Analysts pan Fletcher results, one comparing it to Fonterra

Analysts pan Fletcher results, one comparing it to Fonterra
Jenny Ruth
By Jenny Ruth Aug. 26 (BusinessDesk) - Fletcher Building managing director Ross Taylor’s hopes that the market will recognise his achievements to date have been dashed. Analysts have panned the 2019 annual results, albeit that they were well-signalled, with some cutting their forecasts for this year. Grant Swanepoel, an analyst at Craigs Investment Partners, has shaved $17 million off his current-year forecast and now expects earnings before interest and tax to come in at $513 million from $631 million in the year just gone. “Despit...

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NZIER's Shadow Board predicts RBNZ will hold, with one exception
Economy

NZIER's Shadow Board predicts RBNZ will hold, with one exception

The New Zealand Institute of Economic Research’s Shadow Board expects the Reserve Bank of NZ to hold the official cash rate at 5.5% for another year, although one member did call for a hike this week. “While inflation pressures are still high and the labour market remains strong,...

RBNZ could hint cuts may come sooner
Economy

RBNZ could hint cuts may come sooner

The RBNZ will announce its latest decision at 2pm on Wednesday. 

Briscoe Group says tax changes will hit FY net profit by $7.4m
Retail

Briscoe Group says tax changes will hit FY net profit by $7.4m

New legislation affects depreciation on commercial buildings.  

Rebecca Howard 05 Jul 2024
Core Crown tax revenue higher than expected in May accounts
Economy

Core Crown tax revenue higher than expected in May accounts

Government tax intake is $1.57 billion higher than forecast, according to the latest Crown accounts.Treasury released the interim financial statements for the 11 months ended May 31 on Wednesday morning, which showed core Crown tax revenue was $111.12b.This was 1.4% more than the...

Staff reporters 04 Jul 2024