Logistics company Mainfreight says its net profit for the March year came to $65.7 million, up 39.2 per cent on the previous year's but its latest acquisition, Europe's Wim Bosman, has experienced a challenging second half.
The financial markets and bank economists seldom see eye to eye, but they are truly poles apart when it comes to where New Zealand interest rates go from here.
Shareholders in Te Puke-based Comvita New Zealand will know tomorrow whether their loyalty was well-placed when the manuka honey company reports its result for the year to March.
Depressed prices on the global dairy market have forced Fonterra to revise down its forecast payout for the current season by 30c per kg of milksolids.
Shares in Wakefield Health rallied after the private hospital owner-operator said its earnings had recovered in the year to March.
Mark Weldon, in his first move on the corporate scene since leaving the NZX early this month, has joined the board of Diligent Board Member Services.
The Government has moved to provide a new legal framework for the issuance of covered bonds by New Zealand-registered banks.
The New Zealand Shareholders Association said it will vote against the re-election of Sir Ron Brierley to the board of the company he founded - Guiness Peat Group (GPG) - and urged other other shareholders to do likewise.
EnviroWaste Services, New Zealand's second biggest waste management company, is up for sale and its owner - Australia's Ironbridge Capital - is considering exiting through an initial public offer (IPO), a financial market source said today.
Fund managers have given an initial thumbs up to Telecom's appointment of Auckland International Airport chief executive Simon Moutter as its new chief executive and managing director.
Inflation will be the name of the game next week as the financial markets prepare for Thursday's release of the Consumer Price Index for the March quarter.
Investors in over $1 billion of "callable'' 10-year bank bonds look set to be paid five years early as banks seek to avoid paying interest rates in excess of 8 per cent.
Westpac has joined the interest rate debate, saying the differing views on whether borrowers should opt for fixed rate or floating rate mortgages showed the trading banks were at odds with the Reserve Bank about where inflation goes from here.
The Warehouse, under attack from the so called "category killers'', reported a slight increase in its first half profit today, but analysts said it will take time for the company to re-assert itself as New Zealand's pre-eminent discount retail chain.
Devon Funds Management and Macquarie-owned Brook Asset Management have reached a settlement over a dispute that dates back to 2010, when Devon set up shop as a rival "boutique'' fund manager to Brook.
One-third of New Zealand's banking customers would not recommend their bank to family and friends, according to a study released today by Gallup Consulting.
Fletcher Building's share price surged to is highest point in almost five months today as positive signals began to emerge from the domestic housing and construction sector.
Angel investors - rich individuals who back business start-ups - were active in the second half of last year but were keener on supporting existing companies than they were on stumping up cash for new ventures, the NZ Venture Investment Fund (NZVIF) said.
Earnings were mixed for most of the listed public companies in 2011 who announced their results in the latest reporting season, but many were cautiously optimistic about their prospects for the year ahead, brokers First NZ Capital said.
Newly listed retirement village developer and operator Summerset Group Holdings has reported a net profit after tax of $4.3m for 2011, down from its prospectus forecast of $5m, which the company said was due to non-cash accounting adjustments.
