Tag Archives: Companies

Xero, Wellington-based cloud accounting software firm, has become New Zealand’s latest billion dollar company after its shares climbed to a new record today. The stock rose 5.7 percent to $8.60, giving the software developer a market capitalisation of $1.01 billion and putting Xero in the company of 17 other local issuers on the stock exchange. That’s about 21 times Xero’s …

Briscoe Group, the homeware and sports goods retailer controlled by managing director Rod Duke, said annual profit rose 11 percent to a record as sales gained more than costs, allowing the company to lift its dividend. Profit rose to $30.5 million in the 12 months ended Jan. 27, from $27.5 million a year earlier, the Auckland-based company said in a …

Snakk Media, the latest brainchild of Hyperfactory co-founder Derek Handley, almost doubled its share price upon listing on the stock exchange’s small-cap NZAX bourse, and signalled plans for a share purchase plan in the second quarter. The stock traded at 12 cents, almost twice the 6.5 cents it listed at, in a compliance listing on the market, meaning no funds …

Online auction site Trade Me, which is on the prowl for more acquisitions, has sold its group-buying Treat Me website for an undisclosed sum in a management buyout. The Wellington-based company expects to complete the sale to a consortium led by Treat Me head James Macavoy in the next month, two years after launching the website, it said in a …

Auckland real estate firm Barfoot & Thompson lifted its property listings and sales last month, which slowed the pace of price rises as more houses were available to meet overheating demand. New listings climbed 22 percent to 1,752 in February from a month earlier, while sales advanced 8.8 percent to 892, the realtor said in statement. Sale prices increased 0.6 …

Stock exchange operator NZX is looking to launch a new spot gas market in June this year expanding its range of services, and providing participants a new tool to manage their supply as the sector new pipeline requirements. The Wellington-based company’s launch is contingent on securing operating approvals, and will offer a baseline market from June to allow monthly, weekly, …

Telecom Corp, the county’s biggest phone company, has appointed Lion finance director Jolie Hodson as its new top number cruncher. Hodson will take up the role of chief financial officer from June, replacing Nick Olson. She’s currently a Sydney-based finance director of Lion’s beer, spirits & wines Australia division, its biggest business unit. Telecom’s general manager of commercial finance Tim Bluett …

Allied Farmers has taken a further $4.1 million impairment on its ex-Hanover Finance assets, inflating its first-half loss, which still narrowed from a year earlier. The Hawera-based company posted a loss of $5.5 million in the six months ended Dec. 31, from a loss of $8.3 million a year earlier. Revenue rose to $22.6 million from $9.6 million. The company …

Veritas Investments, the shell company that’s acquiring the Mad Butcher franchisor business, aims to raise up to $25 million in the public share offer next month and has secured a $10 million loan facility from ANZ New Zealand. The capital raising will fund the $20 million cash component of its $40 million purchase, with the balance to be met with …

ANZ Bank announced an assistance package to help drought-affected farmers get through the Big Dry.  Parts of Northland have had their driest February since records began. This week the Government declared a state of drought in Northland, and Federated Farmers expects other regions to follow soon. “As with any serious weather event that impacts on dairy and meat production, the …