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Synlait Milk, the dairy processor which counts China’s Bright Dairy as a cornerstone shareholder, cut its full-year earning forecast for the second time this year as a strong currency and an unfavourable product mix weighs on the exporter. The Rakaia-based company said profit will be $17.5 million to $22.5 million in the year ending July 31, down from a March estimate …

Renaissance Corp ,which has sold all of its operating assets as part of a plan to return capital to investors and close down, says it’s unlikely to get a $1 million earn-out from the Yoobee School of Design because earnings are tracking below target. The Auckland-based shell company, which sold its design school to Academic Colleges Group for a net …

Shares in Moa Group, which raised $16 million when it went public in 2012, plunged to almost a third of its listing price after the boutique beer maker posted a wider full-year loss and said major shareholders Pioneer Capital and the Business Bakery have committed to providing enough financial support to allow the company to keep operating for at least the year …

Shares in Trilogy International jumped 10 percent after the skincare and scented candle maker’s annual profit soared, having become profitable a year earlier, as revenue growth in its Ecoya candle brand offset declining sales of skincare products in Australia. Net profit climbed to $1.07 million, or 2 cents per share, in the 12 months ended March 31 from $34,000, or 0 cents, a year earlier, the …

The Financial Markets Authority has issued a warning to the directors of failed lender St Laurence over potential breaches of the Securities Act, deciding against pursuing them in court as the breaches occurred during a four-month period when reinvestment was low and that there was no evidence of dishonesty or personal gain in the alleged misconduct. The market watchdog has …

Microsoft New Zealand, the local arm of the world’s biggest software maker, lifted sales and profit last year while Hewlett Packard’s local unit extended its losses, highlighting increased demand for cloud-based services and weaker sales of personal computers. Sales at Microsoft NZ rose 2.9 percent to $78.5 million in the 12 months ended June 30, 2013, according to its annual …

Postie Plus, the worst performing stock on the New Zealand sharemarket the past year, had its shares placed on a trading halt pending a material announcement by the company. The Auckland-based retailer has previously said it expects to have a “significant” net loss before tax in the year ending Aug. 3, though smaller than last year’s loss of $10.6 million. Postie …

New Zealand angel investors are backing too few start-ups and should broaden their portfolios if they want to improve their chance of a return, according to Angel Association chairman Marcel van den Assum. The success of software companies such as Wellington-based Xero had helped foster an environment where start-ups can flourish, though local angel investors have been reluctant to expand …

Fonterra Cooperative Group’s forecast 17 percent drop in its milk payout for 2014/2015 will likely weigh on the New Zealand economy next year but will have less impact on the dairy exporter’s own earnings, which have been driven by the gap between milk powders and other products. The world’s biggest dairy exporter forecast a farmgate milk payout for the coming …

Goldman Sachs New Zealand Holdings, the local unit of the Wall Street investment bank, posted a 63% percent jump in revenue in 2013, a boom year for market activity that saw it win a share of deals including the floats of Z Energy, Meridian Energy and Synlait Milk, Tower’s asset sales, Harvard University’s forest sale and the selldown of Air …