Tag Archives: nz companies

The Commerce Commission inquiry into anti-competitive behaviour by Countdown supermarkets, alleged by former Labour Party MP Shane Jones, has found nothing to warrant prosecution, although it warns supermarkets to take care in the way they communicate\ with suppliers and that discussions with competitors “carry significant risks for all involved. The competition watchdog’s report, issued this morning, suggests much of the concern among …

The Commerce Commission inquiry into anti-competitive behaviour by Countdown supermarkets, alleged by former Labour Party MP Shane Jones, has found nothing to warrant prosecution, although it warns supermarkets to take care in the way they communicate\ with suppliers and that discussions with competitors “carry significant risks for all involved. The competition watchdog’s report, issued this morning, suggests much of the concern among …

AWF Group, the contract labour firm that last year took on debt to acquire white-collar recruiter Madison, will probably launch a $12 million rights offer next year to reduce its borrowings and put some money in the kitty for potential future acquisitions. The Auckland-based company used debt to fund the $30 million purchase of Madison a year ago and expects to borrow a …

Moa Group posted a wider first-half loss after the unprofitable boutique beer maker restructured its fledgling business and changed distribution and brewing arrangements to underpin future growth. The Auckland-based company posted a loss of $3.21 million, or 9.5 cents a share, in the six months ended Sept. 30, from a loss of $3.04 million, or 10.1 cents, a year earlier, it said in …

SeaDragon, which manufactures fish oil for health supplements, has reported a $574,000 half-year loss, 362 percent down on the same period last year after difficulties securing raw material saw its factory underused. The Nelson-based company reported strong sales growth of 23 per cent to $2.6 million in the six months ending Sept. 30, ahead of the $2.4 million the company …

Comvita, which produces health products derived from manuka honey, has entered into a joint venture with East Taupo Lands Trust to harvest manuka honey, securing the supply of its main ingredient. The joint venture Kaimanawa Honey GP will initially start with 3,000 hives to harvest manuka honey on Ngati Tūwharetoa trust’s land holdings, the Te Puke-based company said in a statement. Comvita will provide the beekeeping equipment and …

The switch from floating to fixed interest rates mortgages has impacted Westpac New Zealand’s net interest margin,which fell six basis points in the 2014 financial year. Net interest margin is the difference between what interest the bank charges for loans and what it has to pay for the money. It fell to 2.27 percent in the year ending Sept. 30, from …

Dorchester Pacific, the finance company, has reached the 90 percent threshold in its takeover of Turners Group, allowing it to mop up remaining shares in the car auction firm. Dorchester offered Turners’ shareholders either $3 a share in cash, two-year notes that pay interest of 9 percent and convert to Dorchester shares, ordinary shares of Dorchester, or any combination of the three. …

Sanford, the country’s biggest listed fishing group, has expanded its management team to kick off structural changes under new chief executive Volker Kuntzsch. The Auckland-based company’s senior managers are chief operating officer Greg Johansson, chief financial officer Clement Chia and chief people officer Claire Walker, rounded out by Kuntzsch, who took over the top job in December last year. The appointments …

Lib Petagna, the chief investment officer of HRL Morrison & Co which manages Infratil, has sold down his stake in the listed infrastructure investor, with Accident Compensation Corp’s investment portfolio taking up the majority of the shares. JML Capital, an entity related to Petagna, sold 3 million shares on market at $2.81 on Oct. 24, reaping $8.43 million, according to …