Air New Zealand chief executive Christopher Luxon says the national carrier’s record result stacks up against any airline in the world, and was underpinned by strong demand, cost efficiencies and cheaper fuel. Net profit rose to $327 million in the 12 months ending June 30, from $263 million a year earlier, the Auckland-based company said in a statement. The result included …

SkyCity Entertainment Group may raise more capital selling notes in the US private placement market after completing the sale of as much as $125 million of seven-year bonds next month that it plans to use to repay bank debt. Standard & Poor’s today assigned a BBB- rating to the casino operator’s bond sale, which is to open on Sept. 3 and close on Sept. 22. That matches …

The Icehouse will tack another medal onto an already-decorated body of work this week: Adherium will become the first of the incubator’s alumni to cross the listing threshold. A digital health technology company whose focus is to addresss the sub-optimal medication use in chronic disease, Adherium is now listed on the Australian Securities Exchange (ASX). On top of that, the …

Most of the end value of New Zealand’s dairy ingredients is being captured by foreign-owned firms beyond the border, a new report shows. The government-commissioned Coriolis research report on growing consumer demand for dairy products in Southeast Asia is the latest in a series on New Zealand’s food and beverage industry aimed at achieving the government’s goal of doubling exports to 40 percent …

A2 Milk, the specialty milk marketing company, turned to an annual loss despite a hike in revenue as it invests in offshore expansion and absorbed costs from its ASX listing. The net loss after tax was $2.09 million for the year ended June 30, compared to a $10,000 profit the year earlier, the Auckland-based company said in a statement. Revenue rose 40 percent to …

Today’s news rings positive following several weeks of doom and gloom. This starting with the announcement that dairy product prices have increased for the first time in six months with the average winning GDT price climbing 14.8 per cent to $1,974USD. The word this morning was that the New Zealand dollar has remained steady as dairy prices bounce back as …

Dairy product prices jumped in the latest GlobalDairyTrade auction, rising for the first time in nearly six months on reduced volume of whole milk powder on offer. The GDT average winning prices climbed 14.8 percent to US$1,974, up from US$1,815 at the previous auction two weeks ago. It was the first increase since the March 3 auction. Some 36,904 tonnes …

The New Zealand dollar was little changed after dairy product prices jumped as expected at auction overnight, as the bounce had already been priced into the local currency. The kiwi was at 65.84 US cents at 8am in Wellington, from 65.89 cents at 5pm yesterday. The trade-weighted index edged lower to 70.96 from 71.04 yesterday. Dairy product prices jumped in …

Milk processor Tatua Co-operative Dairy Company is calling for a full and independent review of the way milk pricing is set following concerns that inefficient milk supply and capital investments could be made under the current model. In its submission to the Commerce Commission’s government-ordered review of the Dairy Industry Restructuring Act (DIRA), the Waikato-based cooperative said it would expect any …

Farm prices have been holding relatively steady in the latest Real Estate Institute of New Zealand rural data despite fears lower dairy prices would force down land values. There’s only been a small drop in the median sales price per hectare for dairy farms to $35,304 for the three months ended July 31, compared to $35,531 in the three months ended …