Business
Retail
Comvita shares tumble as it says honey production season was poor overall
By Rebecca Howard May 6 (BusinessDesk) - Comvita shares fell 9.3 percent after it said honey production had been "poor overall" for the third season in a row and it now expects a net loss of around $6 million for the year. The shares recently traded at $3.80 and are down 1...
Retail
Briscoe warns accounting change and margin squeeze may knock profit
By Paul McBeth May 6 (BusinessDesk) - Briscoe Group says it may struggle to deliver another record profit as accounting rule changes reduce earnings already facing a squeeze from higher wages and increased costs. Accounting rule changes to how firms can treat leases reduce...
Property
Goodman trust won't adopt new NZX rules for managed funds
By Jenny Ruth May 6 (BusinessDesk) - Goodman Property Trust’s manager says that it won’t be adopting new NZX rules for managed investment schemes but will remain subject to the rules applying to most other equity securities. That leaves the manager of the only other NZX-lis...
Law & Regulation
Jenny Ruth: CORRECT: The story behind the collapse of Allan Hubbard's financial empire
(Corrects details of Humphry Rolleston's sale of his company to Southbury in par 13) By Jenny Ruth May 6 (BusinessDesk) - Government officials wrongly decided after a flying visit to his Timaru headquarters that financier Allan Hubbard had stolen money from Aorangi Securiti...
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