Kiwibank first-half profit sinks 32% as IT costs mount
By Paul McBeth Feb. 23 (BusinessDesk) - Kiwi Group Holdings, the parent of Kiwibank, Kiwi Wealth and Kiwi Insurance, posted a 32 percent slide in first-half profit as the country's fifth-biggest lender bore escalating costs of a dud IT project that's already been written down...
NZ Post pays $2.5M interim dividend while warning year-end targets will be 'challenging'
By Paul McBeth Feb. 23 (BusinessDesk) - New Zealand Post will pay its government shareholder a $2.5 million interim dividend next month, despite warning its year-end financial targets will be a stretch as the core mail delivery operates at a loss and it derives a smaller earni...
Steel & Tube first-half profit drops 64% on inventory writedown, restructuring costs
By Paul McBeth Feb. 23 (BusinessDesk) - Steel & Tube posted a 64 percent decline in first-half profit as the steel products maker wrote down the value of inventory and bore the cost of restructuring the business, which it anticipates will lead to improved earnings over the nex...
NZ dollar follows Wall Street, commodities higher as investors reassess US rate track
By Paul McBeth Feb. 23 (BusinessDesk) - The New Zealand dollar gained, following stocks on Wall Street and commodity prices higher as investors bet the Federal Reserve will stick to three rate hikes this year, based on the tone of its last policy meeting minutes. The kiwi r...
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