Economy
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Primary Sector
South Port cuts guidance on forestry export ban
South Port New Zealand said reduced cargo and increased costs from covid-19 health protocols may mean the company misses the reduced earnings guidance it provided six weeks ago.The operator of the Bluff port last month said June-year profit could fall to between $8.2 million and...
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Billions in property sales on ice: could lead to defaults
More than $200 million in daily residential property sales have been shelved until the end of April as buyers and sellers sit out the four-week covid-19 shutdown period.Latest estimates by the Real Estate Institute of New Zealand are that around 5,800 residential deals, worth som...
Finance
ASB gives Smiths City space to fix capital structure
Smiths City has another four weeks to make its next payment to lender ASB Bank as it tries to find a new capital structure that works for the retail chain and financier.The shares sank 13.8 percent, or 2.4 cents, to an all-time low 15 cents when they resumed trading today, albeit...
Services
Abano takeover scrapped as clinics closed; shares drop 13.9%
The takeover of Abano Healthcare has been scrapped and the company has now closed all its Australian dental clinics due to the covid-19 outbreak.Abano shares are down 32 cents, or 13.9 percent, at $1.99 and have dropped 61.7 percent year to date.The fight against the covid-19 vir...
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Pattrick Smellie
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Pattrick was judged New Zealand's best overall columnist and business columnist of the year at the Voyager 2021 Media Awards. He has more than 35 years’ experience reporting and working in New Zealand politics and the commercial sector. A former Press Gallery chairman, he is an award-winning journalist and has worked for titles including The Dominion, The Press, Sunday Star-Times and National Business Review. He was the first NZ correspondent for The Australian and co-founded BusinessDesk in 2008.
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