Tag Archives: Companies

Summerset Group shareholder Quadrant Private Equity is selling down its 37.2 percent stake in the retirement village operator, taking advantage of the stock’s 34 percent advance this year. QPE Funds Management, the Quadrant unit that holds the shares, “is in the process of selling part of its shareholding,” Summerset said in a statement. QPE has asked Summerset to seek a …

Ryman Healthcare, the retirement village operator whose shares have jumped by more than a third this year, boosted annual profit 13 percent as increased sales of units lifted its fee income and as the value of its property portfolio continued to climb. Net profit rose to $136.7 million, or 27.5 cents per share, in the 12 months ended March 31, …

Infratil, which is mulling the float of its Z Energy chain of petrol stations, reported a drop in full-year profit after writing down the value of its UK airports and recognising accounting charges. Net profit fell to $3.4 million in the year ended March 31, from $51.6 million a year earlier, the Wellington-based company said in a statement. Operating revenue …

PGG Wrightson, the rural services company which fell out of the NZX 50 Index this year, expects annual earnings to fall by as much as 27 percent as dry conditions on both sides of the Tasman and lower livestock values erode prices. The Christchurch-based company expects earnings before interest, tax, depreciation and amortisation of between $40 million and $48 million …

Synlait Milk, the dairy company controlled by China’s Bright Dairy & Food, is considering an initial public offering in New Zealand three years after abandoning such a capital raising because of lack of investor demand. Bright Dairy emerged with a 51 percent stake in 2010, paying $82 million and said at the time it would consider a share market listing …

Kiwi Income Property Trust, the owner of Auckland’s Sylvia Park Shopping Centre, reported a 15 percent fall in annual earnings due to a drop in rental income and expects to pay a smaller return to investors in 2014. Distributable earnings, the favoured profit measure for property investors which strips out unrealised movements in the value of the portfolio, fell to …

SkyCity Entertainment Group has gained a 27-year extension to its Auckland casino licence and can add 230 slot machines and 40 gaming tables in exchange for meeting the $402 million construction, fit-out and land costs of a new convention centre in the city. The company is gaining concessions with a net present value of $316 million, according to a base …

Warehouse Group, the country’s biggest listed retailer, boosted third-quarter sales at its Red Sheds and stationery outlets, and has kept its annual guidance unchanged. Sales, excluding recent acquisitions Noel Leeming and Torpedo7, rose 6.2 percent to $418.7 million in the three months ended April 28 from the same period a year earlier, the Auckland-based retailer said in a statement. Including …

Fidelity Life Assurance has acquired most of Tower’s life insurance business for a net amount of about $70 million, propelling the closely held company to the third-largest in the market. Fidelity, whose businesses include life insurance, business insurance and KiwiSaver, is acquiring most of Tower’s non-participating life insurance. The Auckland-based company has a strategy of growing organically and through acquisitions, …

Local retail investors won’t get a chance to buy into the NZX float of website software developer SLI Systems after the share offer was overbid by almost two-and-a-half times in the bookbuild by institutions. The Christchurch-based company plans to raise $15 million in an initial public offer at $1.50 apiece and a further $12 million from existing shareholders as it …