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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 274]
export growth in 1H suggests economy in not too bad a shape
Friday, 23 February 2018, 3:25 pm | BusinessDesk
Feb. 23 (BusinessDesk) - Port of Tauranga chief executive Mark Cairns says the 9.4 percent growth in export volumes from New Zealand's biggest port suggests the economy "is in not too bad a shape" as log and dairy shipments rise alongside an increase ... More >>
NZ quarterly retail sales rise 1.7% in 4th-qtr
Friday, 23 February 2018, 2:45 pm | BusinessDesk
Feb. 23 (BusinessDesk) - New Zealand retail sales rose in the fourth quarter, as Kiwis spent more on dining and drinking out, cars and parts, and on groceries. More >>
Kiwibank first-half profit sinks 32% as IT costs mount
Friday, 23 February 2018, 2:34 pm | BusinessDesk
Feb. 23 (BusinessDesk) - Kiwi Group Holdings, the parent of Kiwibank, Kiwi Wealth and Kiwi Insurance, posted a 32 percent slide in first-half profit as the country's fifth-biggest lender bore escalating costs of a dud IT project that's already been ... More >>
SLI Systems shares soar 80% after maiden profit
Friday, 23 February 2018, 2:07 pm | BusinessDesk
Feb. 23 (BusinessDesk) - SLI Systems stock soared 80 percent to its highest level in more than six months after the e-commerce software seller posted a maiden first-half profit as it changes strategy to a more self-service model, retained more customers, ... More >>
Comvita swings to first-half profit
Friday, 23 February 2018, 1:47 pm | BusinessDesk
Feb. 23 (BusinessDesk) - Comvita, the mānuka honey company, swung to a first-half profit on strong sales growth and a recovery in the "grey" or informal sales channel into China and reiterated its full-year earnings guidance despite bad ... More >>
NZ Post pays $2.5M interim dividend issues warning
Friday, 23 February 2018, 1:46 pm | BusinessDesk
NZ Post pays $2.5M interim dividend while warning year-end targets will be 'challenging' More >>
Summerset lifts annual earnings 44%, beating profit forecast
Friday, 23 February 2018, 12:30 pm | BusinessDesk
Feb. 23 (BusinessDesk) - Summerset Group lifted annual earnings 44 percent, ahead of its forecast, after the retirement village developer and operator built more units and improved its margins. More >>
Steel & Tube first-half profit drops 64%
Friday, 23 February 2018, 12:20 pm | BusinessDesk
Feb. 23 (BusinessDesk) - Steel & Tube posted a 64 percent decline in first-half profit as the steel products maker wrote down the value of inventory and bore the cost of restructuring the business, which it anticipates will lead to improved earnings over ... More >>
Delegat Group lifts 1H operating profit 9% to record $26.9 m
Friday, 23 February 2018, 12:07 pm | BusinessDesk
Feb. 23 (BusinessDesk) - Delegat Group, New Zealand’s largest listed winemaker, lifted operating profit 9 percent in the first half due to the favorable impact of foreign change rate changes and increased in-market pricing and the company is upbeat ... More >>
FIRST CUT: Port of Tauranga lifts FY earnings guidance
Friday, 23 February 2018, 12:00 pm | BusinessDesk
Feb. 23 (BusinessDesk) - Port of Tauranga, New Zealand's biggest port company, raised its full-year earnings guidance after posting a 13 percent gain in first-half profit that was driven by growth in cargo volumes. More >>
NZ dollar follows Wall Street, commodities higher
Friday, 23 February 2018, 11:26 am | BusinessDesk
Feb. 23 (BusinessDesk) - The New Zealand dollar gained, following stocks on Wall Street and commodity prices higher as investors bet the Federal Reserve will stick to three rate hikes this year, based on the tone of its last policy meeting minutes. More >>
While you were sleeping: Wall St, Treasuries advance
Friday, 23 February 2018, 11:01 am | BusinessDesk
Feb. 23 (BusinessDesk) - Wall Street rose as did US Treasuries, while the greenback fell, as investors reassessed their expectations for Federal Reserve interest rate increases this year, betting the central bank remains on track for three hikes instead ... More >>
MARKET CLOSE: NZ shares gain as investors take a2 above $9bn
Thursday, 22 February 2018, 8:39 pm | BusinessDesk
MARKET CLOSE: NZ shares gain as investors take a2 above $9 bln, Air NZ climbs More >>
NZ dollar loses ground against US dollar
Thursday, 22 February 2018, 8:21 pm | BusinessDesk
NZ dollar loses ground against US dollar as market decides Fed officials were more upbeat More >>
Tegel warns Gita disruptions could hit profit
Thursday, 22 February 2018, 7:30 pm | BusinessDesk
Feb. 22 (BusinessDesk) - Tegel Group, New Zealand's biggest poultry producer, said recent one-off costs could hit net profit by as much as $2 million after the water supply to one of its processing plants was cut off by ex-cyclone Gita and after an ... More >>
Steel & Tube interim CEO Mark Malpass takes top job
Thursday, 22 February 2018, 7:30 pm | BusinessDesk
Feb. 22 (BusinessDesk) - Steel & Tube interim chief executive Mark Malpass has been appointed to the top permanently, a day before the steel products maker reports first-half earnings. More >>
Airlines, travel agents, rental cars ride booming NZ tourism
Thursday, 22 February 2018, 7:04 pm | BusinessDesk
Feb. 22 (BusinessDesk) - Companies exposed to New Zealand's booming tourism sector are reaping the benefits with Tourism Holdings doubling its first-half profit, Air New Zealand lifting its dividend, Qantas Airways' Jetstar unit reporting higher passenger ... More >>
A2 Milk now a $10B company, eclipsing Fonterra
Thursday, 22 February 2018, 4:36 pm | BusinessDesk
A2 Milk now a $10B company, eclipsing Fonterra as investors bet on bullish By Rebecca Howard More >>
TeamTalk, unshackled from Farmside, lifts first-half profit
Thursday, 22 February 2018, 2:45 pm | BusinessDesk
Feb. 22 (BusinessDesk) - TeamTalk lifted first-half profit 59 percent as the telecommunications group benefited from selling a controlling stake in the unprofitable rural broadband services provider Farmside. More >>
Allied Farmers first-half profit drops 71%
Thursday, 22 February 2018, 2:22 pm | BusinessDesk
Feb. 22 (BusinessDesk) - Allied Farmers posted a 71 percent drop in first-half profit and said slower livestock sales in the immediate wake of a dairy price recovery that contributed to the decline are likely to persist. More >>
