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 a loss of $457,000, or 0.17 cents, a year earlier, …

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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 million in calendar 2014, down from $131.6 million a year …

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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 financial statements lodged with the Companies Office. Sales rose to …

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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 bringing the bank together again after a bruising period under …

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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 option after warning it could breach banking covenants if Christmas …

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Sealord says Nelson wetfish factory ‘not economically viable,’ 97 jobs at risk

Sealord, New Zealand’s second-largest fishing company, says it needs to downsize its Nelson wetfish processing plant and may eliminate 97 jobs in the face of rising costs, flat prices and a still-strong kiwi dollar. “In its current form, the wetfish factory is not economically viable, and we need to make improvements now to ensure Sealord’s ability to grow and invest in …

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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 ended July 31, which showed sales climbed 19.5 percent to …

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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 business intelligence, halved his stake to now hold 1.2 million …

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Kathmandu says Australasian earnings will grow as it steps up global expansion

Kathmandu Holdings, which today posted a 4.5 percent decline in annual profit, said Australasian earnings should rise in the coming year although overall profit at the outdoor equipment retailer may be dented by investment spending. Net profit fell to $42.2 million, or 20.8 cents a share, in the year ended July 31, from $44.2 million, or 21.9 cents, a year earlier, the Christchurch-based …

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GeoOp CEO Graham steps down to take US executive role with company, shares drop

GeoOp chief executive Leanne Graham has resigned 11 months after the small business app developer listed on the New Zealand Alternative Index and will take a new role with the company leading its push into the US. The shares dropped 11 percent. Graham will move to the US to become executive strategic adviser for America, which currently makes up 8 percent of the company’s customer base, the …

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