Scoop has an Ethical Paywall
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 21]
Comvita posts $27.7m net loss on goodwill write-downs
Friday, 23 August 2019, 4:51 pm | BusinessDesk
Aug. 23 (BusinessDesk) - Honey products company Comvita posted a $27.7 million annual net loss after writing off $20.1 million of goodwill. More >>
Buyers emerge for Denton Morrell client book
Friday, 23 August 2019, 4:29 pm | BusinessDesk
Aug. 23 (BusinessDesk) - Liquidators for Denton Morrell are in talks with parties to pick up parts of the defunct firm’s client, as more information about its liquidation can be made public. More >>
WEL reviewing capital structure of fibre business
Friday, 23 August 2019, 4:04 pm | BusinessDesk
Aug. 23 (BusinessDesk) - WEL Networks is reviewing the capital structure of its Ultrafast Fibre subsidiary. More >>
Cavalier announces collaboration with NZ Merino Company
Friday, 23 August 2019, 4:01 pm | BusinessDesk
Aug. 23 (BusinessDesk) - Cavalier Corp announced a "collaboration" with the New Zealand Merino company as it looks to cash in on a growing consumer trend toward natural fibres and away from synthetics. More >>
Paymark wins bid to keep some secrets from rival
Friday, 23 August 2019, 3:11 pm | BusinessDesk
Aug. 23 (BusinessDesk) - A High Court judge has ruled against an attempt by the founder of locally owned Payment Express, Andy Cullen, to peruse confidential documents relating to its competitor, French-owned Paymark's pricing and strategy as part of a “hard-fought” ... More >>
NZ retail sales growth stalls in June
Friday, 23 August 2019, 2:56 pm | BusinessDesk
Aug. 23 (BusinessDesk) - Retail sales growth stalled in the June quarter, although rising prices helped the value of sales catch up from a lull earlier in the year. More >>
Delegat continues to invest after record year
Friday, 23 August 2019, 2:15 pm | BusinessDesk
Aug. 23 (BusinessDesk) - Delegat Group, New Zealand’s biggest listed winemaker, lifted operating net profit by 14 percent in the June 2019 year, but indicated it was unlikely to make further gains next year. More >>
Kiwibank's annual profit eases as fee income drops
Friday, 23 August 2019, 2:07 pm | BusinessDesk
Aug. 23 (BusinessDesk) - Kiwibank’s annual net profit fell $7 million, reflecting both lower fee income and one-off gains in the previous year. More >>
TIL lifts operating earnings, watching for slowdown
Friday, 23 August 2019, 1:51 pm | BusinessDesk
Aug. 23 (BusinessDesk) - TIL Logistics says it is watching business confidence and the broader economy closely after noting a slowdown in the June quarter. More >>
Vector profit slides 44% on struggling HRV writedown
Friday, 23 August 2019, 12:59 pm | BusinessDesk
Aug. 23 (BusinessDesk) - Vector reported a 44 percent slide in annual profit as the lines company wrote down the value of its HRV home ventilation unit, which has failed to fire since it was bought in 2017. More >>
Steel & Tube returns to the black
Friday, 23 August 2019, 12:46 pm | BusinessDesk
Aug. 23 (BusinessDesk) - Steel & Tube turned back into the black in financial year 2019 but says positive gains were offset by lower-than-expected gross margins due to the market contracting for some high-value categories and due to the highly competitive ... More >>
Skellerup reports record net profit powered by division
Friday, 23 August 2019, 12:45 pm | BusinessDesk
Aug. 23 (BusinessDesk) - Rubber goods maker Skellerup Holdings reported a record full-year net profit as its industrial division once again saw strong revenue growth. More >>
NZ dollar falls against pound on Brexit cheer
Friday, 23 August 2019, 11:09 am | BusinessDesk
Aug. 23 (BusinessDesk) - The New Zealand dollar fell against the British pound after markets took German Chancellor Angela Merkel literally when she said a negotiated departure for Britain from the European Union might be possible in 30 days. More >>
MARKET CLOSE: NZ shares gain on Ebos, Air NZ earnings
Thursday, 22 August 2019, 9:17 pm | BusinessDesk
Aug. 22 (BusinessDesk) - New Zealand shares rose as the domestic earnings season continued, with Ebos Group and Air New Zealand meeting investors' expectations. Spark New Zealand rose for a second day on unusually large volumes. More >>
NZ dollar falls as China's yuan depreciates
Thursday, 22 August 2019, 8:53 pm | BusinessDesk
Aug. 22 (BusinessDesk) - The New Zealand dollar fell, dragged lower by the weakening Chinese yuan which is widely viewed as China’s retaliation to US tariffs. More >>
FMA says ANZ should have reported Hisco house sale
Thursday, 22 August 2019, 8:51 pm | BusinessDesk
Aug. 22 (BusinessDesk) - The Financial Markets Authority says ANZ Bank should have treated the sale of a house in Auckland to former chief executive David Hisco’s wife as a related-party transaction in the bank’s 2017 financial statements. More >>
UPDATE: Ebos shares hit record
Thursday, 22 August 2019, 8:49 pm | BusinessDesk
Aug. 22 (BusinessDesk) - Ebos shares hit a record after it promised “a significant increase” in earnings this year following a flat result for the year ended June. More >>
ANALYSIS: Another new head for Xero's American dream
Thursday, 22 August 2019, 8:48 pm | BusinessDesk
Aug. 22 (BusinessDesk) - Xero has a fraught history of trying to suss out success in North America with what has sometimes had all the hallmarks of an executive revolving door. More >>
Jetstar losing money on regional NZ services
Thursday, 22 August 2019, 8:46 pm | BusinessDesk
Aug. 22 (BusinessDesk) - Budget carrier Jetstar is "loss-making" on its regional services in New Zealand and "market conditions are being monitored closely," parent company Qantas told investors today. More >>
A2 Milk says rising environmental costs not a 'big risk'
Thursday, 22 August 2019, 8:41 pm | BusinessDesk
Aug. 22 (BusinessDesk) - A2 Milk says the cost of meeting more stringent water, animal welfare and emissions standards is not a "big risk" to the company and it will work with partners to help the industry meet the new requirements. More >>
