Archive for the 'Article' Category

Nuplex boosts annual dividend 28%, lifts payout range

Article – BusinessDesk

Nuplex boosts annual dividend 28%, lifts payout range

By Suze Metherell
May 22 (BusinessDesk) – Nuplex Industries, the specialty chemical and resin maker, expects to increase its annual dividend by nearly a third and has lifted payout ratio to 60 percent of profit. Read more »

FMA probes Arena Capital, operating as BlackfortFX

Article – BusinessDesk

FMA probes Arena Capital, operating as BlackfortFX

May 21 (BusinessDesk) – The Financial Markets Authority is investigating a Christchurch company called Arena Capital, trading as foreign exchange services provider BlackfortFX, saying it is concerned investor funds may be at risk. Read more »

Scutts found guilty of fraud after accepting kickbacks

Article – BusinessDesk

Scutts found guilty of fraud after accepting kickbacks in wine industry

By Anna Lu

May 21 (BusinessDesk) – Peter Scutts, the former head of New Zealand Wine Co, was found guilty of 17 fraud charges laid by the Serious Fraud Office in the Auckland High Court today. Read more »

Rakon returns to annual profitability

Article – BusinessDesk

Rakon returns to profitability, while doubling debt, after restructure

By Suze Metherell
May 21 (BusinessDesk) – Rakon, the high-tech components manufacturer, has returned to profitability while doubling its debt and turning to a negative cash outflow, after an overhaul of operations which saw it closes its UK plant and shift production to India and New Zealand. Read more »

DNZ posts 66% gain in annual profit

Article – BusinessDesk

DNZ posts 66% gain in annual profit as it divests properties, reduces costs

By Tina Morrison

May 21 (BusinessDesk) – DNZ Property Fund, the sixth-biggest property stock on the NZX 50 Index by market capitalisation, posted a 66 percent gain in annual profit as it benefited from its property divestment plan, selling five properties and boosting the value of its remaining assets, and costs fell. Read more »

CORRECT: Intueri sees FYearnings at bottom end of guidance

Article – BusinessDesk

CORRECT: Intueri sees annual earnings at bottom end of guidance

(Corrects forecast range in second paragraph)
By Paul McBeth Read more »

Augusta Capital increases FY earnings by 5%

Article – BusinessDesk

Augusta increases FY earnings 5% as funds management offsets rental decline

By Paul McBeth

May 21 (BusinessDesk) – Augusta Capital, the listed property investor and fund manager, increased annual earnings by 5 percent as gains from its funds management business offset a decline in rental income. Read more »

Intueri sees annual earnings at bottom end of guidance

Article – BusinessDesk

Intueri sees annual earnings at bottom end of guidance

By Paul McBeth

May 21 (BusinessDesk) – Intueri Education Group, New Zealand’s largest private training college, expects annual earnings will be at the bottom end of guidance based on current trading performance, having missed prospectus targets in calendar 2014. Read more »

NZ dollar drops to 2-month low on outlook for rate cuts

Article – BusinessDesk

NZ dollar drops to 2-month low on outlook for interest rate cuts

By Tina Morrison

May 21 (BusinessDesk) – The New Zealand dollar fell to a two-month low as expectations of interest rate cuts weighed on the currency. Read more »

NZ dollar falls on optimism for US economy; Fed minutes loom

Article – BusinessDesk

NZ dollar falls on growing optimism over US economy; FOMC minutes loom

By Paul McBeth

May 20 (BusinessDesk) – The New Zealand dollar fell as investor optimism about the strength of the US economy, ahead of minutes to the last Federal Open Market Committee meeting, underpins the greenback. Read more »

Colin McKenzie steps down as Cavalier CEO ahead of FY loss

Article – BusinessDesk

Colin McKenzie steps down as Cavalier CEO ahead of writedowns that will lead to FY loss

By Jonathan Underhill

May 20 (BusinessDesk) – Colin McKenzie has stepped down as managing director and chief executive of Cavalier Corp ahead of asset write downs that will result in a full-year loss for the carpet maker. Read more »

APN’s NZME sees future in paywalls, growth in digital sales

Article – BusinessDesk

APN’s NZME sees future in paywalls, growth in share of digital sales

May 20 (BusinessDesk) – APN News & Media has touted a single newsroom concept for its NZME unit in New Zealand, similar to what Germany’s Die Welt uses, saying an “integrated sales proposition” is helping it win market share, including 20 percent of the nation’s online revenue market. Read more »

Consumer NZ ramps up campaign to get Qantas’s Jetstar to dro

Article – BusinessDesk

Consumer NZ ramps up campaign to get Qantas’s Jetstar to drop pre-ticked booking forms

May 20 (BusinessDesk) – Consumer NZ is calling on the public to lobby Qantas Airways’s Jetstar subsidiary to drop the use of pre-ticked boxes in its online booking forms that add extras to ticket prices some travellers may not want. Read more »

Goodman Property lifts FY earnings 5.4% on revenue growth

Article – BusinessDesk

Goodman Property lifts FY earnings 5.4% on revenue growth, cost clamp down

By Paul McBeth

May 20 (BusinessDesk) – Goodman Property Trust, which has teamed up with Singapore government-owned GIC to develop the Auckland Viaduct Quarter, lifted annual earnings 5.4 percent as it reaped higher rental revenue while clamping down on costs. Read more »

TruScreen to raise up to $4 mln to fund Chinese expansion

Article – BusinessDesk

TruScreen to raise up to $4 mln to fund Chinese expansion

By Paul McBeth
May 20 (BusinessDesk) – NZAX-listed TruScreen will seek to raise up to $4 million to ramp up manufacturing of its single use sensors as it targets China with its cervical cancer screen system having recently won regulatory approval to service the world’s most populous nation. Read more »

NZ dollar slips as US dollar gains on upbeat housing data

Article – BusinessDesk

NZ dollar slips as US dollar gains on upbeat housing data

By Tina Morrison

May 20 (BusinessDesk) – The New Zealand dollar fell as the greenback strengthened following better-than-expected US housing data, boosting optimism the world’s biggest economy may be recovering after a weak first quarter. Read more »

NZ dollar gains on higher inflation expectations; GDT looms

Article – BusinessDesk

NZ dollar gains on higher inflation expectations; dairy auction looms

By Paul McBeth

May 19 (BusinessDesk) – The New Zealand dollar gained after the Reserve Bank’s survey of inflation expectations showed firms raised their projections for consumer prices in the coming two years, ahead of the latest GlobalDairyTrade auction, which will provide a gauge on the health of the country’s biggest export. Read more »

NZ inflation expectations creep higher in June survey

Article – BusinessDesk

NZ inflation expectations creep higher in June survey; kiwi gains

By Paul McBeth

May 19 (BusinessDesk) – New Zealand businesses lifted their expectations for inflation over the next two years, sapping any immediate pressure on the Reserve Bank to cut interest rates, and prompting the kiwi dollar to jump higher. Read more »

Snowtown sale likely to fund more Aussie Trustpower projects

Article – BusinessDesk

Snowtown wind project sale likely to fund more Australian projects for Trustpower

By Pattrick Smellie

May 19 (BusinessDesk) – Infratil expects its 68 percent-owned utility Trustpower to sell down its stake in the now completed Snowtown wind power project in South Australia to fund other emerging renewable energy opportunities in Australia, said Infratil chief executive Marko Bogoievski. Read more »

NZ export log prices hit 3-year low; may start picking up

Article – BusinessDesk

NZ export log prices hit 3-year low; may start picking up as demand improves

By Tina Morrison

May 19 (BusinessDesk) – New Zealand export log prices, which fell to a three-year low this month, may start to pick up as demand improves in China, the country’s largest market. Read more »

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