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Vector cleared to buy Meridian's Arc metering business
Unified Communications

Vector cleared to buy Meridian's Arc metering business

Vector, the Auckland electricity and telecommunications lines company, has been cleared to by Meridian Energy's Arc Innovations metering business.

By Pattrick Smellie • 2 min read • Wed, 26th Nov 2014
MARKET CLOSE: NZ shares fall; Spark falls; Meridian, MRP heavily traded on MSCI changes
Supply Chain

MARKET CLOSE: NZ shares fall; Spark falls; Meridian, MRP heavily traded on MSCI changes

New Zealand shares fell, paced by Spark New Zealand and Fisher & Paykel Healthcare as investor looked to crystalise recent gains.

By Pattrick Smellie • 4 min read • Tue, 25th Nov 2014
CORRECT: Methven lifts 1H profit 3.4% on cost-cuts, lower tax bill
Shares

CORRECT: Methven lifts 1H profit 3.4% on cost-cuts, lower tax bill

NZ's Methven sees 3.4% profit rise in H1, beating sales dip with cost cuts and tax savings. Eyes top-end annual earnings forecast.

By Pattrick Smellie • 2 min read • Tue, 25th Nov 2014
Abano forecasts 40% jump in first-half profit as sales grow
Health Technologies

Abano forecasts 40% jump in first-half profit as sales grow

Abano Healthcare, the listed healthcare investor, said first-half profit may rise 40 percent even in the face of a weak Australian dollar and tepid.

By Pattrick Smellie • 2 min read • Tue, 25th Nov 2014
Acurity takeover bid extended as ComCom decision pushed out
Health Technologies

Acurity takeover bid extended as ComCom decision pushed out

Connor Healthcare's takeover bid for private hospital operator Acurity Health Group has been pushed out to Dec.

By Pattrick Smellie • 2 min read • Tue, 25th Nov 2014
Heartland Bank profit rises 13% in Sept. quarter as interest income increases
Shares

Heartland Bank profit rises 13% in Sept. quarter as interest income increases

Heartland Bank, the banking subsidiary of NZX-listed Heartland New Zealand, reported a 13 percent increase in profit in the three months to Sept.

By Pattrick Smellie • 1 min read • Tue, 25th Nov 2014
Scales says full-year earnings may exceed prospectus, to pay 3 cent interim dividend
Supply Chain

Scales says full-year earnings may exceed prospectus, to pay 3 cent interim dividend

Scales Corp, the fruit and vegetable logistics company, will pay a 3 cent per share interim dividend and says annual earnings may beat guidance in.

By Pattrick Smellie • 2 min read • Mon, 24th Nov 2014
UPDATE: Ryman posts 13% gain in 1H earnings, on track for FY target of 15% increase
Health Technologies

UPDATE: Ryman posts 13% gain in 1H earnings, on track for FY target of 15% increase

Ryman Healthcare, New Zealand's largest listed retirement village builder and operator, posted a 13 percent gain in underlying first-half profit an.

By Pattrick Smellie • 3 min read • Fri, 21st Nov 2014
NZ dollar heads for 0.4% decline as greenback strengthens on yen
Shares

NZ dollar heads for 0.4% decline as greenback strengthens on yen

The kiwi slid to 78.81 US cents at 5pm from 79.15 cents at 8am on Monday. The trade-weighted index edged lower to 78.29 from 78.38 on Monday.

By Pattrick Smellie • 2 min read • Fri, 21st Nov 2014
UPDATE: Metroglass confirms on track for full year, as interim sales rise 13%, shares gain
Taxation

UPDATE: Metroglass confirms on track for full year, as interim sales rise 13%, shares gain

Metro Performance Glass, which has more than half of New Zealand's glass processing market, is on track to meet full-year prospectus forecasts as i.

By Pattrick Smellie • 3 min read • Fri, 21st Nov 2014
A2 Milk changes Chinese supply approach for infant formula
Shares

A2 Milk changes Chinese supply approach for infant formula

A2 Milk Co has agreed to make China State Farm Holdings Shanghai the sole importer of its a2Platinum infant formula while the milk marketer will ta.

By Pattrick Smellie • 2 min read • Fri, 21st Nov 2014
Horizon Energy first-half profit drops 58% on regulated price curbs
Commerce Commission

Horizon Energy first-half profit drops 58% on regulated price curbs

Horizon Energy Distribution, the Bay of Plenty lines company which exceeded its regulated price path in 2012, said first-half profit fell 58 percen.

By Pattrick Smellie • 2 min read • Thu, 20th Nov 2014
ASB trims milk price forecast by 40c in wake of GDT prices hitting lowest level in five years
Shares

ASB trims milk price forecast by 40c in wake of GDT prices hitting lowest level in five years

ASB cuts milk price forecast by 40c to $4.70/kgMS as GlobalDairyTrade hits a 5-year low, shaking NZ dairy farmers' confidence.

By Pattrick Smellie • 3 min read • Wed, 19th Nov 2014
Argosy Property lifts first-half profit 25% on occupancy boost, divestments
Shares

Argosy Property lifts first-half profit 25% on occupancy boost, divestments

Argosy Property Fund lifted first-half earnings 25 percent as New Zealand's fourth-largest listed property investor boosted its occupancy rate and.

By Pattrick Smellie • 2 min read • Wed, 19th Nov 2014
Pacific Brands sells unprofitable footwear, sports apparel business
NZX

Pacific Brands sells unprofitable footwear, sports apparel business

Pacific Brands, the Australian apparel and linen brands business, has split and sold Brands Collective, its unprofitable footwear and sporting appa.

By Pattrick Smellie • 3 min read • Tue, 18th Nov 2014
Fletcher appoints Ernst & Young as auditor
Shares

Fletcher appoints Ernst & Young as auditor

Fletcher Building, New Zealand's largest listed company, has appointed Ernst & Young as its auditor, ending a 13-year relationship with KPMG.

By Pattrick Smellie • 1 min read • Tue, 18th Nov 2014
Resthome operator Arvida says its care beds will provide steady cash flows for investors
Shares

Resthome operator Arvida says its care beds will provide steady cash flows for investors

Arvida, the retirement village operator planning to raise $80 million in an initial public offering, said its high proportion of care beds provides.

By Pattrick Smellie • 4 min read • Tue, 18th Nov 2014
PledgeMe taps its crowd for $50,000 to fund staff and mobile site
Shares

PledgeMe taps its crowd for $50,000 to fund staff and mobile site

PledgeMe, the equity crowd funder, is using its own platform to raise as much as $100,000 to grow its staff and build a mobile-friendly website.

By Pattrick Smellie • 4 min read • Tue, 18th Nov 2014