Kathmandu lifts first-half profit 6.4%, beating guidance after cutting costs
By Paul McBeth March 21 (BusinessDesk) - Kathmandu Holdings lifted first-half profit 6.4 percent, just beating earnings guidance the outdoor equipment chain gave last month after clamping down on costs and exerting greater control over inventory. Net profit rose to $10 mil...
Commercial risk not govt's concern in major projects, PM English says
By Paul McBeth March 20 (BusinessDesk) - Cost overruns that push major building projects into the red aren't the government's concern, and it's instead focused on ensuring those builds are delivered on time and to budget, says Prime Minister Bill English. Speaking at his w...
UPDATE: Tenon shareholders back sale of Taupo mill, winding up
(Updates and recasts on voting result) By Paul McBeth March 20 (BusinessDesk) - Tenon shareholders have overwhelmingly backed plans to sell the firm's Taupo wood processing mill to a consortium of US and New Zealand investors and wind up the business. At a special meeti...
UPDATE: Fletcher shares tumble 12% as construction woes cut $110M from FY guidance
(Updates to add stock decline, adds reference to major projects) By Paul McBeth and Jonathan Underhill March 20 (BusinessDesk) - Fletcher Building shares tumbled 12 percent after the company cut its full-year earnings guidance by about $110 million because of complexity and...
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