Archive for the 'Article' Category

Tourism Holdings lifts annual profit forecast to $17 million

Article – BusinessDesk

Tourism Holdings lifts annual profit forecast to $17 million

By Suze Metherell

Dec. 18 (BusinessDesk) – Tourism Holdings, the biggest campervan rental company in Australia and New Zealand, has lifted its forecast for first-half and annual earnings for a second time on favourable trading conditions. Read more »

All Black Dan Carter increased his shareholding in Arvida

Article – BusinessDesk

All Black Dan Carter increased his shareholding in newly-listed Arvida

By Fiona Rotherham

Dec. 18 (BusinessDesk) – All Black Dan Carter said he increased his shareholdings in the retirement village sector when supporting the initial public offer of Arvida Group which debuted on the NZX this morning. Read more »

UPDATE: NZ dollar tumbles after Yellen firms on rate rise

Article – BusinessDesk

UPDATE: NZ dollar tumbles after Fed’s Yellen indicates rate hikes are coming

By Paul McBeth

Dec. 18 (BusinessDesk) – The New Zealand dollar tumbled about 1 US cent after US Federal Reserve chair Janet Yellen indicated higher US interest rates are coming, and was more upbeat about the state of the world’s biggest economy. Read more »

UPDATE: Callaghan suspends R&D grant for 1st time, calls SFO

Article – BusinessDesk

UPDATE: Callaghan suspends R&D grant for first time, SFO informed

By Fiona Rotherham

Dec. 17 (BusinessDesk) – Callaghan Innovation has suspended a research and development growth grant to Trends Publishing International Ltd, the first time it’s done so, following an audit of its funding claims and referred the matter to the Serious Fraud Office. Read more »

PGC to continue share buybacks; Torchlight audit still going

Article – BusinessDesk

PGC to continue share buybacks; Torchlight audit still going

By Paul McBeth

Dec. 17 (BusinessDesk) – Pyne Gould Corp, which is controlled by managing director George Kerr, will keep on buying back shares as it looks to narrow the shortfall from its net tangible asset value, and said it expects the audit of its Torchlight investment should be done before it releases its first-half earnings. Read more »

ComCom charges Hawkins’ finance companies over debt recovery

Article – BusinessDesk

ComCom charges Allan Hawkins’ finance companies over debt recovery

By Paul McBeth

Dec. 17 (BusinessDesk) – The Commerce Commission has filed criminal proceedings against two finance companies run by former 1980s high-flyer Allan Hawkins over their debt recovery practices. Read more »

Wynyard warns FY revenue may miss forecast as contracts lag

Article – BusinessDesk

Wynyard warns revenue may miss annual forecast as contracts lag, shares fall

By Suze Metherell

Dec. 17 (BusinessDesk) – Wynyard Group, the security software firm, warned annual revenue may come in lower than its forecast $29 million as negotiations with some of its larger customers lag. The shares fell. Read more »

Scales affirms 2015 earnings guidance for $20.8 mln profit

Article – BusinessDesk

Scales affirms 2015 earnings guidance for $20.8 mln profit

By Paul McBeth

Dec. 17 (BusinessDesk) – Scales Corp, the fruit and vegetables logistics company, affirmed its earnings guidance for 2015 with growth tipped across all of its units. Read more »

Intueri buys out 50% stake in Online Courses Australia

Article – BusinessDesk

Intueri buys out 50% stake in Online Courses Australia

By Suze Metherell

Dec. 17 (BusinessDesk) – Intueri Education Group, New Zealand’s largest private training college, will buy the remaining half of Online Courses Australia Group that it doesn’t own for an initial payment of $14 million and the remainder based on next year’s earnings. Read more »

Postie to launch new brands, taps new owner’s supply chain

Article – BusinessDesk

Postie to launch new brands, tapping South African owner’s supply chain

By Suze Metherell

Dec. 17 (BusinessDesk) – Postie, the retail chain bought out of administration by South African retailer Pepkor, is betting on its new owner’s economies of scale to boost sales in a “challenging” retail environment. Read more »

NZ dollar gains in ‘volatile night’ on global forex markets

Article – BusinessDesk

NZ dollar gains as Russian rate hike, upbeat European data sap greenback

By Paul McBeth

Dec. 17 (BusinessDesk) – The New Zealand dollar gained in volatile markets after Russian policymakers hiked interest rates to shore up a tumbling ruble and European data beat expectations, sapping demand for the US dollar ahead of the Christmas and New Year holiday period. Read more »

NZ dollar little changed ahead of Fonterra milk auction

Article – BusinessDesk

NZ dollar little changed ahead of Fonterra milk auction

By Paul McBeth

Dec. 16 (BusinessDesk) – The New Zealand dollar was little changed ahead of the next GlobalDairyTrade auction, the first since dairy exporter Fonterra Cooperative Group slashed its forecast payout for the current season in the face of falling milk prices. Read more »

Vodafone NZ appoints expat Mark Aue as new CFO

Article – BusinessDesk

Vodafone NZ appoints expat Mark Aue as new CFO after de la Feunte returns to Spain

By Paul McBeth

Dec. 16 (BusinessDesk) – Vodafone New Zealand, the country’s biggest mobile phone operator, has appointed expatriate Mark Aue as its new chief financial officer, replacing Adolfo de la Fuente who is returning to Spanish arm of the global telecommunications group. Read more »

Goodman sells Enterprise Park in Wiri for $53.2 million

Article – BusinessDesk

Goodman sells Enterprise Park in Wiri for $53.2 million

By Suze Metherell

Dec. 16 (BusinessDesk) – Goodman Property Trust, New Zealand’s largest listed property investor by market value, has sold Enterprise Park in Wiri for $53.2 million to an undisclosed buyer. Read more »

MRP to quit Chilean, German geothermal investments

Article – BusinessDesk

MRP to quit Chilean, German geothermal investments

Dec. 16 (BusinessDesk) – MightyRiverPower, the first of the state-owned power companies to be partially privatised last year, will quit its geothermal investments in Chile and Germany, while sticking with its interests in the US. Read more »

Tower talks down impact of Supreme Court valuation ruling

Article – BusinessDesk

Tower talks down impact of Supreme Court valuation ruling

By Paul McBeth

Dec. 16 (BusinessDesk) – Tower, the insurer which sold its health, life, and investment units to focus on general insurance, has talked down yesterday’s Supreme Court ruling on how to value the replacement costs of a house, saying it doesn’t expect a material impact on the firm’s future settlement payments. Read more »

Failed airline entrepreneur Ewan Wilson targets regions

Article – BusinessDesk

Failed airline entrepreneur, Ewan Wilson, targets regional routes

By Pattrick Smellie

Dec. 15 (BusinessDesk) – Ewan Wilson, the founder of failed mid-1990s Kiwi Travel International Airlines, is eyeing up investors to take on at least some of the regional air routes being abandoned by Air New Zealand, with the principals of imported used car dealers 2 Cheap Cars the first to put up their hands. Read more »

Port of Napier FY profit rises 14% to record on more cargo

Article – BusinessDesk

Port of Napier FY profit rises 14% to record as more cargo crosses wharves

By Jonathan Underhill

Dec. 15 (BusinessDesk) – Port of Napier posted a 14 percent gain in annual profit to a record after increasing container and bulk cargo volumes, allowing New Zealand’s fourth-largest container port to increase dividends to its Hawke’s Bay Regional Council owner. Read more »

KIP unitholders overwhelmingly approve corporatisation

Article – BusinessDesk

Kiwi Income unitholders overwhelmingly approve corporatisation

By Jonathan Underhill

Dec. 15 (BusinessDesk) – Kiwi Income Property Trust unitholders have overwhelmingly voted in favour of corporatisation, completing a year-long transformation that saw the property trust taking management in house by buying out Commonwealth Bank of Australia. Read more »

Holcim, NZ Steel sell lime business to Canada’s Graymont

Article – BusinessDesk

Holcim, NZ Steel sell lime business to Canada’s Graymont

By Suze Metherell

Dec. 15 (BusinessDesk) – Graymont, the Canadian lime business, has agreed to buy McDonalds Lime from Holcim New Zealand, which plans to close its Westport cement plant in 2016, and Bluescope Steel-owned New Zealand Steel for an undisclosed sum. Read more »

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