Archive for the 'Article' Category

NZ dollar holds gains as Aust capex beats expectations

Article – BusinessDesk

NZ dollar holds gains as Aust capex beats expectations, Fonterra buoys sentiment

By Paul McBeth

Aug. 28 (BusinessDesk) – The New Zealand dollar held gains today after Australian capital expenditure figures beat expectations, adding to optimism about the local economy after Fonterra Cooperative Group affirmed its forecast payout to farmers and signed up to a deal to distribute its products into China. Read more »

Hellaby sinks into the red on footwear writedown

Article – BusinessDesk

Hellaby sinks into the red on footwear writedown, sweetens dividend

By Paul McBeth

Aug. 28 (BusinessDesk) – Hellaby Holdings, the diversified investment company, sank into the red in the latest financial year as it wrote down the value of its footwear unit in a flat retail market. Still, it sweetened its dividend as underlying earnings grow. Read more »

BCS Group leads TIN-100 manufacturing burst in 2014

Article – BusinessDesk

BCS Group leads TIN-100 manufacturing burst in 2014

By Pattrick Smellie

Aug. 28 (BusinessDesk) – Baggage handling software and systems manufacturer BCS Group is the stand-out performer in the 2014 TIN-100 annual report on high tech New Zealand companies, growing total revenues 43 percent to more than $140 million in the latest financial year and targeting annual revenues of $200 million by 2016. Read more »

Airports Association wants regulator to probe Air NZ charges

Article – BusinessDesk

Airports Association wants Commerce Commission to inspect Air NZ’s regional fares

By Suze Metherell

Aug. 28 (BusinessDesk) – The New Zealand Airports Association has called on the Commerce Commission to regulate Air New Zealand’s regional fares, where the national carrier has an effective monopoly. Read more »

Airwork annual profit climbs 52 percent, beating forecast

Article – BusinessDesk

Airwork annual profit climbs 52 percent, beating forecast

By Paul McBeth

Aug. 28 (BusinessDesk) – Airwork Holdings, the aviation services firm which listed last December, boosted annual profit 52 percent on the strength of its helicopter engineering unit, beating guidance. The shares gained. Read more »

A2 Milk to use Australian cash for global expansion

Article – BusinessDesk

A2 Milk, hit by strong kiwi, to use Australian cash for global expansion

By Jonathan Underhill

Aug. 28 (BusinessDesk) – A2 Milk Co, which markets milk with a protein variant said to have health benefits, will ramp up its expansion in the US, the UK and Asia using cash generated in its biggest market of Australia after a year in which a strong kiwi slashed the value of sales and earnings. Read more »

NZ dollar gains as Fonterra affirms milk price

Article – BusinessDesk

NZ dollar gains as Fonterra affirms milk price, announces Chinese joint venture

By Paul McBeth

Aug. 27 (BusinessDesk) – The New Zealand dollar rose after Fonterra Cooperative Group affirmed its forecast milk price payout to farmers, and unveiled a $615 million joint venture with China’s Beingmate. Read more »

Fonterra to offer at least 20% premium for Beingmate shares

Article – BusinessDesk

Fonterra to offer at least 20% premium for Beingmate shares in deal to drive Anmum sales

By Jonathan Underhill

Aug. 27 (BusinessDesk) – Fonterra Cooperative Group will offer a premium of at least 20 percent for a one-fifth stake in Beingmate Baby & Child Food as part of a $615 million investment in a partnership to drive baby food sales into China. Read more »

Smiths City shares climb after Edison says stock undervalued

Article – BusinessDesk

Smiths City shares climb 8% after Edison report says stock undervalued

By Suze Metherell

Aug. 27 (BusinessDesk) – Shares of Smiths City Group climbed 8 percent after a report by Edison Investment Research said the furnishing and appliance store’s plans to expand to the North Island hold promise, and the stock is undervalued relative to its peers. Read more »

Fonterra to buy 20% stake in China’s Beingmate

Article – BusinessDesk

Fonterra to buy 20% stake in China’s Beingmate, sell Darnum plant into JV

Aug. 27 (BusinessDesk) – Fonterra Cooperative Group plans to enter a joint venture with China’s Beingmate that will own the dairy giant’s Darnum plant in Australia and produce infant formula products for the Chinese market, for a total investment of $615 million. Read more »

UPDATE: Air NZ shares hit 2-mth high on profit, special div

Article – BusinessDesk

UPDATE: Air NZ shares hit 2-month high on profit growth, fatter dividend

(Updates with share price, broker comment, briefing comments) Read more »

Genesis beats prospectus forecast with 53% drop in FY profit

Article – BusinessDesk

Genesis Energy beats prospectus forecast with 53% drop in full-year profit

By Jonathan Underhill

Aug. 27 (BusinessDesk) – Genesis Energy, New Zealand’s largest energy retailer, posted a 53 percent drop in full-year profit, beating its prospectus forecast and affirmed it was on track to meet its targets for 2015 even in the face of heightened retail competition for electricity and gas. Read more »

Snakk Media lifts 1Q sales, mulls ASX listing

Article – BusinessDesk

Snakk Media lifts first-quarter sales, mulls ASX listing

By Suze Metherell

Aug. 27 (BusinessDesk) – Snakk Media, which matches advertisers with mobile users, said first quarter sales rose 67 percent and it continues to pursue an ASX listing. Read more »

Air NZ boosts annual profit 45%, signals special dividend

Article – BusinessDesk

Air NZ boosts annual profit 45%, signals special dividend

By Paul McBeth

Aug. 27 (BusinessDesk) – Air New Zealand, the government-controlled national carrier, boosted annual profit 45 percent as increased passenger numbers and capacity lifted earnings, and will pay a special dividend after reviewing its capital structure. Read more »

Time to rethink India’s IT reputation, delegation says

Article – BusinessDesk

Time to rethink India’s IT reputation, says visiting delegation

By Pattrick Smellie

Aug. 26 (BusinessDesk) – India’s reputation as a low-cost hub for IT “offshoring” is becoming a thing of the past and the country is emerging as an innovation Read more »

Pacific Brands to sell workware unit to Wesfarmers

Article – BusinessDesk

Pacific Brands to sell workware unit to Wesfarmers after impairments led to full-year loss

By Suze Metherell

Aug. 26 (BusinessDesk) – Pacific Brands agreed to sell its workwear unit, which owns the Hard Yakka and King Gee clothing brands, to Wesfarmers after impairments against the business resulted in a full-year loss. Read more »

CORRECT: Tourism Holdings 2014 profit jumps on fatter margin

Article – BusinessDesk

CORRECT: Tourism Holdings 2014 profit jumps on fatter margins, forecasts 35% jump in 2015

(deletes reference in penultimate paragraph to 2015 dividend) Read more »

Tourism Holdings 2014 profit jumps on fatter margins

Article – BusinessDesk

Tourism Holdings 2014 profit jumps on fatter margins, forecasts 35% jump in 2015

By Suze Metherell

Aug. 26 (BusinessDesk) – Tourism Holdings, New Zealand and Australia’s largest holiday vehicle rental business, said annual profit soared 192 percent, beating its July guidance, as profitability improves across its New Zealand, Australian and US units. Its shares jumped 8.7 percent. Read more »

Landcorp posts 133% gain in full-year operating profit

Article – BusinessDesk

Landcorp posts 133% gain in full-year operating profit as dairy sales surge

By Jonathan Underhill

Aug. 26 (BusinessDesk) – Landcorp posted a 133 percent increase in full-year operating profit as New Zealand’s biggest corporate farmer benefited from a surge in dairy prices that won’t be sustained in the current year, allowing it to lift its dividend payment by 40 percent. Read more »

Auckland Airport meets guidance with 11% gain in earnings

Article – BusinessDesk

Auckland Airport meets guidance with 11% gain in underlying earnings

By Jonathan Underhill

Aug. 26 (BusinessDesk) – Auckland International Airport, the country’s main gateway, reported an 11 percent gain in full-year underlying earnings, broadly in line with guidance it gave in the first half, as aeronautical charges led a gain in revenue that outpaced growth in expenses. Read more »

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