Local earnings defy gloomy businesses as stocks break new records

Tue, 04 Sep 2018

By Sophie Boot Sept. 5 (BusinessDesk) - The latest round of New Zealand corporate earnings largely delivered as expected, with most companies reporting sales and profits within analysts' predictions. The local stock market surged to a record in August despite few companies outperforming, and defying increasingly gloomy business confidence. The bulk of 34 listed companies' earnings were posted between Aug. 8 and Aug. 29 in what broking firm First New Zealand Capital described as an earnings season that "delivered few surprises". Res...

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