Tuesday , May 30 2017
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Woosh narrows annual loss as accounts tagged by auditor

Woosh Wireless’s financial statements have been tagged by its auditor as the internet service provider narrowed its annual loss by clamping down on costs to offset falling sales. The Auckland-based company narrowed its loss to $1.32 million in the year ended Aug. 31, from an earlier loss of $2.59 million it said in its …

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Restaurant Brands says fourth-quarter sales rise 19%

Restaurant Brands, New Zealand’s largest fast-food store operator, increased fourth-quarter sales by 19 percent as it benefited from an extra week’s trading, a better performance from its KFC fried chicken unit and the addition of Carl’s Jr. burger chain outlets. Sales at the stores rose to $92.8 million in the 13 weeks ended …

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NZ govt posts small surplus in 7 mths to January as tax take swells

The New Zealand government posted a small operating surplus in the seven months through January as tax revenue beat expectations, while costs were smaller than anticipated. The operating balance before gains and losses was a surplus of $77 million in the seven months ended Jan. 31, compared to a forecast deficit …

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World Week Ahead: Apple Watch, US retail sales

Apple’s new watch, a report on US retail sales, and the European Central Bank’s new quantitative easing programme will take centre stage this week. On Friday, a much better-than-expected US payrolls report fuelled expectations the US Federal Reserve will raise interest rates as early as June. Employers added 295,000 jobs …

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Fliway Group seeks up to $44.5 million in first IPO of the year

Fliway Group, the independent transport and logistics provider, is seeking to raise between $27.3million and $44.5 million through the first initial public offering on the NZX this year. The prospectus to be registered this afternoon is expected to value the company at around $70 million to $75 million. The 18-year-old …

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NZ wholesale trade rises for third quarter in December

New Zealand’s wholesale trade grew for a third quarter in the final three months of 2014, with increased activity for apparel, pharmaceuticals and furniture leading the expansion. Seasonally adjusted sales rose 0.3 percent in the three months ended Dec. 31, slowing from the 0.6 percent pace in September, and rounding …

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Fulton Hogan 1H earnings dip on weak Aussie economy

Fulton Hogan, the privately held construction firm, says first-half pre-tax earnings dropped 10 percent as Australia’s economic woes kept a lid on spending in the resources and state sectors, while the strong kiwi dollar eroded profit earned across the Tasman. Pre-tax net profit fell to $83.4 million in the six months …

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Warehouse lowers annual profit, dividend forecast on weaker trading

Warehouse Group lowered its forecasts for annual profit and dividends after New Zealand’s largest listed retailer posted weaker first-half earnings as its Red Sheds and Noel Leeming units missed expectations. Full-year adjusted net profit, which excludes one-time items and is the basis for dividend payments, will be between $52 million …

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