Arvida posts underlying full-year profit that beats IPO forecast, sees further growth
By Sophie Boot May 25 (BusinessDesk) - Arvida Group, which operates 21 retirement villages and aged care facilities, reported annual earnings ahead of its prospectus forecast and said it was confident of further gains in 2017. Underlying profit, which Arvida has said it wil...
Comvita to beef up honey supply in new joint venture
By Sophie Boot May 25 (BusinessDesk) - New Zealand manuka honey products maker Comvita is linking up with Blenheim-based apiary operator Putake Group to form a South Island-based honey business to meet global demand for manuka honey. The companies have signed a memorandum...
MARKET CLOSE: NZ shares drop, Tower and Air NZ fall, Kathmandu gains
By Sophie Boot May 24 (BusinessDesk) - New Zealand shares fell as Tower tumbled after reporting a wider full-year loss and Air New Zealand dropped to an 18-month low while Kathmandu Holdings recovered on optimism a cold snap across the country will boost sales of winter clothi...
Weldon, Clear's former owners had 'battle of wills' after acquisition, witness says
By Sophie Boot May 24 (BusinessDesk) - There was a "battle of wills" over spending on the Clear Grain Exchange between former NZX chief Mark Weldon and the trading platform's former owners after NZX acquired the business in 2009, Wellington's High Court has heard. In the 17...
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