Archive for the 'Article' Category

Wellington Drive Downgrades 2017 Guidance on Weaker Q3

Press Release – BusinessDesk

Wellington Drive Downgrades 2017 Guidance on Weaker Q3, Maintains 2018 Profit Forecast
Nov. 17 (BusinessDesk) – Wellington Drive Technologies, which makes energy efficient motors for commercial refrigerators, widened its loss in the third quarter and downgraded its 2017 earnings guidance on slower customer demand, though it’s still forecasting its first net profit for the 2018 financial year. Read more »

Soul Machines partners with Autodesk

Article – BusinessDesk

Soul Machines partners with Autodesk to create digital employee, 8 other projects on the go

By Rebecca Howard

Nov. 16 (BusinessDesk) – Soul Machines, the Auckland-based developer of intelligent, emotionally responsive avatars, has joined forces with 3D design, engineering and entertainment software developer Autodesk to create the US company’s first digital employee. Read more »

UPDATE: Pushpay plans for US listing, capital raising

Article – BusinessDesk

UPDATE: Pushpay plans for US listing, capital raising but commits to NZX

(Updates with detail of US stock exchange plans in paras 1 and 4, updates share price) Read more »

UPDATE: Pushpay plans for US listing

Article – BusinessDesk

UPDATE: Pushpay plans for US listing, capital raising but commits to NZX
By Sophie Boot

Nov. 16 (BusinessDesk) – Pushpay Holdings, the mobile payments app company, says it’s planning on a Nasdaq listing and likely a capital raising within the next 15 months, but that won’t mean de-listing from the NZX or ASX. Read more »

Pushpay widens 1H loss, but on track for breakeven

Article – BusinessDesk

Pushpay widens 1H loss, but on track for breakeven, US listing

By Sophie Boot

Nov. 16 (BusinessDesk) – Pushpay Holdings, the mobile payments app company, widened its net loss in the first half despite lifting revenue but reiterated its guidance for the year ahead. Read more »

Rakon turns to 1H profit

Article – BusinessDesk

Rakon turns to 1H profit; reiterates full-year profit forecast

By Tina Morrison

Nov. 16 (BusinessDesk) – Rakon turned to a first-half profit from a loss a year earlier, citing growth across the technology company’s key markets, improved margins and lower costs. Read more »

Sanford posts 8% gain in full-year profit

Article – BusinessDesk

Sanford posts 8% gain in full-year profit on year-earlier vessel impairment; sales rise 3.1%

By Jonathan Underhill

Nov. 15 (BusinessDesk) – Sanford, New Zealand’s largest listed seafood company, reported an 8 percent gain in full-year profit although the increase reflected a year-earlier impairment tied to a discontinued business and underlying earnings were relatively flat. Read more »

NZ dollar rises against Aussie after tepid wage data

Article – BusinessDesk

NZ dollar rises against Aussie after tepid wage data across Tasman

By Rebecca Howard

Nov. 15 (BusinessDesk) – The New Zealand dollar rose against the Aussie dollar after Australian wages accelerated by less than expected in the third quarter, despite a lift in the minimum wage. Read more »

Living Cell Technologies to hold board strategy meeting

Article – BusinessDesk

Living Cell Technologies to hold board strategy meeting in December

By Rebecca Howard

Nov. 15 (BusinessDesk) – Living Cell Technologies will continue to evaluate data from its recent clinical trial before holding a board strategy meeting in December, chief executive Ken Taylor told shareholders at the annual general meeting. Read more »

Infratil somewhat bruised by dealings with regulators

Article – BusinessDesk

Infratil somewhat bruised by dealings with regulators, seeks details of govt’s infrastructure plans

By Jonathan Underhill Read more »

UPDATE: Mainfreight shares fall to 4-month low

Article – BusinessDesk

UPDATE: Mainfreight shares fall to 4-month low on first-half results, still seen ‘fully priced’

(Updates shares, adds analyst comment) Read more »

Tower seeks to leave rivals in the dust

Article – BusinessDesk

Tower seeks to leave rivals in the dust with tailored digital insurance model

By Paul McBeth

Nov. 15 (BusinessDesk) – Tower says it aims to leave its larger rivals with ‘clunky legacy systems’ in its wake by transforming into a “digital challenger” offering customers more tailored products that draw on deeper pools of information. Read more »

NZ house sale slump eases in October, drop in turnover slows

Article – BusinessDesk

NZ house sale slump eases in October as drop in turnover slows

By Rebecca Howard

Nov. 15 (BusinessDesk) – New Zealand’s housing market perked up last month as sales volumes fell at a slower pace, having slumped in the lead-up to the September general election. Read more »

NZ financial risks have stabilised – S&P

Article – BusinessDesk

NZ financial risks have stabilised as rapid house price growth slows, S&P says

By Tina Morrison

Nov. 15 (BusinessDesk) – The risks facing New Zealand’s financial system have stabilised as house price inflation and credit growth slow due to tighter macroprudential tools implemented by the Reserve Bank and higher lending rates, Standard & Poor’s says. Read more »

Mainfreight disappointed with mixed results

Article – BusinessDesk

Mainfreight disappointed with mixed results as first-half profit rises 1.1%

By Jonathan Underhill

Nov. 15 (BusinessDesk) – Mainfreight, the transport and logistics group, posted a 1.1 percent gain in first-half profit as strong trading in Australia and improving results in Europe were offset by weaker results in the Americas and Asia. The company said it had expected a better first-half result. Read more »

Abano says first-half profit may fall

Article – BusinessDesk

Abano says first-half profit may fall as dental acquisitions take longer to settle

By Paul McBeth

Nov. 15 (BusinessDesk) – Abano Healthcare Group says first-half profit may fall because recent dental clinic acquisitions across the Tasman won’t deliver immediate gains and the relocation of its biggest Lumino practice attracted some costs. Read more »

NZ dollar falls vs euro, nearing two-year low

Article – BusinessDesk

NZ dollar falls vs euro, nearing two-year low, on signs of reviving European growth

By Jonathan Underhill

Nov. 15 (BusinessDesk) – The New Zealand dollar fell versus the euro, closing in on the two-year low it reached last month, after stronger-than-expected growth in Germany, the regional bloc’s biggest economy, drove up its currency. Read more »

Geneva Finance lifts 1H profit, buys debt collector

Article – BusinessDesk

Geneva Finance lifts 1H profit, buys debt collection operation

By Sophie Boot

Nov. 14 (BusinessDesk) – NZAX-listed Geneva Finance lifted first-half profit 34 percent and declared its first interim dividend. Read more »

LPF lays judicial complaint against chief justice

Article – BusinessDesk

Litigation funder LPF lays judicial complaint against chief justice

By Sophie Boot

Nov. 14 (BusinessDesk) – Litigation funder LPF Group has laid an official complaint about chief justice Sian Elias to the Judicial Complaints Commissioner, over what it says were “unfair and unjustified opinions” in a ruling on a case it funded. Read more »

Plexure Group narrows its 1H net loss on higher revenue

Article – BusinessDesk

Plexure Group narrows its 1H net loss on higher revenue, lower costs
By Rebecca Howard

Nov. 14 (BusinessDesk) – Plexure Group, the mobile voucher firm formerly called VMob, reported a narrower net loss in the first half as it lifted revenue and continued to streamline the business. The result was ahead of guidance. Read more »

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