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BusinessDesk
Independent, Trustworthy New Zealand Business News
The Wellington-based BusinessDesk team provides a daily news feed for a serious business audience.
BusinessDesk - Latest News [Page 1509]
Solid year for Solid Energy on high world coal prices
Friday, 26 August 2011, 10:22 am | BusinessDesk
Aug 26 (BusinessDesk) – State-owned coal miner Solid Energy lifted net profit by 29% to $87.2 million in the year to June 30, despite earthquake damage at the Lyttelton Port Co. delaying three export shipments into the new financial year. More >>
Genesis Energy full-year profit drops 27.5%
Friday, 26 August 2011, 9:44 am | BusinessDesk
Aug. 26 (BusinessDesk) – Genesis Energy Ltd., the country’s largest electricity retailer and a major generator, reported a 27.5% drop in underlying tax-paid earnings to $63.5 million in the year to June 30. More >>
Northland Port lifts profit 51% on buoyant log volumes
Friday, 26 August 2011, 9:43 am | BusinessDesk
Northland Port Corporation said annual net profit rose 51%, largely reflecting buoyant log volumes through associate company Northport. More >>
Record Coats contribution lifts GPG 1H profit
Friday, 26 August 2011, 9:40 am | BusinessDesk
Aug. 26 (BusinessDesk) – Guinness Peat Group, the investment company founded by Ron Brierley, lifted first-half earnings after its troubled Coats Plc. unit made its biggest contribution ever and the firm booked gains from asset sales. More >>
Stocks to watch: GPG, LPC, NTH, SKL, SPN, TTK, VCT, WBC
Friday, 26 August 2011, 9:39 am | BusinessDesk
Aug. 26 (BusinessDesk) – The following stocks may be active on the New Zealand exchange after developments since the close of trading. All prices are in New Zealand dollars unless specified. More >>
NZ dollar slips on Jackson Hole jitters
Friday, 26 August 2011, 8:30 am | BusinessDesk
Aug. 26 (BusinessDesk) - The New Zealand dollar fell against the greenback, as jittery investors trimmed their exposure to higher yielding, or riskier assets, ahead of the central bankers' summit at Jackson Hole. More >>
Buoyant Southport plans $6.3M of capex as Bluff booms
Thursday, 25 August 2011, 6:26 pm | BusinessDesk
Aug 25 (BusinessDesk) – The Port of Bluff operator, South Port New Zealand Ltd., will spend $6.3 million in the next financial year on new cargo-handling facilities in the largest commitment of capital spending since the company was formed in 1988. More >>
MARKET CLOSE: NZ stocks rise as earnings spur risk appetite
Thursday, 25 August 2011, 5:48 pm | BusinessDesk
MARKET CLOSE: NZ stocks rise as earnings spur risk appetite; NZ Oil & Gas rises, F&P Appliances falls More >>
Old Napier hospital goes to Todd Property in land swap
Thursday, 25 August 2011, 5:44 pm | BusinessDesk
Aug. 25 (BusinessDesk) – Todd Property Group has put the Hawkes District Health Board out of its misery as owner of the shuttered Napier hospital in a land swap deal that also relieves TPG, a large-scale property developer, of a headache on coastal ... More >>
TeamTalk boosts FY profit 25% as broadband business grows
Thursday, 25 August 2011, 5:35 pm | BusinessDesk
Aug. 25 (BusinessDesk) - TeamTalk Ltd., which owns the CityLink fibre optic network, lifted annual profit by a quarter as it boosted broadband service sales. More >>
UPDATED: Lyttelton Port posts quake year profit
Thursday, 25 August 2011, 5:30 pm | BusinessDesk
UPDATED: Lyttelton Port lifts container, coal, log volumes, posts jump in profit in quake year More >>
Lyttelton Port lifts volumes, profit in quake year
Thursday, 25 August 2011, 5:16 pm | BusinessDesk
Aug. 25 (BusinessDesk) - Lyttelton Port Co., which was forced to take a $23 million charge on earthquake damage in its first half, has reported a jump in full-year earnings and increased volumes of all the freight types that cross its wharves. More >>
IAG’s NZI, State units post 2H loss on quakes, eye ACC work
Thursday, 25 August 2011, 3:58 pm | BusinessDesk
Aug. 25 (BusinessDesk) – Insurance Australia Group Ltd.’s New Zealand division made a loss in the second half of the financial year on the mounting costs of Canterbury’s earthquakes, wiping out annual earnings. More >>
Woolworths lifts NZ supermarket earnings by 5.1%
Thursday, 25 August 2011, 2:55 pm | BusinessDesk
Aug. 25 (BusinessDesk) – Woolworths Ltd. lifted full-year earnings from its New Zealand supermarkets by 5.1% as sales rose and the Australian company continued to re-badge its outlets as Countdown stores, claiming the biggest kiwi retail brand ... More >>
F&P Appliances tanks on losses caused by rocketing $A
Thursday, 25 August 2011, 2:37 pm | BusinessDesk
Aug 25 (BusinessDesk) – The meteoric rise of the Australian dollar against the U.S. dollar is a major reason Fisher & Paykel Appliances slashed expectations for operating earnings to between $42 million and $52 million in the current financial year. More >>
Kiwibank profit halves on bad debts
Thursday, 25 August 2011, 12:39 pm | BusinessDesk
by Paul McBeth Aug. 25 (BusinessDesk) - State-owned lender Kiwibank Ltd. has posted its worst profit since 2006 when its interest income was almost a quarter of today’s levels. Kiwibank posted a net profit of $21.2 million in the 12 months ended June ... More >>
Macquarie winds down Fortress Notes
Thursday, 25 August 2011, 12:21 pm | BusinessDesk
Aug. 25 (BusinessDesk) - The trustee of the Macquarie Fortress New Zealand Notes says it's preparing to wind down the securities, having recently sold a portfolio of senior secured loans in the U.S. More >>
Ports of Auckland reports record FY container volumes
Thursday, 25 August 2011, 12:12 pm | BusinessDesk
Ports of Auckland reports record FY container volumes, 2.1% gain in profit before items More >>
Midday update: Air NZ profit drubbed by quake costs
Thursday, 25 August 2011, 11:59 am | BusinessDesk
Aug 25 (BusinessDesk) – The Canterbury Japanese earthquakes gave Air New Zealand Ltd., its hardest trading conditions in a decade, pushing tax-paid profit for the year to June 30 down 11% to $82 million, despite sales rising 7% to $4.34 billion. More >>
July food prices rise at fastest monthly pace since Jan 2010
Thursday, 25 August 2011, 11:30 am | BusinessDesk
Aug. 25 (BusinessDesk) - The price of food in New Zealand continued to rise in July with the index increasing at its fastest pace since January last year on the back of soaring fruits and vegetables prices. More >>
