Recent Posts

Godfrey Hirst pulls $50M dividend from profitable NZ business

Godfrey Hirst, which acquired failed carpet maker Feltex in 2006, has pulled a $50 million dividend from its New Zealand business while reporting annual sales growth and one-time gains from asset sales and purchases. Profit was $10.8 million in the year ended June 30 for Hirst’s Avon Pacific Holdings unit, from $10.3 million a year earlier, according to the Auckland-based …

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Kiwibank board back in compliance after Gribben exit

– State-owned lender Kiwibank is back within the terms of its bank registration after the departure of New Zealand Post director Murray Gribben evened up the number of independent directors on the board. Gribben resigned from the boards of New Zealand Post and Kiwibank on Nov. 30 to take up a new role as chief executive of Crown Irrigation Investments, …

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