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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 551]
CBL first-half profit falls 19%
Friday, 26 August 2016, 10:02 am | BusinessDesk
Aug. 26 (BusinessDesk) - CBL Corp posted an 18 percent fall in first-half profit as losses on foreign exchange movements offset improved earnings and growth in the credit surety and financial risk insurer's gross written premiums. More >>
Air NZ rides the tourism boom with record full-year earnings
Friday, 26 August 2016, 10:01 am | BusinessDesk
Aug. 26 (BusinessDesk) - Air New Zealand has ridden the tourism boom and staved off increased competition to deliver the best full-year earnings in its 76-year history. More >>
Vista first-half profit more than doubles
Friday, 26 August 2016, 9:34 am | BusinessDesk
Aug. 26 (BusinessDesk) - Vista Group International more than doubled first-half profit as the cinema software developer's series of recent acquisitions bolstered revenue. More >>
FIRST CUT: Air NZ delivers bumper pre-tax profit for 2016
Friday, 26 August 2016, 9:31 am | BusinessDesk
FIRST CUT: Air NZ delivers bumper pre-tax profit for 2016 FY of $663 mln More >>
FIRST CUT: Sky TV FY earnings down 15%
Friday, 26 August 2016, 9:30 am | BusinessDesk
FIRST CUT: Sky TV FY earnings down 15%, citing merger costs and content 'arms race' More >>
Living Cell Technologies considers 'medical tourism'
Friday, 26 August 2016, 9:23 am | BusinessDesk
Aug. 26 (BusinessDesk) - Australasian biotech company Living Cell Technologies plans to treat patients for Parkinson’s disease under a “medical tourism” model if its clinical trial under way in Auckland succeeds next year. More >>
NZ dollar slips as markets await Yellen
Friday, 26 August 2016, 9:16 am | BusinessDesk
Aug. 26 (BusinessDesk) - The New Zealand dollar fell as financial markets await a speech from Federal Reserve chair Janet Yellen tonight that may give a clearer view of US monetary policy and therefore the direction of the US dollar. More >>
While you were sleeping: More hawkish talk
Friday, 26 August 2016, 6:59 am | BusinessDesk
Aug. 26 (BusinessDesk) - Wall Street moved lower as two more Federal Reserve officials signalled they believe the central bank should raise interest rates a day before a widely-anticipated speech by Fed Chair Janet Yellen in Jackson Hole, Wyoming. More >>
NZ dollar gains as Fonterra hikes forecast farmgate payout
Thursday, 25 August 2016, 5:23 pm | BusinessDesk
Aug. 25 (BusinessDesk) - The New Zealand dollar gained after Fonterra Cooperative Group hiked its forecast payout to farmers for the current season as recent dairy auctions delivered bigger-than-expected price increases. More >>
Metlifecare stake not a long-term hold for Infratil
Thursday, 25 August 2016, 3:54 pm | BusinessDesk
Aug. 25 (BusinessDesk) - Infratil chief executive Marko Bogoievski is happy with the 80 percent gain the value of the infrastructure investor's stake in retirement village operator Metlifecare, but doesn't expect the minority interest will be a ... More >>
Crown alleges Ngatata Love set up $3M in secret payments
Thursday, 25 August 2016, 2:37 pm | BusinessDesk
Crown alleges Ngatata Love set up $3M in secret payments to buy house for himself and partner More >>
UPDATE: Methven books $2.7M after cancelling earn-out
Thursday, 25 August 2016, 1:22 pm | BusinessDesk
Aug. 25 (BusinessDesk) - Listed shower and tapware maker Methven booked a $2.7 million gain in its full-year net profit adjustments after cancelling an earnout agreement with the owner of the Chinese manufacturing facility it bought in 2014. More >>
NZ insolvency practitioners face new licensing regime
Thursday, 25 August 2016, 1:09 pm | BusinessDesk
Aug. 25 (BusinessDesk) - New Zealand's insolvency practitioners look likely to face a new licensing regime after a report to Commerce Minister Paul Goldsmith found that gaps in existing rules enable dishonesty and incompetence. More >>
Countdown FY earnings slip 3.7% on record revenue
Thursday, 25 August 2016, 12:36 pm | BusinessDesk
Aug. 25 (BusinessDesk) - The Countdown supermarket chain posted a 3.7 percent drop in annual earnings due to a combination of food price deflation, competitive pressures and increased team-based performance payments as part of a customer service improvement ... More >>
Sheep milk industry gets $12.6M Crown funding
Thursday, 25 August 2016, 12:18 pm | BusinessDesk
Aug. 25 (BusinessDesk) - The fledgling sheep milk industry has been given a $12.6 million boost with government funding for a Primary Growth Partnership project with Spring Sheep Milk Co. More >>
Ebos posts 20% gain in full-year profit as sales top $7 bln
Thursday, 25 August 2016, 12:07 pm | BusinessDesk
Aug. 25 (BusinessDesk) - Ebos Group posted a 20 percent gain in full-year profit and lifted its dividends as revenue topped $7 billion for the first time, saying it expects further earnings growth in the current year. More >>
Methven continues annual revenue and profit growth
Thursday, 25 August 2016, 10:11 am | BusinessDesk
Aug. 25 (BusinessDesk) - Methven, the shower and tapware designer, has reported a 31 percent increase in full-year net profit to $7.7 million with strong sales in New Zealand and Australia, continuing a turnaround in its performance that started ... More >>
SLI Systems curbs FY loss
Thursday, 25 August 2016, 10:10 am | BusinessDesk
Aug. 25 (BusinessDesk) - E-commerce software seller SLI Systems narrowed its annual loss, reflecting cost containment during a restructuring following the loss of three major customers. More >>
Hellaby Holdings annual profit falls 30%
Thursday, 25 August 2016, 10:08 am | BusinessDesk
Aug. 25 (BusinessDesk) - Hellaby Holdings, the diversified investment group, posted a 30 percent fall as restructuring under new chief executive Alan Clarke continues. More >>
Scales lifts first-half profit 3% on record Mr Apple crop
Thursday, 25 August 2016, 10:07 am | BusinessDesk
Aug. 25 (BusinessDesk) - Scales Corp lifted first-half profit 3 percent and raised guidance for annual earnings as its Mr Apple unit delivered a record crop and met its 2020 export volume target four years early. More >>
