ASB first-half profit rises 7% on lending, funds management, while loan impairments increase
By Fiona Rotherham Feb. 10 (BusinessDesk) - ASB Bank reported a 7 percent rise in first-half statutory net profit to $474 million following growth in funds management and lending while the amount set aside for loan impairments gained 11 percent. The bank, which is owned by...
Apple NZ boosts 2015 earnings while deferring $8.3M in tax against future profits
By Fiona Rotherham Feb. 9 (BusinessDesk) - Apple Sales New Zealand, the local unit of the iPhone and iPad maker, has increased annual profit by 17 percent while deferring $8.3 million of tax to offset against future profits and potentially lower its 2016 tax bill. Profit wa...
Benefits of Chow property deal in reverse takeover of RIS outweigh negatives, independent adviser says
By Fiona Rotherham Feb. 9 (BusinessDesk) - An independent adviser’s report gives the thumbs up to a proposed backdoor listing of a company owned by Wellington property developers and brothel owners John and Michael Chow despite existing shareholders of the shell company RIS Gr...
Fonterra offers payout to organic farmers based on market returns, a first for the cooperative
By Fiona Rotherham Feb. 5 (BusinessDesk) - Fonterra Cooperative Group is for the first time offering its organic dairy farmers a payout based on market returns in a bid to boost organic supply as competition and consumer demand increase. It’s the third time in a year the co...
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