Millennium & Copthorne Hotels NZ shares up 10% after result

Millennium & Copthorne Hotels NZ shares up 10% after result
The hotels company expects to move from "revive" to "thrive" this year. (Image: NZME)
Rebecca Howard
Shares in Millennium & Copthorne Hotels New Zealand rose 10% after it reported its highest full-year revenue in five years and was upbeat about the tourism and property markets.“The long-term macro drivers for our business are positive – the tourism and property markets are both expected to start to recover in the coming year; New Zealand is a top tourist destination and tourism is New Zealand’s second highest export earner,’ said MCK chairman Colin Sim.Revenue was up 21% to $176.2 million in the year to December 31...

More Markets

NZ stocks end firmly as outlook brightens
Markets Market Close

NZ stocks end firmly as outlook brightens

Improved, post-results season sentiment drove NZ stocks higher.

The Warehouse Albany and Silverdale could be first in line for store revamp
Retail

The Warehouse Albany and Silverdale could be first in line for store revamp

The Warehouse’s Albany and Silverdale stores could be first in line to undergo an interior revamp, according to chief executive Mark Stirton, who gave an update to shareholders at the company’s annual meeting on Friday.The meeting covered everything from the company’s 2025 financ...

Westpac cops $3.64m penalty for lender responsibility breaches
Finance

Westpac cops $3.64m penalty for lender responsibility breaches

Credit Contracts and Consumer Finance Act in focus again.

New Talisman in trading halt
Markets

New Talisman in trading halt

New Talisman Gold Mines has been placed in a trading halt because of its financial position.The mining company requested the halt, saying the board must meet “to consider the company’s current financial position and its strategic path forward”.“The board cannot reach a conclusion...