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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 363]
Qantas annual profit falls after one-off in prior year
Friday, 25 August 2017, 2:44 pm | BusinessDesk
Aug. 25 (BusinessDesk) - Australia's biggest airline Qantas Airways said its net profit fell as the benefits of lower fuel prices were offset by the reduction in net passenger revenue and after a one-off gain in the prior year. More >>
NZ King Salmon beats FY earnings forecast
Friday, 25 August 2017, 1:57 pm | BusinessDesk
Aug. 25 (BusinessDesk) - New Zealand King Salmon Investments, the world's largest aquaculture producer of king salmon, beat its forecast for annual earnings as demand for its premium product exceeded supply, underpinning values. The stock jumped to ... More >>
Fliway FY profit falls 31%
Friday, 25 August 2017, 12:46 pm | BusinessDesk
Aug. 25 (BusinessDesk) - Fliway Group's annual profit came in at the top end of guidance, sliding 31 percent, as an operational restructure in response to a major customer loss and mounting freight costs from last year's Kaikoura earthquake staunched the ... More >>
Evolve CEO Alan Wham quits after profit warning
Friday, 25 August 2017, 12:14 pm | BusinessDesk
Aug. 25 (BusinessDesk) - The chief executive of Evolve Education, the early childhood education centre operator which last week warned annual profit will fall as much as 12 percent in the current year, has resigned and will leave in September. More >>
Port of Tauranga FY profit rises 7.9% on record cargo volume
Friday, 25 August 2017, 12:07 pm | BusinessDesk
Aug. 25 (BusinessDesk) - Port of Tauranga posted a 7.9 percent gain in annual profit, driven by record volumes of cargo, and announced the next instalment of its capital return saying it expects further growth in volumes and earnings this year. More >>
NZ dollar falls back toward 72 US cts
Friday, 25 August 2017, 11:39 am | BusinessDesk
Aug. 25 (BusinessDesk) - The New Zealand dollar fell back toward 72 US cents in the absence of much market-moving news and as traders await speeches from the European Central Bank chief Mario Draghi and Federal Reserve chair Janet Yellen. More >>
While you were sleeping: Wall St slips
Friday, 25 August 2017, 8:27 am | BusinessDesk
Aug. 25 (BusinessDesk) - Wall Street eased as investors eyed fresh clues on US monetary policy amid concern about the Trump administration’s ability to move ahead with policy reforms notably corporate tax cuts. More >>
MARKET CLOSE: NZ shares down, Metro Glass and TradeMe drop
Thursday, 24 August 2017, 8:40 pm | BusinessDesk
MARKET CLOSE: NZ shares down, Metro Glass and TradeMe drop on earnings, A2 at new high More >>
NZ dollar may extend fall after breaking technical support
Thursday, 24 August 2017, 8:22 pm | BusinessDesk
Aug. 24 (BusinessDesk) - The New Zealand dollar was virtually unchanged but remained at risk of falling further after breaking through some key levels ahead of the central bankers' symposium in Jackson Hole. More >>
Zespri optimistic about 2018 season
Thursday, 24 August 2017, 7:45 pm | BusinessDesk
Aug. 24 (BusinessDesk) - Zespri, New Zealand's statutory kiwifruit exporter, is optimistic about the 2018 season after some growers saw weakness in 2017, with plans to continue global expansion. More >>
South Port annual profit slips 3%, beating guidance
Thursday, 24 August 2017, 7:40 pm | BusinessDesk
Aug. 24 (BusinessDesk) - South Port New Zealand posted a 3 percent decline in annual profit, beating guidance, as the Bluff maritime hub operator matched record freight volumes set a year earlier. More >>
Sky TV's Fellet picks up shares on market
Thursday, 24 August 2017, 6:34 pm | BusinessDesk
Aug. 24 (BusinessDesk) - Sky Network Television John Fellet lifted his small stake in the pay-TV operator yesterday after presiding over a 21 percent slump in annual profit and smaller dividend payment. More >>
F&P Healthcare lowers guidance on strong NZD
Thursday, 24 August 2017, 5:25 pm | BusinessDesk
Aug. 24 (BusinessDesk) - Fisher & Paykel Healthcare lowered full year earnings guidance due to the strong New Zealand dollar and patent litigation costs, and separately announced plans to expand manufacturing to a third country. More >>
Powerhouse weighing up returns from three investments
Thursday, 24 August 2017, 4:52 pm | BusinessDesk
Aug. 24 (BusinessDesk) - Powerhouse Ventures is weighing up an offer for a stake in one of its investments and says two other firms it backs may return cash to the ASX-listed Kiwi incubator in the near term. More >>
For Binns, critics ''don't know much about construction''
Thursday, 24 August 2017, 4:49 pm | BusinessDesk
Aug. 24 (BusinessDesk) - Critics of the Fletcher Building board of directors "don't know a lot about construction" if they think it's unusual for a building company to experience financial difficulty in a bull market, says former Fletcher senior ... More >>
Empired's NZ Intergen unit lifts FY revenue 4%
Thursday, 24 August 2017, 4:28 pm | BusinessDesk
Aug. 24 (BusinessDesk) - Australian IT services firm Empired posted a 4 percent increase in revenue from its Kiwi subsidiary, Intergen, as the New Zealand company's Cohesion content management product made headway into grabbing government customers. More >>
Coretex raises $6M in funding round led by Milford Asset
Thursday, 24 August 2017, 4:25 pm | BusinessDesk
Coretex, a fleet management software provider run by entrepreneur Selwyn Pellett, said it raised $6 million to help fund its growth in North America. More >>
Mark Binns: no interest in leading Fletcher Building
Thursday, 24 August 2017, 3:13 pm | BusinessDesk
Aug. 24 (BusinessDesk) - Retiring Meridian Energy chief executive Mark Binns definitively ruled himself out of interest in either taking over the leadership of Fletcher Building or of becoming a director of the troubled construction company. More >>
Flight Centre buys two NZ firms for A$19.5M
Thursday, 24 August 2017, 3:10 pm | BusinessDesk
Aug. 24 (BusinessDesk) - ASX-listed Flight Centre Travel Group bought two local travel firms for a combined A$19.5 million as it seeks to expand its footprint in New Zealand, making it one of the country's biggest travel management groups. More >>
NZ posts first trade surplus for July month in five years
Thursday, 24 August 2017, 2:33 pm | BusinessDesk
The country had a trade surplus of $85 million in July, which is the first surplus for the month since 2012 when a $98 million surplus was recorded, and only the 11th July surplus since 1960, Statistics New Zealand said. It compares with a deficit ... More >>
