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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 451]
CentrePort posts $35.7 million 1H loss after earthquake
Wednesday, 1 March 2017, 5:06 pm | BusinessDesk
March 1 (BusinessDesk) - CentrePort, the Wellington port operator, reported a loss in the first half of its financial year due to damage from November's Kaikoura earthquake, which it described as the biggest adverse event in its history. More >>
Pyne Gould back in black
Wednesday, 1 March 2017, 4:19 pm | BusinessDesk
March 1 (BusinessDesk) - Pyne Gould Corp, the financial services firm controlled by managing director George Kerr, returned to profit in the first-half as its Queenstown property development came to market in the tail-end of 2016. More >>
Foley Family Wines turns to first-half loss on quake costs
Wednesday, 1 March 2017, 4:12 pm | BusinessDesk
March 1 (BusinessDesk) - Foley Family Wines, whose brands include Vavasour and Martinborough Vineyard, turned to a loss in its first half as it battled falling wine sales and the aftermath of last year's Kaikoura earthquake. More >>
Apple NZ reports lower FY profit, defers taxes
Wednesday, 1 March 2017, 4:10 pm | BusinessDesk
March 1 (BusinessDesk) - Apple Sales New Zealand, the local unit of the iPhone and iPad maker, reported a lower annual profit on a higher cost of sales, despite spending less buying inventory from related companies. More >>
TeamTalk lifts 1H profit 18%
Wednesday, 1 March 2017, 2:55 pm | BusinessDesk
March 1 (BusinessDesk) - Network provider TeamTalk, which is under a $22.7 million hostile takeover offer from Spark NZ, lifted first-half profit 18 percent, forecast annual profit and will consider resuming dividends next year. More >>
NZ terms of trade rise 5.7% in fourth quarter
Wednesday, 1 March 2017, 2:52 pm | BusinessDesk
March 1 (BusinessDesk) - New Zealand's terms of trade rose in the final three months of 2016 as the recovery in global dairy prices bolstered the value of exports even as the volume of international sales shrank. More >>
SeaDragon expects wider FY loss
Wednesday, 1 March 2017, 2:49 pm | BusinessDesk
March 1 (BusinessDesk) - SeaDragon, which manufactures fish oils for health supplements, expects to report a wider loss in the year ending March 31 due to the length of time to transition from its legacy Omega-2 business to Omega-3 fish oil produced by its ... More >>
CBL sees annual earnings growth of up to 22% in 2017
Wednesday, 1 March 2017, 2:15 pm | BusinessDesk
March 1 (BusinessDesk) - CBL Corp expects to see annual earnings growth of up to 22 percent in calendar 2017, providing detailed guidance less than a week after reporting full-year profit for 2016 that missed some market expectations. More >>
Fruit marketer T&G Global reports 67% jump in 2016 profit
Wednesday, 1 March 2017, 2:14 pm | BusinessDesk
March 1 (BusinessDesk) - T&G Global, the fruit marketer controlled by Germany’s BayWa, reported a 67 percent jump in full-year profit, boosted by a solid performance from most of its business segments and the sale of its crate business. More >>
Fisher Funds hires former Cooperative Bank boss
Wednesday, 1 March 2017, 1:02 pm | BusinessDesk
March 1 (BusinessDesk) - Former Cooperative Bank head Bruce McLachlan will take over the reins at Fisher Funds Management in April replacing the face of the country's fifth-biggest fund manager, Carmel Fisher. More >>
Methven posts 32% drop in 1H profit
Wednesday, 1 March 2017, 12:59 pm | BusinessDesk
March 1 (BusinessDesk) - Methven, the shower and tapware designer, posted a 32 percent drop in first-half profit after a major supplier in its biggest market Australia shut down, but says it's on track for a stronger second half. More >>
NZ property values continue march higher in February
Wednesday, 1 March 2017, 12:50 pm | BusinessDesk
March 1 (BusinessDesk) - New Zealand property values continued to rise at an unchanged annual pace in February as buyers sought out new areas of growth with some of the usual suspects cooling off in the month. More >>
While you were sleeping: Target sinks, eyes on Trump
Wednesday, 1 March 2017, 12:42 pm | BusinessDesk
March 1 (BusinessDesk) - Wall Street weakened from record highs as investors focused on US President Donald Trump’s address to Congress later in the day to assess if bets on his broad policy promises are justified. More >>
Sky TV, Vodafone still open to pursuing merger
Wednesday, 1 March 2017, 12:40 pm | BusinessDesk
March 1 (BusinessDesk) - Sky Network Television and Vodafone New Zealand haven't given up hope for a merger despite being rebuffed by the Commerce Commission last week over competition concerns. More >>
King Salmon posts 52% gain in first-half profit
Wednesday, 1 March 2017, 12:38 pm | BusinessDesk
March 1 (BusinessDesk) - New Zealand King Salmon, which listed last October after raising $70 million selling shares, posted a 52 percent gain in first-half profit and said it was on track to meet its prospectus target for the full year. More >>
NZOG narrows first-half loss in lead-up to $168m Kupe sale
Wednesday, 1 March 2017, 12:37 pm | BusinessDesk
March 1 (BusinessDesk) - New Zealand Oil & Gas narrowed its loss in the final six months of 2016, just before the $168 million sale of its stake in the Kupe oil and gas fields, cutting almost a third of its operating costs, and halving exploration ... More >>
Fonterra names Paravicini COO Global Consumer, Food Service
Wednesday, 1 March 2017, 12:34 pm | BusinessDesk
March 1 (BusinessDesk) - Dairy giant Fonterra Cooperative Group has appointed Lukas Paravicini chief operating officer, global consumer and food service, effective June 1. More >>
NZ dollar gains after US GDP, trade data
Wednesday, 1 March 2017, 11:52 am | BusinessDesk
March 1 (BusinessDesk) - The New Zealand dollar rose against the greenback after the second reading of US fourth-quarter gross domestic product wasn't revised up as expected while the initial measure of US trade showed a bigger-than -expected ... More >>
Genesis Energy lifts retail margins
Wednesday, 1 March 2017, 3:55 am | BusinessDesk
Feb. 28 (BusinessDesk) - Genesis Energy fattened margins from its retail business as part of a broader strategy to create deeper, more valuable customer relationships. More >>
Minter Ellison invests $2M in artificial intelligence
Wednesday, 1 March 2017, 3:43 am | BusinessDesk
Feb. 28 (BusinessDesk) - Law firm MinterEllisonRuddWatts has invested $2 million in a joint venture exploring the potential use of artificial intelligence (AI) for legal services. More >>
