Despite two years of no dividends from its 15.5% stake in listed Lyttelton Port of Christchurch (LPC), Port Otago remains adamant on retaining the shareholding which cost it $37 million.
The Warehouse is expected to book increased revenues and sales for its full-year result on Friday, but squeezed margins and increasing competition are expected to knock profits back.
Tourism Holdings Ltd has bought two competing New Zealand campervan rental companies in a deal worth almost $70 million.
New Zealand's mining sector is in state of flux as it deals with myriad issues and a Government now wanting to exact more tax and royalties. Senior Business Reporter Simon Hartley looks at the issues raised earlier this week, at the annual New Zealand branch conference of the Australasian Institute of Mining and Metallurgy, in Rotorua.
A Dunedin lawyer has started an "affected persons register" to encourage former clients of lawyer John Milne to come forward about loans they made to him.
Dunedin biotech company Blis Technologies has forecast its annual losses for the current financial year will balloon from an earlier estimate of $800,000 to $1.3 million for its full-year trading ending next March.
Problem-plagued Solid Energy appears even further away from any partial sell-off by the Government after write-down and impairments charges of $140 million against assets prompted a $40 million after-tax loss for its year's trading to June.
Housing data from New Zealand and Australia paints a bleak outlook for Fletcher Building, with contraction and flat activity respectively in the transtasman residential sectors.
Accumulated exploration cost write-offs have pushed boutique gold producer Glass Earth Gold into an $8.49 million loss for the half-year to June, but it remains confident cash-flows from gold recovery are achievable.
Embattled state-owned enterprise Solid Energy yesterday announced radical changes to its business operations, axing at least 140 jobs, immediately suspending operations at its West Coast Spring Creek mine and distancing itself from expensive underground mine assets.
Port of Tauranga has posted a record result with a 35% lift in container volumes and after-tax profit up 26%, largely because of Ports of Auckland's wharf dispute last year.
A warning shot was fired across the Government's bows yesterday by Oceana Gold, the country's largest gold producer, over proposals to impose increased tax and royalty payments on the sector.
A panel of environmentalists put forward their views at the New Zealand branch of the Australian Institute of Mining and Metallurgy's annual meeting yesterday in Rotorua.
The minerals conference which starts in Rotorua today is set to become one of the most successful yet, with more than 300 delegates registered.
Restructuring costs and low work volumes in New Zealand and Australia soured Fletcher Building's financial result, with its after-tax profit coming in at the lower end of guidance and 12% down on last year.
A lecturer at the University of Otago has won a $50,000 prize for his invention and development of a prototype medical device which tackles the problem of serious complications of post-surgery bleeding.
Retirement village developer and operator Summerset Group Holdings has delivered increased revenue and remains on target to complete construction of 155 units this year, the latter underpinned by a $40 million Dunedin development.
Slow winter trading has left many providers in Otago and Southland's services sector directionless and in contraction, according to the latest BNZ and Business New Zealand performance of services index for July.
New Zealand's electronics industry could be facing higher costs and more regulatory scrutiny because of United States legislation requiring manufacturing exporting companies to declare where they sourced minerals such as gold, tantalum, tungsten and tin.
Analysts are picking Fletcher Building - the lead contractor of Christchurch's multibillion-dollar rebuilding - will deliver after-tax profit at the lower end of its forecast range of $310 million to $340 million range tomorrow.
