Gains for HNZ and more expected
Gains for HNZ and more expected
Heartland New Zealand has reported a 34% boost to full-year profit and expects larger gains in the coming year, having increased its assets base by $342million to $3.35billion.
Simon Hartley
Competition big factor in fall
Competition big factor in fall
Contact Energy's profits have been undermined more than 40% for the year to June, in part due to the highly competitive retail electricity market.
Profit up but slow down a concern
Profit up but slow down a concern
Global logistics and courier company Freightways booked a boosted after-tax profit for the year to June, but increasing economic headwinds are of growing concern for analysts.
S&P's Fonterra 'credit watch' warning
S&P's Fonterra 'credit watch' warning
Fonterra's credit rating has attracted a ''credit watch with negative implications'' from international rating agency Standard and Poor's, seemingly giving some credence to rising stockbroker concerns over Fonterra.
S&T result up by 20% in difficult conditions
S&T result up by 20% in difficult conditions
Restructuring and acquisitions have paid dividends for steel distributor Steel and Tube as annual revenue pushed $500million and there was a 20% boost to after-tax profit but rural sector headwinds could be on the way.
Midwinter house sales up by 37%
Midwinter house sales up by 37%
Midwinter house sale numbers were up 37% across the country for July, with the Central Otago Lakes region booking one of the largest gains at 60%.
Pacific Edge strategy succeeding, meeting told
Pacific Edge strategy succeeding, meeting told
Shareholders in Dunedin bladder cancer diagnostic company Pacific Edge have again been reassured it is still targeting $100million turnover, in its fifth year of trading in 2018.
Pacific Edge receives grant to pursue SE Asian expansion
Pacific Edge receives grant to pursue SE Asian expansion
Dunedin cancer diagnostic company Pacific Edge has been awarded a three-year, $600,000 grant from New Zealand Trade and Enterprise, which will be used to further its expansion into Asian markets.
Make or break for Solid Energy
Make or break for Solid Energy
Debt-laden Solid Energy is in voluntary administration with a proposal to sell off its assets over the next two and a-half years, at least staving off any immediate redundancies for its remaining 740 staff.
Australia boosts Vital result
Australia boosts Vital result
The Australian assets of medical property investor Vital Healthcare Property Trust have underpinned a more than doubling of after-tax profit, which included an $84 million rise in the value of its property portfolio.
Headwinds forecast for PGW
Headwinds forecast for PGW
A strong result by PGG-Wrightson for its trading in the year to June has been applauded by analysts, but its outlook is marred by the looming effects of the dairy crisis.
Economy tipped to deteriorate
Economy tipped to deteriorate
A ''ferocious'' decline in global dairy prices has economists amending their short-term outlook for New Zealand's economy, with GDP plunging and unemployment rising to 6.5% - all while home mortgage foreclosures increase.
Financial strain showing on farms
Financial strain showing on farms
Agricultural borrowing is up more than 9% on a year ago and Westpac is cautioning that the present stability in dairy farms holding their value is now under increasing pressure.
'Thriving' Oceana Gold wins industry award
'Thriving' Oceana Gold wins industry award
Oceana Gold has won one of Australia's top mining industry awards, the ''Digger of the Year'', at the annual Diggers & Dealers Mining Forum conference in Kalgoorlie last week.
FSF units spike after dividend guidance
FSF units spike after dividend guidance
Fonterra's listed Fonterra Shareholder Fund (FSF) units continue to hover just above their all-time low, but surged after Fonterra gave dividend guidance with yesterday's payout announcement.
Briscoe not budging on KMD offer
Briscoe not budging on KMD offer
Briscoe Group is showing no signs of upping its $1.80 hostile takeover bid for ailing Kathmandu, with each company now calling the other's bluff.
Huntly's coal-fired generators to close
Huntly's coal-fired generators to close
A third major issue for New Zealand's electricity sector has been resolved this week with Genesis Energy announcing its last two coal-burning Huntly electricity generators will be permanently shut down by December 2018.
Kathmandu rejects Briscoe offer as exploitative
Kathmandu rejects Briscoe offer as exploitative
Hostile takeover target Kathmandu has rejected Briscoe Group's offer as ''highly opportunistic'', claiming it is as much as 33% below the top value of a recent independent valuation.
Origin Energy sells stake in Contact
Origin Energy sells stake in Contact
Origin Energy's $1.8billion sale of its 53% stake in Contact Energy has been completed, with brokerages positive on Contact's outlook and hundreds of millions of shares changing hands yesterday.
Contact sale ends months of conjecture
Contact sale ends months of conjecture
Contact Energy's 53% cornerstone shareholder - Australian company Origin Energy - is expecting to have completed the $1.8billion sale of its stake by today.