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BusinessDesk - Latest News [Page 1410]

Northland Port’s 1H profit rises 51% on log volumes

Friday, 24 February 2012, 4:33 pm | BusinessDesk

Feb. 24 (BusinessDesk) – Northland Port Corp., which owns a half stake in the region’s Marsden Point operator Northport, posted a 51 percent gain in first-half profit as the wharves bulged with logs bound for export markets. More >>

Fletcher Building taps Japanese institutions for $150mln

Friday, 24 February 2012, 4:03 pm | BusinessDesk

Feb.l 24 (BusinessDesk) – Fletcher Building has used its new Australian Medium Term Note Programme to secure approximately $150 million of long term debt from the Japanese institutional investment market. More >>

No jail time for Lombard directors

Friday, 24 February 2012, 2:39 pm | BusinessDesk

Feb. 24 (BusinessDesk) – The four Lombard Finance directors’ offences are “a material step away from the seriousness required for a custodial sentence,” Judge Robert Dobson says in his judgment, released in the Wellington High Court this morning. More >>

h3>MIDDAY UPDATE: Lombard directors guilty of untrue statem

Friday, 24 February 2012, 12:03 pm | BusinessDesk

MIDDAY UPDATE: Lombard directors guilty of untrue statements Feb. 24 (BusinessDesk) – Four directors of the failed finance company, Lombard, have been found guilty on four out of five charges against them of making untrue statements in investment ... More >>

Humiliation for former Justice Ministers in Lombard judgment

Friday, 24 February 2012, 11:58 am | BusinessDesk

Feb. 24 (BusinessDesk) – Two former Ministers of Justice, Doug Graham and Bill Jeffries, face the prospect of prison terms, fines of up to $300,000, or community sentences after being found guilty on four of five charges relating to their role ... More >>

Turners beats FY guidance; profit up 22% on sales, customers

Friday, 24 February 2012, 11:51 am | BusinessDesk

Feb. 24 (BusinessDesk) - Turners Auctions, the vehicle auctioneer, posted a 22 percent increase in full-year profit, beating its guidance on strong sales and increased market share. More >>

Wet Christmas dampens NZ Experience’s Rainbow’s End result

Friday, 24 February 2012, 11:38 am | BusinessDesk

Feb. 24 (BusinessDesk) – Rainbow’s End theme park operator New Zealand Experience, delivered a disappointing first-half result, reporting tax-paid profit of $740,000 in the six months to Dec. 31 after wet, windy Christmas season weather hit attendance ... More >>

Nuplex 1H profit drops 23% on Australasian weakness

Friday, 24 February 2012, 11:35 am | BusinessDesk

Feb. 24 (BusinessDesk) – Nuplex Industries posted a 23 percent decline in first-half profit, largely reflecting weaker resin sales in Australia and New Zealand and a rising kiwi dollar. The specialty chemicals maker kept its full-year guidance unchanged. More >>

Air NZ shares fall 4% on weak first-half result

Friday, 24 February 2012, 11:12 am | BusinessDesk

Feb. 24 (BusinessDesk) – Shares of Air New Zealand, the state-owned carrier, fell to a five week low after high fuel costs and a fall in international passenger numbers sapped earnings, leading to a 61 percent drop in first half profit. More >>

Guinness Peat realised 165m pounds on asset sales to Feb. 17

Friday, 24 February 2012, 10:58 am | BusinessDesk

Feb. 24 (BusinessDesk) – Guinness Peat Group, which is in wind-up mode, realised a net 165 million British pounds from complete or partial sales of 48 investments between Jan. 1 last year and Feb. 17 this year, chairman Rob Campbell said. More >>

Ex-Chorus Telecom touts $300M buyback; profit growth stalls

Friday, 24 February 2012, 10:10 am | BusinessDesk

Feb. 22 (BusinessDesk) – Telecom New Zealand has announced its first results since last November’s demerger from Chorus, its former infrastructure arm, giving a glimpse of the future and seeking to return up to $300 million to investors through share ... More >>

Air NZ job cuts loom as fuel costs, weak demand sap profit

Friday, 24 February 2012, 10:00 am | BusinessDesk

Air NZ 1H profit falls 61% on fuel costs, weak international demand; job cuts loom More >>

NZ Post 1H profit doubles on Kiwibank sales as mail drops

Friday, 24 February 2012, 9:52 am | BusinessDesk

Feb. 24 (BusinessDesk) – New Zealand Post, the state-owned postal service, reported first-half profit more than doubled on the contribution from its Kiwibank unit while mail volumes fell. More >>

Delegat's posts record 1H profit before non-cash writedowns

Friday, 24 February 2012, 9:43 am | BusinessDesk

Feb. 24 (BusinessDesk) - Winemaker Delegat's Group's first-half net profit fell 8 percent on non-cash writedowns while cost cutting and a lower interest bill pushed operating net profit to a record despite sales falling 10 percent. More >>

NZ dollar gains on better-than-expected US data

Friday, 24 February 2012, 8:43 am | BusinessDesk

By Hannah Lynch Feb. 24 (BusinessDesk) – The New Zealand dollar rose against the greenback as US jobless claims and housing data beat estimates, stoking optimism for global growth and demand for high-yielding currencies. More >>

While you were sleeping: Support from US jobs data

Friday, 24 February 2012, 7:39 am | BusinessDesk

Feb. 24 (BusinessDesk) - Wall Street advanced as investors chose to focus on the good news—the number of Americans filing for unemployment benefits held at the lowest level in four years, underpinning hopes that the consumer will help sustain ... More >>

MARKET CLOSE: NZ shares mixed; Port of Tauranga gains

Thursday, 23 February 2012, 5:57 pm | BusinessDesk

Feb. 23 (BusinessDesk) - New Zealand shares were mixed, with as many gaining stocks as decliners on the NZX 50 Index. Port of Tauranga rose after posting record first-half earnings while Fletcher Building extended its decline after profit missed its guidance. More >>