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 VMob, the NZAX-listed mobile technology company, is shifting its headquarters to San Francisco, planning to shift from the NZAX to the main board of the NZX listing, and raising about $5 million in a private share placement. The company’s mobile marketing platform delivers personalised, location-based promotional offers to mobile phone users on behalf of major brands to increase sales. At its annual meeting …

By Keith Woodford – NZ Herald Dairy firm lacks people who understand the impact of new, disruptive technologies, writes Keith Woodford. The Chinese Government may like Fonterra but Chinese companies find Fonterra arrogant and difficult to deal with. There is no escaping that Fonterra’s path forward has to be closely linked to China. No one else needs and has the …

Diligent Corp, the governance software developer, lifted first-half profit 11 percent as it generated stronger sales in the US in the second quarter and is picking faster revenue growth through the rest of the year. Net profit after minorities rose to US$4.9 million, or 4 cents per share, in the six months ended June 30, from US$4.4 million, or 4 cents, …

ercer Group looks to sell two divisions and forecasts 2015 loss By Fiona Rotherham Aug. 11 (BusinessDesk) – Mercer Group expects to turn to a loss in 2015 and the stainless steel fabricator is considering selling its interiors and medical divisions to focus on its core business. The Auckland-based company expects to post a $7.8 million loss before finance costs and tax …

Summerset Group, New Zealand’s third-largest listed retirement village operator, more than doubled first-half profit as it boosted sales after opening four new villages in the second half of 2014. Profit rose to $35.7 million, or 16.33 cents per share, in the six months ended June 30, from $15.3 million, or 7.04 cents, a year earlier, the Wellington-based company said in a statement. Revenue …

Property For Industry, the listed industrial landlord, nearly doubled its first-half profit on a valuation uplift for its portfolio and said it will tap investors for $49.5 million for acquisitions and developments. Profit rose to $36.4 million, or 8.85 cents per share, in the six months ended June 30, from $14.4 million, or 3.5 cents, a year earlier, the Auckland-based company said …

PGG Wrightson, the rural services firm controlled by China’s Agria Corp, beat its guidance with an 18.4 percent gain in annual earnings, led by an improved performance for seed and grain. It declared a lower final dividend after investing in businesses in Uruguay and Australia. Operating earnings before interest, tax, depreciation and amortisation rose to $69.5 million in the year ended …

Milk prices have dropped so dramatically that Fonterra Cooperative Group effectively overpaid farmers under an advance payments scheme last year, sapping funds available to pay out farmers at the end of the season and leaving them short of cash even before last week’s deep cut to the 2016 forecast payout. “Last year, Fonterra came out with a higher advance rate schedule during the year, …

The New Zealand dollar gained after Fonterra slashed its milk payout forecast as expected while offering interest-free loans and a slightly improved dividend to its farmers to soften the blow. The kiwi rose to 65.52 US cents as at 5pm in Wellington, from 65.43 cents before the Fonterra statement and from 65.42 cents late yesterday. The trade-weighted index advanced to 70 from 69.83. Fonterra cut …

Fonterra  has slashed its farmgate milk price for the 2015/16 season by $1.40 to $3.85 per kilogram of milk solids but is supporting cooperative members with an additional 50 cents per shared-up kilogram of milksolids in the form of an interest-free loan. The initiative softens the blow for farmers, who’ve seen prices tumble from $8.40 pert kg/ms in 2014, but comes at …