UPDATE: Xero posts small net profit as customers pass 2 million

Jenny Ruth
Thu, 07 Nov 2019

(Updates first and second pars to add share price reaction) Xero shares jumped more than 6.6 percent after it announced better-than-expected first-half results including a small net profit, positive cash flow and a 30 percent jump in subscriber numbers to more than two million. Xero shares, which trade only on the ASX, rose as high as a record A$71.98 from A$67.50 yesterday before easing to A$71.65. The shares are more than 70 percent higher than a year ago. The accounting software company reported a $1.3 million net profit for the six...
Ardern hints at mandatory contact tracing for businesses
Victoria Young | Wed, 15 Jul 2020

Prime Minister Jacinda Ardern today warned businesses to encourage contact tracing or she might force it upon them. “My message to businesses is to put that poster up. We’ve always said it was volu...

GAVIN EVANS: Southland jobs sacrificed to confused energy policy
Gavin Evans | Wed, 15 Jul 2020

The 2,600 jobs to be sacrificed in Southland next year are a high price to pay for confused energy policy and a multi-decade decline in this country’s economic ambitions. Despite the writing being...

Napier Port quarterly freight volumes slide
Gavin Evans | Wed, 15 Jul 2020

Freight volumes through Napier Port have rebounded from their April trough but remain below year earlier levels. The company, which in May cancelled its interim dividend given the uncertain outlook...