Tag Archives: Companies

Price cuts imposed by the Commerce Commission are negative for Vector though the gas distribution network owner has enough of a cushion to ensure its credit rating doesn’t need to be cut, says Moody’s Investors Service. The competition regulator yesterday confirmed Vector will have to cut its prices by 18 percent, and cut its wholesale gas transmission charges by 29.5 …

State-owned national electricity grid operator Transpower returned to a first-half profit after taking a smaller unrealised hit on its financial instruments than a year earlier, and its earnings margins are tracking ahead of its annual target. The Wellington-based company made a profit of $70.7 million in the six months ended Dec. 31 from a loss of $51.5 million a year …

– Postie Plus Group, which last year avoided breaching its banking covenants, is in talks with its banks again after posting a wider first-half on dwindling sales and thinner margins and bracing for an annual loss. The shares tumbled. The Auckland-based company made a pretax loss from continuing operations of $2.56 million in six months ended Feb. 3, compared to …

State-owned national electricity grid operator Transpower returned to a first-half profit after taking a smaller unrealised hit on its financial instruments than a year earlier, and its earnings margins are tracking ahead of its annual target. The Wellington-based company made a profit of $70.7 million in the six months ended Dec. 31 from a loss of $51.5 million a year …

Price cuts imposed by the Commerce Commission are negative for Vector though the gas distribution network owner has enough of a cushion to ensure its credit rating doesn’t need to be cut, says Moody’s Investors Service. The competition regulator yesterday confirmed Vector will have to cut its prices by 18 percent, and cut its wholesale gas transmission charges by 29.5 …

KiwiRail, the state-owned railway company, posted a 7.6 percent gain in first half operating earnings as it benefited from a pickup in freight revenue and a continued drive to cut costs. The operating surplus was $46.9 million in the six months ended Dec. 31, from $42.6 million a year earlier, the Wellington-based company said in a statement. Operating revenue rose …

New Zealand Oil & Gas has asked to be placed in a trading halt for around four hours on both the New Zealand and Australian stock exchanges, pending “a material announcement regarding how NZOF progresses with a material asset.” The company is making no further comment. However, information on the company’s website suggests the announcement is likely to be regarding …

Tourism Holdings, which merged its campervan rental business with two rivals last year, cut its annual earnings guidance on a deteriorating Australian market after posting a small first-half loss as expected. The shares fell 1.5 percent. The Auckland-based company made a loss of $500,000, or 0.4 cents per share, in the six months ended Dec. 31, from a profit of …

Wellington Drive Technologies, which makes energy efficient motors, narrowed its full-year loss after embarking on a strategic overhaul that cut costs, spending and inventory and widened its margins. The net loss shrank to $6.3 million in calendar 2012, from a loss of $14.5 million a year earlier, the Auckland-based company said in a statement. Revenue rose 2 percent to $35.6 …

Competition regulator the Commerce Commission has confirmed that gas distribution network owner Vector will have to cut its prices by 18 percent, and cut its wholesale gas transmission charges by 29.5 percent. The final determinations are in line with earlier drafts, and remain the subject of a High Court merits appeal led by Vector and supported by a range of …