read more »

Summerset notes flattening property market as earnings rise

Article – BusinessDesk

Summerset notes flattening property market as earnings rise 27%

By Paul McBeth

Aug. 14 (BusinessDesk) – Summerset Group Holdings said a flatter property market is providing smaller valuation gains for the retirement village operator and developer. Read more »

Use more private funds for infrastructure

Article – BusinessDesk

Use more private funds for infrastructure, Chapman Tripp tells govt

By Gavin Ellis

Aug. 14 (BusinessDesk) – New Zealand risks falling further behind in its infrastructure development unless it can adopt new tools for funding development and better prioritise the work needed, Chapman Tripp says. Read more »

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