Simon Hartley

Fisher and Paykel Appliances is yet to find a buyer for its expansive Mosgiel plant or locate a suitable city building to lease for its 130 engineers and a new call centre staff, but the latter will now be set up six months earlier than anticipted.

Fisher and Paykel Appliances is in jeopardy of slipping from the all-important Top 10 list of the New Zealand Stock Exchange with its share price having been caned by investors - slumping to near all-time lows yesterday.

Spiralling fuel costs have lopped 24% off Air New Zealand's normalised earnings and the national carrier is predicting a potential transtasman "bloodbath" with increasing competition coming into the sector.

Record dairy stock food and fertiliser imports to Southland have underpinned an increase of almost 3% in after-tax profit for listed South Port New Zealand's full-year result, rising from $2.23 million to $2.36 million.

Dunedin biotechnology company Botry-Zen Ltd has put itself up for sale because it is in default with Bank of New Zealand after its shareholders said no to a plan to raise new capital.

Major city employer Cadbury has confirmed 145 job losses are proposed at its Dunedin plant.

Prospects for the 845 Dunedin workers made redundant in the past four months, along with those laid off during the next two years, look promising, but many could be enticed from Dunedin to opportunities in Southland.

The likely loss of 145 jobs at the Dunedin Cadbury Confectionery factory was regretted by city business leaders yesterday at the same time as they congratulated the company for preparing to spend another $51 million on new equipment.

An entire refit and a survey of two tourism Red Boats from Milford Sound, worth more than $750,000, have kept more than 23 local subcontractors busy in recent weeks.

Tourism Holdings Ltd has reported a 7% increase in after-tax profit for the year to June - rising from $13.4 million last year to $14.3 million - but cautioned it is down almost 10% on forward rental bookings, and tougher times are ahead for the next 12 to 18 months.

Shipping giant Maersk has cut more than 100 ship calls from Port Chalmers - equating to 22% of the port's container volumes - in a decision which took Port Otago by surprise.

Multi-faceted rural services company PGG-Wrightson - a key indicator for the rural economy - has posted an 80% improved after-tax profit, from $40.6 million to $73.2 million, for the year and upgraded its forecast for the present financial year.

Scott Technology stock and profit forecasts have been upgraded on the back of its successful acquisition of mining niche-market company Rocklabs in Auckland, which it purchased for between $8 million and $10 million in May.

Oceana Gold, New Zealand's largest gold miner, rejects claims it is facing its most crucial period during the 18-year life of its mainstay Macraes site in East Otago. Otago Daily Times business reporter Simon Hartley talks to Oceana chief executive Steve Orr about its decimated market capitalisation and, more importantly, Oceana's quest for $US185 million ($NZ266 million) of development funds in an increasingly cashless sector.

Fletcher Building has booked a decreased after-tax profit of $467 million amid warnings about wide-ranging uncertainty in the year ahead.