Smiths City first-half profit slides 46% on restructuring costs, year-earlier asset sale not repeated
By Paul McBeth Dec. 20 (BusinessDesk) - Smiths City Group, the appliance and furniture retailer, reported a 46 percent drop in first-half profit as it faced new restructuring costs and a year-earlier gain on its Colombo St store wasn't repeated, even as underlying earnings and...
Cooperative Bank boss Bruce McLachlan to go early next year
By Paul McBeth Dec. 20 (BusinessDesk) - Cooperative Bank chief executive Bruce McLachlan will leave the lender early next year after choosing to take a new leadership position with another New Zealand business. The details of the exit are being worked out and McLachlan wil...
AFT sees upside from Australian plans to restrict codeine sales
By Rebecca Howard Dec. 20 (BusinessDesk) – New Zealand’s AFT Pharmaceuticals expects to benefit from news that all medicines containing codeine will be prescription-only in Australia from Feb. 1, 2018. Australia’s medicine’s watchdog, the Therapeutic Goods Administration or...
UPDATE: Rakon shares hit 7-month high as Taiwan's Siward takes cornerstone stake
By Paul McBeth Dec. 20 (BusinessDesk) - (Updates recasts on share price, adds broker comment) Rakon shares hit their highest level in seven months after the high-tech components maker said it will raise US$10 million from Taiwan's Siward Crystal Technology, selling shares a...
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