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BusinessDesk - Latest News [Page 855]

Tenon delivers $2m profit in first half, divvies in 2016

Wednesday, 18 February 2015, 5:58 pm | BusinessDesk

Feb. 18 (BusinessDesk) - Tenon, whose locally produced wood mouldings are sold in the US, turned a first-half profit as an improving US housing market pushed revenue, as forecast by the company, and signalled plans to pay dividends in the 2016 financial ... More >>

MARKET CLOSE: NZ shares fall, led by Fletcher on outlook

Wednesday, 18 February 2015, 5:39 pm | BusinessDesk

Feb. 18 (BusinessDesk) - New Zealand shares fell led by Fletcher Building, after the company said full-year earnings would be at the lower end of guidance. Meridian Energy rose after posting a 26 percent increase in first-half profit. More >>

NZ dollar holds gains ahead of US Fed minutes

Wednesday, 18 February 2015, 5:03 pm | BusinessDesk

Feb. 18 (BusinessDesk) - The New Zealand dollar held gains through local trading ahead of minutes to the last Federal Open Market Committee meeting, which investors will be watching for hints on when the US central bank will look to raise interest ... More >>

Japan Post launches A$6.5 bln takeover bid for Toll Holdings

Wednesday, 18 February 2015, 4:41 pm | BusinessDesk

Feb. 18 (BusinessDesk) - Japan Post, the state-owned postal service operator, has launched a A$6.5 billion takeover bid for ASX-listed Toll Holdings, an offer the Australian logistics firm's board has unanimously recommended. More >>

Complectus continues acquisition spree with Covenant Trustee

Wednesday, 18 February 2015, 2:33 pm | BusinessDesk

Feb. 18 (BusinessDesk) - Complectus, which owns trustee firm Perpetual Guardian, has signed a heads of agreement with Covenant Trustee Services as it continues its purchasing spree of supervisor services firms that began with the acquisition of ... More >>

UPDATE: IAG's NZ unit doubles 1H profit, lifts premiums

Wednesday, 18 February 2015, 1:52 pm | BusinessDesk

(Updates with share movement in lede, share price in 10th graph, adds details of Wesfarmers acquisition in 4th graph) More >>

Fonterra may raise its payout after upbeat dairy sales

Wednesday, 18 February 2015, 1:19 pm | BusinessDesk

Feb. 18 (BusinessDesk) - Fonterra Cooperative Group may increase its forecast payout to New Zealand dairy farmers for this season after prices for whole milk powder, the nation's key export product, lifted by more than a third over the past two GlobalDairyTrade ... More >>

Meridian's Binns hopeful of keeping smelter contract

Wednesday, 18 February 2015, 1:09 pm | BusinessDesk

Feb. 18 (BusinessDesk) - Meridian Energy chief executive Mark Binns is hopeful of retaining the Tiwai Point smelter as a customer, but acknowledged there's still some uncertainty with New Zealand Aluminium Smelter's contract open to termination this ... More >>

CORRECT: Kirkcaldie flags Oct for possible capital return

Wednesday, 18 February 2015, 12:31 pm | BusinessDesk

Feb. 18 (BusinessDesk) - Kirckcaldie & Stains, the unprofitable Wellington department store, is waiting for a new chief executive and the final payment from the buyer of its Harbour City Centre before deciding whether to return the proceeds to shareholders. More >>

IAG's NZ unit doubles 1H profit after Lumley acquisition

Wednesday, 18 February 2015, 11:30 am | BusinessDesk

Feb. 18 (BusinessDesk) - Insurance Australia Group's New Zealand unit, the country's biggest general insurer, more than doubled first-half profit and lifted gross written premiums 22 percent as it benefited from the acquisition of Lumley Insurance last ... More >>

Kirkcaldie flags October for possible capital return

Wednesday, 18 February 2015, 11:16 am | BusinessDesk

UPDATED: Fletcher shares drop on reduced FY guidance

Wednesday, 18 February 2015, 10:52 am | BusinessDesk

Feb. 18 (BusinessDesk) - Fletcher Building shares dropped 4.5 percent after the construction and building products company posted a 26 percent drop in first-half profit, omitted franking credits on dividend payments to Australian investors and said full-year ... More >>

Trade Me posts slower 1H profit growth, FY outlook 'subdued'

Wednesday, 18 February 2015, 10:01 am | BusinessDesk

Feb. 18 (BusinessDesk) - Trade Me Group, New Zealand's largest online auction site, posted slower profit growth in the first half of its financial year as increased investment ramped up costs and only one of its core businesses lifted earnings. More >>

Tui writedown turns NZOG to a first-half loss

Wednesday, 18 February 2015, 9:55 am | BusinessDesk

Feb. 18 (BusinessDesk) - New Zealand Oil & Gas, the exploration company, turned in a loss in its first half after the global drop in oil prices saw it recognise a $13 million write down on its Tui oil field. More >>

Meridian 1H earnings rise 21%, declares special dividend

Wednesday, 18 February 2015, 9:54 am | BusinessDesk

Feb. 18 (BusinessDesk) - Meridian Energy, which generates about 30 percent of the country's electricity, lifted first-half earnings 21 percent as it widened margins and clamped down on costs, and has flagged capital returns for shareholders over ... More >>

Fletcher first-half profit drops 26% on impairments

Wednesday, 18 February 2015, 9:51 am | BusinessDesk

Feb. 18 (BusinessDesk) - Fletcher Building, the second-biggest company on the NZX 50 Index, posted a 26 percent decline in first-half earnings after taking charges for site closures and writing down goodwill on its Forman Contracting business. Full-year ... More >>