Archive for the 'Article' Category

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 »

Precinct annual profit rises 9.4% on stronger Auckland

Article – BusinessDesk

Precinct Properties annual profit rises 9.4% as Auckland rentals strengthen

By Suze Metherell

Aug. 13 (BusinessDesk) – Precinct Properties New Zealand, formerly known as AMP NZ Office, said annual earnings rose 9.4 percent as its Auckland rentals continued to strengthen and Wellington occupancy remained static. Read more »

Sky City posts 23% drop in full-year profit

Article – BusinessDesk

Sky City posts 23% drop in full-year profit, adds hotel to convention centre plan

By Jonathan Underhill

Aug. 13 (BusinessDesk) – SkyCity Entertainment Group, New Zealand’s only listed casino company, posted a 23 percent drop in full-year profit on the impact of the strong kiwi dollar and Adelaide redevelopment costs. It also added a five-star hotel to its convention centre development. Read more »

PFI boosts first-half profit 21%, reflecting merger gains

Article – BusinessDesk

Property For Industry boosts profit 21% in first-half, reflecting merger gains

By Suze Metherell

Aug. 13 (BusinessDesk) – Property For Industry, the industrial property investor, lifted first-half profit 21 percent, a year on from its merger with Direct Property Fund which increased its portfolio by two-thirds. Read more »

NZ dollar falls as Australian business confidence grows

Article – BusinessDesk

NZ dollar falls vs. greenback as upbeat Australian firms stoke demand for A$

By Paul McBeth

Aug. 12 (BusinessDesk) – The New Zealand dollar fell against the greenback as growing confidence among Australian firms stoked demand for the Australian dollar. Read more »

NZ house sales fall in July, led by cheaper properties

Article – BusinessDesk

NZ house sales fall in July, led by cheaper properties amid weaker winter demand

By Suze Metherell

Aug. 12 (BusinessDesk) – New Zealand house sales fell in July as winter cooled the appetite of house hunters while a drop in properties selling for $400,000 or below likely reflected the Reserve Bank’s moves to cool the market. Read more »

NZ guest nights slip from three-year high in June

Article – BusinessDesk

NZ guest nights slip from three-year high in June, as domestic stays drop

By Suze Metherell

Aug. 21 (BusinessDesk) – New Zealand guest nights fell 4.4 percent in June from a three-year high in May, as domestic overnight stays recorded the biggest drop off in 14 months. Read more »

Summerset first-half profit growth slows

Article – BusinessDesk

Summerset first-half profit growth slows as focus turns to investment in villages ahead of sales

By Tina Morrison Read more »

NZ dollar little changed, eschews risk aversion

Article – BusinessDesk

NZ dollar little changed as yield advantage offsets risk aversion

By Paul McBeth

Aug. 11 (BusinessDesk) – The New Zealand dollar was little changed as the currency’s relatively attractive yield helped underpin the currency in the face of heightened risk aversion among investors. Read more »

VMob adds Japan to line-up of McDonald’s clients

Article – BusinessDesk

VMob adds Japan to line-up of McDonald’s clients for voucher system

By Jonathan Underhill

Aug. 11 (BusinessDesk) – VMob Group said McDonald’s will use its mobile voucher platform for its 3,200 restaurants in Japan, adding to sales to the fast-food giant in the Netherlands and Sweden. Read more »

Key pulls back on RMA reform detente talk

Article – BusinessDesk

Key pulls back on RMA reform détente talk

By Pattrick Smellie

Aug. 11 (BusinessDesk) – Prime Minister John Key says the National Party is determined to include economic growth and infrastructure in the purpose clauses of the Resource Management Act, despite weekend reports that he is willing to seek a “less confrontational approach” to the government’s reform objectives. Read more »

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