Recent Posts

Kiwi dollar slumps to 62USc amid volatile trading on global growth concerns

The New Zealand dollar slumped to its lowest level in six years as equities sank amid concerns about global growth. The kiwi touched 62.44 US cents overnight, its lowest level since July 2009, amid low liquidity, and was trading at 64.90 cents at 8am in Wellington, from 65.89 cents at 5pm yesterday. The trade-weighted index fell to 69.98 from 71.04 …

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Wynyard loss widens company claims stock price doesn’t reflect value

Wynyard Group, the intelligence software developer, widened its first-half loss while boosting sales 39 percent and anticipates faster revenue growth from the second half as it rolls out a new product. The Auckland-based company posted a net loss of $17.6 million, or 14 cents per share, in the six months ended June 30, from $10.2 million, or 9 cents, a year …

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Genesis Energy ups dividends as free cash flow increases

Genesis Energy became the latest electricity company to increase its distributions to shareholders as it reported a 113 percent increase in net profit of $104.8 million on marginally increased revenues of $2.1 billion in the year to June 30. Chair Jenny Shipley said in a statement the board was “satisfied” with a “strong” performance from Genesis, the country’s largest electricity and gas retailer, …

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