Tag Archives: Companies

Guinness Peat Group’s shareholders will see a cash return once the investment firm has been rebranded into its biggest asset Coats, and the UK threadmaker is standing on its own two feet. The London-headquartered firm is firmly focused on getting rid of its last five assets and dealing with its UK pensions facing a shortfall in funding as it moves …

Air New Zealand, which is 73 percent state-owned, posted first-half profit that more than doubled after lifting passenger volumes and boosting yields on international routes, while keeping costs in check. Profit rose to $100 million in the six months ended Dec. 31 from $38 million a year earlier, the Auckland-based airline said in a statement. Operating revenue rose 3.4 percent …

OceanaGold said transportation of copper-gold concentrate from its Didipio Mine in Luzon, the Philippines, has been temporarily suspended after authorities detained its trucks over a tax dispute. The company has delivered about 2,500 tonnes of concentrate to port since production began at the mine but more 2,500 tonnes has piled up at the mine site pending resolution of the dispute. …

Summerset Group, the retirement village operator and developer, more than tripled its net profit, beating the forecast from its 2011 prospectus, and will pay a bigger dividend than what analysts were picking. Net profit climbed to $14.8 million, or 6.96 cents per share, in the 12 months ended Dec. 31, from $4.3 million, or 2.39 cents, a year earlier, the …

Shares in Chorus dropped 2 percent after the telecommunications network operator spun out of Telecom signalled the cost of building a nationwide ultrafast broadband network has increased by some $300 million. The Wellington-based company expects the total UFB build to be between $1.7 billion and $1.9 billion, from a previous range of $1.4 billion and $1.6 billion. It flagged capital …

Meridian Energy says it’s ready for partial privatisation and expects a significant uplift in operating earnings in the second half after transmission outages and heavy rainfall knocked its performance in the six months to Dec. 31. The state-owned power company’s accounts also show a strong positive bounce in the unrealised value of its contracts to service the Bluff aluminium smelter, …

ew Zealand Post Group, the state-owned postal service, posted a 68 percent jump in first-half profit as stronger earnings from KiwiBank and Express Couriers made up for the continued slide at its core postal service. Profit rose to $59.6 million in the six months ended Dec. 31, from $35.4 million a year earlier, the Wellington-based company said in a statement. …

New Zealand equities stormed past 4,200 on the NZX50 Index, recovering ground lost since mid-January despite a mixed first full week of corporate earnings as Telecom Corp became the latest big corporate to announce big job cuts. The NZX50 index of leading stocks rose 44.175 points, or 1.1 percent to 4,214.603, a level not seen since Jan. 18, when there …

Ports of Auckland, whose operations have been disrupted by a drawn-out industrial dispute that scared off customers, posted a 17 percent decline in first-half profit on reduced container volumes and an absence of year-earlier one-time gains. Profit fell to $15.5 million in the six months ended Dec. 31, from $18.6 million a year earlier, the city-owned port company said in …

Sky Network Television, the pay-TV company that’s 44 percent owned by News Corp, reported a 9 percent gain in first-half profit as subscribers migrated to its My Sky premium service and spent more. Profit rose to $68.2 million in the six months ended Dec. 31, from $62.7 million a year earlier, the Auckland-based company said in a statement. Sales rose …