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ANZ New Zealand 1Q profits sinks 25 percent as margins soften

ANZ New Zealand, the country’s biggest lender, reported a 25 percent fall in first-quarter profit as the local unit of Australia & New Zealand Banking Group recorded softer margins, even as it grabbed more market share. Net profit dropped to $300 million in the three months ended Dec. 31, from $400 million a year earlier, according to ANZ New Zealand’s …

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Hallenstein Glasson 1H profit climbs 15 percent on ‘robust’ NZ sales

Hallenstein Glasson, which runs the clothing chains that make up its name, lifted first-half profit 15 percent with a “robust” sales period in New Zealand. The Auckland-based company said net profit will be between $10.3 million and $10.5 million in the six months ended Feb. 1, from $9 million a year earlier. That’s just ahead of Forsyth Barr’s forecast of …

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Michael Hill 1H earnings creep up on Australian gains, tax dispute lingers

Michael Hill International, the jewellery chain that bears its founder’s name, posted a 5.9 percent gain in first-half profit on Australian sales growth and said it is still battling tax departments on both sides of the Tasman over its 2008 restructuring. Net profit rose to $27.8 million, or 7.23 cents per share, in the six months ended Dec. 31, from …

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