Business

Fletcher Building posted a 20 percent decline in full-year profit after taking $150 million of one-time charges for plant closures and impairments. Pretax earnings rose in line with guidance, driven by a strong New Zealand performance. Profit fell to $270 million in the year ended June 30, from $339 million a year earlier, the Auckland-based company said in a statement. Sales …

Pacific Edge, the maker of non-invasive bladder cancer tests, has won US regulatory approval to commercially process test samples from its latest cancer detecting product at its Dunedin laboratory. Approval and registration with the US regulatory standard, Clinical Laboratory Improvement Amendments, enables the commercial use of its Cxbladder Triage test at its diagnostics laboratory, the company said in a statement. Registration is …

 VMob, the NZAX-listed mobile technology company, is shifting its headquarters to San Francisco, planning to shift from the NZAX to the main board of the NZX listing, and raising about $5 million in a private share placement. The company’s mobile marketing platform delivers personalised, location-based promotional offers to mobile phone users on behalf of major brands to increase sales. At its annual meeting …

Diligent Corp, the governance software developer, lifted first-half profit 11 percent as it generated stronger sales in the US in the second quarter and is picking faster revenue growth through the rest of the year. Net profit after minorities rose to US$4.9 million, or 4 cents per share, in the six months ended June 30, from US$4.4 million, or 4 cents, …

ercer Group looks to sell two divisions and forecasts 2015 loss By Fiona Rotherham Aug. 11 (BusinessDesk) – Mercer Group expects to turn to a loss in 2015 and the stainless steel fabricator is considering selling its interiors and medical divisions to focus on its core business. The Auckland-based company expects to post a $7.8 million loss before finance costs and tax …

Summerset Group, New Zealand’s third-largest listed retirement village operator, more than doubled first-half profit as it boosted sales after opening four new villages in the second half of 2014. Profit rose to $35.7 million, or 16.33 cents per share, in the six months ended June 30, from $15.3 million, or 7.04 cents, a year earlier, the Wellington-based company said in a statement. Revenue …

Property For Industry, the listed industrial landlord, nearly doubled its first-half profit on a valuation uplift for its portfolio and said it will tap investors for $49.5 million for acquisitions and developments. Profit rose to $36.4 million, or 8.85 cents per share, in the six months ended June 30, from $14.4 million, or 3.5 cents, a year earlier, the Auckland-based company said …

PGG Wrightson, the rural services firm controlled by China’s Agria Corp, beat its guidance with an 18.4 percent gain in annual earnings, led by an improved performance for seed and grain. It declared a lower final dividend after investing in businesses in Uruguay and Australia. Operating earnings before interest, tax, depreciation and amortisation rose to $69.5 million in the year ended …

The New Zealand dollar rose after Beijing said it was continuing efforts to support the ailing Chinese stock market, slowing their decline, while locally traders await a speech by the Reserve Bank governor tomorrow. The kiwi dollar advanced to 66.61 US cents as at 5pm in Wellington, from 65.88 cents yesterday. The trade-weighted index gained to 70.90 from 70.22. China‘s Shanghai Composite index …

Maori businesses are more optimistic and recording stronger profit growth than non-Maori firms as the focus of the sector shifts from righting historical grievances to looking to the future, ANZ Bank’s 2015 Maori business report says. The ANZ Privately-Owned Business Barometer found 72 percent of Maori businesses surveyed were upbeat about the next three years, up from a reading of 70 percent …