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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 602]
Gentrack lifts first-half profit 23% as UK sales jump
Thursday, 26 May 2016, 10:25 am | BusinessDesk
May 26 (BusinessDesk) - Gentrack Group lifted first-half profit 23 percent as sales from its UK division jumped with the signing of new customers and the software developer says annual revenue will climb at a faster pace than previously signalled. More >>
NZX toughens enquiry process
Thursday, 26 May 2016, 10:12 am | BusinessDesk
May 26 (BusinessDesk) - New Zealand's stock exchange operator, NZX, is to start making confidential enquiries of listed companies that experience large, unexplained share price movements, to determine whether they may be holding undisclosed "material" ... More >>
AWF Madison full-year earnings fall 3.7%
Thursday, 26 May 2016, 9:36 am | BusinessDesk
May 26 (BusinessDesk) - Costs associated with unwinding a joint venture in the Christchurch contract labour market contributed materially to AWF Madison reporting a "disappointing" $5.2 million profit for the year ended March 31, compared with $5.4 million a year ... More >>
Mainfreight FY profit rises 6.3%
Thursday, 26 May 2016, 9:36 am | BusinessDesk
May 26 (BusinessDesk) - Mainfreight, the transport and logistics group, reported a 6.3 percent gain in full-year profit as improved trading in New Zealand, Asia and Europe was offset by weaker results in Australia and the Americas. More >>
Metro Glass posts $20.5M maiden profit
Thursday, 26 May 2016, 9:34 am | BusinessDesk
May 26 (BusinessDesk) - Metro Performance Glass posted a maiden full-year profit as a listed company that met guidance as the country's largest glass processor benefited from increased construction activity while coping with what it called supply and ... More >>
Argosy lifts annual earnings 5%
Thursday, 26 May 2016, 9:32 am | BusinessDesk
May 26 (BusinessDesk) - Argosy Property, the country's fourth-biggest listed property investor by market value, lifted distributable earnings 5 percent as a shift in the company's portfolio helped lift rental income. More >>
Fonterra's 2017 opening forecast below expectations
Thursday, 26 May 2016, 9:31 am | BusinessDesk
May 26 (BusinessDesk) - Fonterra Cooperative Group's first forecast for the 2016/17 farmgate milk price has come in below expectations at $4.25 per kilogram of milk solids and the world's biggest dairy exporter will keep using its balance sheet to ... More >>
NZ dollar hits 3-month low vs sterling
Thursday, 26 May 2016, 9:26 am | BusinessDesk
May 26 (BusinessDesk) - The New Zealand dollar hit a three-month low against the British pound as confidence builds that the country will vote to remain in the European Union, allaying fears about the impact on the economy. More >>
NZ dollar gains on trade surplus
Wednesday, 25 May 2016, 5:37 pm | BusinessDesk
NZ dollar gains as trade surplus delivers short-term fillip, Fed rate hike timing mulled More >>
Transpower contemplates rise of storage capacity
Wednesday, 25 May 2016, 5:17 pm | BusinessDesk
May 25 (BusinessDesk) - Transpower, the national grid operator, sees a swift and game-changing transformation of the way electricity is delivered to users by 2040 when it expects to see the widespread uptake of 'extensive storage' batteries that ... More >>
ComCom files against Vodafone on 'Red Essentials'
Wednesday, 25 May 2016, 5:12 pm | BusinessDesk
The Commerce Commission has filed court proceedings against Vodafone New Zealand, claiming the country's biggest mobile phone operator misled customers on its 'Red Essentials' mobile plan in 2014 to the tune of $90,000. More >>
Woosh Wireless goes into voluntary administration
Wednesday, 25 May 2016, 4:52 pm | BusinessDesk
May 25 (BusinessDesk) - Woosh Wireless, the Auckland-based wireless broadband operator, has gone into voluntary administration. More >>
Jade Software loss widens in 2015
Wednesday, 25 May 2016, 3:01 pm | BusinessDesk
May 25 (BusinessDesk) - Jade Software, the privately-owned software developer, posted a wider loss in 2015 as a weaker global economy slowed sales in its logistics business and kept a lid on revenue. More >>
Z confident in $30mn savings from Chevron acquisition
Wednesday, 25 May 2016, 2:56 pm | BusinessDesk
May 25 (BusinessDesk) - Z Energy is confident of the savings it can make from the $785 million acquisition of Chevron New Zealand's Caltex and Challenge! petrol station chains, which it predicts will be up to $30 million. More >>
Bank of China NZ unit funds Chinese-NZ mission
Wednesday, 25 May 2016, 2:52 pm | BusinessDesk
May 25 (BusinessDesk) - Bank of China, one of the country's biggest lenders, funded 55 of its Chinese company clients to meet with 120 Kiwi agricultural businesses in a bid to grow trade and help meet its goal of becoming the largest Chinese bank in ... More >>
Former Mighty River engineer sentenced to jail for fraud
Wednesday, 25 May 2016, 12:39 pm | BusinessDesk
May 25 (BusinessDesk) - Two people have been sentenced after they committed fraud against electricity company Mighty River Power. More >>
Comvita to beef up honey supply in new joint venture
Wednesday, 25 May 2016, 12:06 pm | BusinessDesk
May 25 (BusinessDesk) - New Zealand manuka honey products maker Comvita is linking up with Blenheim-based apiary operator Putake Group to form a South Island-based honey business to meet global demand for manuka honey. More >>
NZ posts trade surplus in April as fruit drives exports
Wednesday, 25 May 2016, 11:56 am | BusinessDesk
May 25 (BusinessDesk) - New Zealand posted a bigger-than-expected trade surplus in April as increased volumes of gold kiwifruit and apples drove up shipments of fruit, the country's fourth-biggest export product. More >>
Arvida posts underlying full-year profit
Wednesday, 25 May 2016, 11:52 am | BusinessDesk
May 25 (BusinessDesk) - Arvida Group, which operates 21 retirement villages and aged care facilities, reported annual earnings ahead of its prospectus forecast and said it was confident of further gains in 2017. More >>
Economics of Tiwai Point smelter still going backwards
Wednesday, 25 May 2016, 11:23 am | BusinessDesk
May 25 (BusinessDesk) - The economics of the Tiwai Point aluminium smelter continue to slide despite last week's announcement that it will be the largest single beneficiary of proposed national grid payment reforms, says Woodward Partners energy analyst ... More >>
