Napier Port pays back wage subsidy

Wed, 30 Sep 2020

Napier Port says it has repaid $2 million of the wage subsidy it received from the government support scheme.The payment, which was the full amount it received, won’t impact its earnings guidance as its August note excluded the wage subsidy funds, it said.It expected net profit after tax for the 12 months to Sept. 30 would be about $20 million “assuming no material change to trading conditions.”Outlook beyond the end of the financial year was subject to considerable uncertainty with cruise ship visits unlikely to resume for th...

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John Penno quits Synlait board as George Adams elected chair

Synlait Milk co-founder John Penno has quit the company’s board, and George Adams has taken over as chair.The debt-laden milk processor told the New Zealand stock exchange (NZX) on Wednesday that Adams, who joined the board in March as an independent director, would take over fro...

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