Wednesday , June 20 2018
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Tag Archives: Companies

Mercer worst-performing stock on NZX this year

Mercer Group, the stainless steel fabricator and manufacturer, widened its annual loss after only one of its units turned a profit and it wrote down the value of its assets. The Auckland-based company posted a loss of $6.7 million, or 2.21 cents a share, in the 12 months ended June 30, from …

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BAT NZ sucks up excise tax hike as annual earnings slip 3.9%

British American Tobacco Holdings (New Zealand), the nation’s largest cigarette company, reported a 3.9 percent decline in annual profit as it absorbed the government’s latest hike in excise tax. The local arm of British American Tobacco, whose brands include Pall Mall, Benson & Hedges and Dunhill, reported net profit of $126.5 …

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Apple lifts profit 44% on flat sales, currency gains

Apple Sales New Zealand, the local unit of the iPad and iPod maker, increased annual profit by 44 percent, on largely unchanged sales, as it benefited from a gain on its currency positions. Profit was $15.1 million in the year ended Sept. 27, up from $10.5 million the year earlier, according to its …

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Westpac appoints proud New Zealander David McLean as CEO NZ operations


Proud New Zealander David McLean has been appointed chief executive of Westpac New Zealand after performing an “outstanding” job acting in the role since August 2014 following the resignation of Peter Clare. McLean’s appointment will be highly popular with bank executives and staff. A “people person” he is credited with …

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Briscoes Rod Duke keeps silent on Pumpkin Patch speculation

Rod Duke, majority shareholder and managing director of Briscoe Group, has refused comment on market speculation that he may take control of struggling childswear retailer Pumpkin Patch.  Pumpkin Patch hired Goldman Sachs late last year to advise on its capital and funding requirements and said a share issue was an …

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Fonterra slashes 2015 milk payout to $5.30/kgMS, earnings tumble 76%

Fonterra Cooperative Group cut its forecast 2015 milk price payout by about 12 percent, citing weaker global dairy prices and said there is a risk of further declines given strong global milk production.  New Zealand’s biggest company revised its forecast payout to farmers while releasing its results for the year …

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SLI co-founders Geoff Brash and Steven Marder sell shares as escrow ends

SLI Systems co-founders Geoff Brash and Steve Marder were two of the initial shareholders of the search engine developer who sold some 6.8 percent of the company at the end its 16-month lock-up period at 23 percent below last year’s offer price in a placement largely made up of institutional investors. Brash, vice president of SLI’s …

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