Archive for the 'Article' Category

Fliway to raise up to $50 mln in first NZ IPO of the year

Article – BusinessDesk

Fliway to raise up to $50 mln in first NZ IPO of the year

By Paul McBeth

Feb. 26 (BusinessDesk) – Fliway Group, the transport and logistics group, will seek up to $50 million in New Zealand’s first initial public offering of the year, with a sale expected next month. Read more »

Tamaki Redevelopment has key role in Auckland housing

Article – BusinessDesk

NZ govt eyes Tamaki Redevelopment Co’s role in lifting affordable housing supply: English

By Paul McBeth

Feb. 26 (BusinessDesk) – The New Zealand government is looking at ways Tamaki Redevelopment Co can help boost the supply of affordable housing, which forms part of its focus on the nation’s “unbalanced” property market, Finance Minister Bill English says. Read more »

UPDATE: Fonterra Shareholders’ Council relieved at forecast

Article – BusinessDesk

UPDATE: Fonterra Shareholders’ Council relieved at dairy forecast being maintained

(Adds Fonterra Shareholders Council comments) Read more »

Veritas 1H profit falls on acquisition costs

Article – BusinessDesk

Veritas 1H profit falls on acquisition costs; FY earnings to be at low end of guidance

By Paul McBeth

Feb. 26 (BusinessDesk) – Veritas Investments, the food and beverage investor, reported a 16 percent decline in first-half profit as acquisition costs mounted during a buying spree, and warned annual earnings may be at the low end of guidance depending on how its new businesses perform. Read more »

Intueri misses annual earnings forecast on NZ performance

Article – BusinessDesk

Intueri misses annual earnings forecast on New Zealand performance

By Tina Morrison

Feb. 26 (BusinessDesk) – Intueri Education Group, New Zealand’s largest private training college, missed its annual earnings forecast as its New Zealand businesses lagged behind expectations. Read more »

UPDATE: Fonterra maintains forecast dairy payout

Article – BusinessDesk

UPDATE: Fonterra maintains forecast dairy payout

(Adds company, economist comment)

By Fiona Rotherham

Feb. 26 (BusinessDesk) – Fonterra Cooperative Group, the world’s biggest dairy exporter, maintained its forecast payout to farmer shareholders for the current season, saying recent gains in whole milk powder prices were due to reduced supply rather than increased demand. Read more »

T&G full-year profit falls 1.9% on processing, NZ losses

Article – BusinessDesk

Turners & Growers full-year profit falls 1.9% on processing, NZ trading losses

By Jonathan Underhill

Feb. 26 (BusinessDesk) – Turners & Growers, the fruit marketer controlled by Germany’s BayWa, posted a 1.9 percent drop in full-year profit as improved returns from its pipfruit business were offset by losses from processed foods and New Zealand produce trading. Read more »

Scales annual profit beats IPO forecast on apple exports

Article – BusinessDesk

Scales annual profit beats IPO forecast as apple exports drive horticulture earnings

By Paul McBeth

Feb. 26 (BusinessDesk) – Scales Corp, New Zealand’s biggest apple exporter, reported a 9.8 percent drop in annual profit, beating its offer document forecast, after better-than-expected apple volumes drove up earnings in its horticulture division. Read more »

Fonterra maintains forecast payout

Article – BusinessDesk

Fonterra maintains forecast payout, says recent gains not enough for a rise

By Paul McBeth

Feb. 26 (BusinessDesk) – Fonterra Cooperative Group, the world’s biggest dairy exporter, maintained its forecast payout to farmer shareholders for the current season, saying recent gains in whole milk powder weren’t enough to warrant an increase. Read more »

NZ bank profits climb 20% in 2014 in face of cheaper funding

Article – BusinessDesk

NZ bank profits climb 20% in 2014 in face of cheaper funding costs

By Paul McBeth

Feb. 25 (BusinessDesk) – New Zealand bank profits rose 20 percent to a record last year as low global interest rates made it easier for lenders to compete for mortgage customers in a highly competitive market. Read more »

UPDATE: Air NZ sees fare discounts; yield pressure looms

Article – BusinessDesk

UPDATE: Air New Zealand forecasts fare discounts; yield pressure looming

(Updates with analyst comment)

By Fiona Rotherham Read more »

NZ dollar gains after Yellen testimony

Article – BusinessDesk

NZ dollar gains as Yellen testimony leaves open prospect for lower rates

By Paul McBeth

Feb. 25 (BusinessDesk) – The New Zealand dollar gained after testimony by Federal Reserve chair Janet Yellen left open the prospect for low interest rates to remain in place for a few more months in the US, while better than expected Chinese manufacturing data stoked demand for the Australasian currencies. Read more »

Auckland inner-city height restrictions weighing on supply

Article – BusinessDesk

Auckland inner-city height restrictions weighing on supply, RBNZ’s Wheeler says

By Paul McBeth

Feb. 25 (BusinessDesk) – New Zealand’s government has taken a number of good steps to improve housing supply in Auckland, where prices have soared on a lack of new stock, but could take a look at height restrictions in the inner-city to address the shortfall, according to Reserve Bank governor Graeme Wheeler. Read more »

UPDATE: A2 Milk’s premium payout attracts farmer interest

Article – BusinessDesk

UPDATE: A2 Milk’s premium payout attracts farmer interest with lower dairy prices this year

(Recast with company comment) Read more »

More flight discounts ahead as Air NZ fleet expands

Article – BusinessDesk

More flight discounts ahead as Air NZ fleet expands

By Fiona Rotherham

Feb. 25 (BusinessDesk) – Kiwi travellers can expect competitive discounting on flights as Air New Zealand adds 12 percent capacity on its network in the next six months. Read more »

Airwork 1H profit beats forecast

Article – BusinessDesk

Airwork 1H profit beats forecast, raises annual earnings guidance

By Paul McBeth

Feb. 25 (BusinessDesk) – Airwork Holdings, the aviation service firm, lifted first-half profit 19 percent, beating its prospectus guidance, and has raised its annual earnings forecast after revising the residual value of its Boeing 737 aircraft. Read more »

Metlifecare expects to increase FY profit about 13%

Article – BusinessDesk

Metlifecare expects to increase FY profit about 13% as it expands in high-value areas

By Tina Morrison

Feb. 25 (BusinessDesk) – Metlifecare, New Zealand’s second-largest listed retirement village operator, signalled full-year underlying profit may rise about 13 percent as it expands in higher value markets. Read more »

Tourism Holdings beats 1H guidance on reduced fleet

Article – BusinessDesk

Tourism Holdings beats 1H guidance on reduced fleet, wider margins

By Suze Metherell

Feb. 25 (BusinessDesk) – Tourism Holdings, the largest campervan rental business in Australia and New Zealand, more than doubled first-half profit, beating expectations, after cutting costs and fattening margins. Read more »

Precinct 1H earnings rise 10%, raising $174M

Article – BusinessDesk

Precinct 1H earnings rise 10%, raising $174M

By Paul McBeth

Feb. 25 (BusinessDesk) – Precinct Properties New Zealand, which has been rebalancing its portfolio to Auckland, reported a 10 percent gain in first-half earnings on better occupancy rates at its buildings and will raise $174.1 million to fund a major development programme in the country’s biggest city. Read more »

Wynyard FY loss doubles as drive for growth pushes sales up

Article – BusinessDesk

Wynyard FY loss doubles as drive for growth pushes sales up 62%

By Paul McBeth

Feb. 25 (BusinessDesk) – Wynyard Group, the security software firm, reported a near-doubling in its annual loss as its push for large global contracts helped boost revenue 62 percent in its first full year as a listed company. Read more »

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