Tag Archives: Companies

Hallenstein Glasson Holdings, the clothing chain, said full-year profit may drop as much as 12 percent after a slow start to winter hurt returns from its Glasson stores in Australia, where rivals have cut prices aggressively. Profit may be $18.5 to $19.5 million in the 12 months ending August 1, from $21 million a year earlier, the Auckland-based retailer said …

New Zealand’s ultra-fast broadband initiative is threatened by a regulatory process that is “weird” to foreign investors, could ultimately be redundant, and is producing the opposite of the intended effect of splitting Telecom in two, says Chorus chief executive Mark Ratcliffe. Ratcliffe used a speech to a Commerce Commission conference on proposals to regulate prices for unbundled bitstream access to …

Opus International Consultants, the NZX-listed engineering consultancy, has relented on plans to seek approval to make capital contributions to a Middle East joint venture in perpetuity. Chairman Kerry McDonald said Opus will seek approval from minority shareholders for any contributions to a JV with Opus International (M) Bhd (OIMB) that exceed 20 percent of its market capitalisation. The change of …

Burger Fuel Worldwide, the fast food chain franchisor, boosted annual profit 55 percent as sales in the Middle East continued to surge. The company won’t pay a dividend as it builds up cash for investments. Net profit rose to $1.1 million, or 2.05 cents per share, in the 12 months ended March 31, from $708,000, or 1.32 cents, a year …

Equities on Wall Street and in Europe fell as the Bank of Japan’s decision to keep its monetary policy program unchanged disappointed those who had hoped for extra measures and underpinned concern the US Federal Reserve might taper its stimulus. In late afternoon trading in New York, the Dow Jones Industrial Average shed 0.5 percent, the Standard & Poor’s 500 …

Westfield NZ Holdings, which owns nine shopping centres in New Zealand worth $2.8 billion, increased its dividend to its Australian owners by about two thirds last year after selling three properties and gaining tax benefits. Westfield paid $97.6 million in dividends in the year ended Dec. 31, 2012, according to the company’s financial statements. That’s an increase of 64 percent …

Serco New Zealand, the local unit of the UK’s Serco Group, reaped a modest profit in the first full year of its $300 million, 10-year contract to run Mt Eden/Auckland Central Remand Prison for the Department of Corrections. Profit was $368,623 in calendar 2012, from about $1 million in 2011, when it took over full management of the facility mid-way …

Postie Plus Group, the clothing retailer whose shares have fallen 29 percent this year, said third-quarter sales fell 14 percent after seasonal stock was disrupted by problems at its third-party distribution centre. Sales from continuing operations fell to $19.4 million in the February-to-April quarter, from $22.6 million in the same period a year earlier, the Auckland-based company said in a …

New Zealand Invoice Financier, Working Capital Solutions, has expanded into Australia with the opening of a Sydney office. Supported by one of the industry’s most experienced authorities, Australian Greg Charlwood, this locally owned business is cited to be a major new player. In the last seven years, the factoring industry in Australia has grown by over 82 percent, yet it …

Dorchester Pacific, the financial services firm whose shares have soared 237 percent in the past year, lifted its stake in Turners Auctions to 19.85 percent and said it has no immediate plans to make an offer for the company. Dorchester is flush with funds after a greater-than-expected conversion of options and share placement this month raising about $21 million. The …