MARKET CLOSE: NZ shares fall as more Commercial Bay delays weigh on Fletcher, Precinct
By Paul McBeth May 29 (BusinessDesk) - New Zealand shares fell, with Fletcher Building and Precinct Properties New Zealand under pressure on news the Commercial Bay development is running behind schedule and facing more cost overruns. The S&P/NZX 50 Index decreased 26.85 p...
Asset Plus profit gains on cheaper operating costs, interest bill
By Paul McBeth May 29 (BusinessDesk) - Asset Plus lifted its annual profit as its external management contract with Augusta Capital and a smaller debt load helped cut costs. The property investor is repositioning its portfolio under the new oversight of Augusta, with a vie...
Turners may shed Oxford Finance, EC Credit in bid to simplify business
By Paul McBeth May 29 (BusinessDesk) - Turners Automotive Group may sell its Oxford Finance and EC Credit debt collection units as it attempts to streamline the business. It has already ditched the Buy Right Cars brand at a cost of $4.3 million. That brand write-off led to...
Stride sees flat dividend for another year as profit falls on smaller revaluation gain
By Paul McBeth May 29 (BusinessDesk) - Stride Property Group posted a 20 percent drop in annual profit due to a smaller property revaluation gain. It expects to pay a flat dividend for another year as it continues with a new strategy of managing other people's properties as we...
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