Tag Archives: Companies

Vital Healthcare, which invests in medical and healthcare properties, lifted distributable profit by 44 percent after completing three add-on building projects at existing Australian sites, boosting rental income. Distributable profit, the earnings measure it uses for distributions to unitholders, rose to $13.9 million in the six months ended Dec. 31, from $9.6 million a year earlier. Net property income rose …

Retirement village operator and aged care provider Metlifecare says it’s on track to meet its primary guidance of $60 million full-year operating cashflow after reporting cashflow of $29.2 million excluding interest and acquisition costs in the six months to Dec. 31. The results are heavily influenced by five months’ revenue from the merger last July of Vision Senior Living and …

Telecom Corp, the country’s biggest phone company, eked out a 3.7 percent lift in first-half underlying earnings as revenue from its mobile business propped up otherwise disappointing sales. Stripping out one-off items from the Chorus demerger a year earlier, adjusted earnings before interest, tax, depreciation and amortisation rose to $506 million in in the six months ended Dec. 31 from …

Diligent Board Member Services, whose shares have more than doubled in the past 12 months, says it sees no need to restate earnings after reviewing a report into executive options that may not have complied with its incentive schemes. The shares, halted pending the report, will resume trading today. “At this time, the Diligent Board, based on advice received from …

The Commerce Commission has cleared rental equipment operator Hirepool to buy Hirequip out of receivership, saying the two operate in different sectors and are hindered by their rivals. The regulator didn’t find any significant overlap between Hirepool and Hirequip in the hire of heavy construction and earthworks equipment, and that a merged entity would be constrained by competition at a …

Swedish telecommunications giant Ericsson is to open a new manufacturing facility in Wellington, helping to offset a wave of job losses announced for the capital in recent weeks. The firm, which is a supplier to the government-backed ultra-fast broadband roll-out, will create 30 jobs at a new factory in the Wellington satellite city of Porirua to produce fibre-optic cable ducts, …

Specialty chemicals maker Nuplex Industries missed expectations as its net profit more than halved and the company cut its forecast for annual earnings, blaming the strength of the currency and weak trading conditions in Australia and Europe. Net profit sank to $11.5 million, or 5.8 cents per share, in the six months ended Dec. 31 from $24.1 million, or 12.3 …

Finished wood products manufacturer Tenon says it’s on the cusp of profitability as the prolonged slump in the US housing market comes to an end, but its cost-cutting and efficiency investments in New Zealand have been completely eroded by the high kiwi dollar. Tenon reported a reduced US$2 million loss in the six months to Dec. 31, down from US$6 …

Snakk Media, the latest brainchild of Hyperfactory co-founder Derek Handley, will list next month on the stock exchange’s small-cap bourse as a pre-cursor to a capital raising. The Auckland-based company, which aggregates publishers’ ad space on mobile devices and matches it to advertisers’ demand, will list on the NZAX on March 6 in a compliance listing, allowing future capital raising, …

Westpac Banking Corp’s New Zealand unit lifted first-quarter earnings 9.7 percent as it widened its interest rate margins, although its bottom line was eroded by unrealised changes in the value of its financial instruments. Profit after tax and before fair value movements climbed to $159 million in the three months ended Dec. 31 from $145 million a year earlier, according …