The latest from Tina Morrison

News, opinion and analysis by Tina Morrison

NZ merino prices jump as Australian drought dents supply of luxury fibre
Tina Morrison | Fri, 28 Sep 2018

By Tina Morrison Sept. 28 (BusinessDesk) - New Zealand merino wool prices are being pushed up as drought in Australia prompt farmers across the Tasman to cull stock, reducing the amount of the fine premium wool available for sale. Eighteen-micron Merino wool, considered a b...

Hallenstein Glasson annual profit jumps 58%; shares gain
Tina Morrison | Thu, 27 Sep 2018

By Tina Morrison Sept. 28 (BusinessDesk) - Hallenstein Glasson Holdings confirmed annual profit rose 58 percent as expected, and said sales at Glassons and Hallenstein Brothers clothing chains lifted 7.2 percent in the first eight weeks of this financial year as the retailer f...

Stats NZ seeks public views on new law enabling wider collection of data
Tina Morrison | Thu, 27 Sep 2018

By Tina Morrison Sept. 27 (BusinessDesk) - Stats NZ, the country's official data agency, has released a public discussion document seeking views on an update to its 1975 governing law, which Statistics Minister James Shaw notes is no longer fit for purpose. "Legislation dat...

NZ export log market hurt by US trade war with China
Tina Morrison | Wed, 26 Sep 2018

By Tina Morrison Sept. 27 (BusinessDesk) - New Zealand's export log market took a hit from the trade dispute between the US and China as the declining value of the yuan crimps the buying power of the country's largest log market. The average price for New Zealand A-grade ex...

RESEND: MacPherson aims to unleash the power of data at Stats NZ
Tina Morrison | Wed, 26 Sep 2018

(Clarifies that the IDI unit hasn't had a data breach in 21st paragraph) By Tina Morrison Sept. 26 (BusinessDesk) - The head of New Zealand’s statistics agency is determined to realise the agency’s vision to unleash the power of data to change lives as she embarks on her se...

NZ posts record monthly trade deficit in August on higher imported fuel costs
Tina Morrison | Tue, 25 Sep 2018

By Tina Morrison Sept. 26 (BusinessDesk) - Higher fuel costs helped propel New Zealand imports to near record levels in August, contributing to the largest ever monthly goods trade deficit. The country had a $1.5 billion trade deficit in August, bigger than the $1 billion a...

Annual migration slows as departures increase; tourism hits record
Tina Morrison | Fri, 21 Sep 2018

By Tina Morrison Sept. 21 (BusinessDesk) - New Zealand's annual net migration continues to weaken from its peak last year as more people leave our shores. Net migration slowed to 63,288 in the year to the end of August, from 72,072 a year earlier. it was the lowest level fo...

Restaurant Brands 2Q sales lift 12% on international expansion
Tina Morrison | Wed, 19 Sep 2018

By Tina Morrison Sept. 20 (BusinessDesk) - Restaurant Brands New Zealand lifted second-quarter sales as the fast-food operator's expansion to Australia and Hawaii brought in more cash. Sales increased 12 percent to $251 million in the 16 weeks ended Sept. 10, the company sa...

UPDATE: Synlait Milk almost doubles annual profit on high value product growth
Tina Morrison | Wed, 19 Sep 2018

(Adds outlook comments from 8th paragraph, updates shares.) By Tina Morrison Sept. 19 (BusinessDesk) - Synlait Milk, the best performing stock on the benchmark NZX index this year, almost doubled annual profit and lifted its margins while outlining plans for further expansi...

NZ services sector slows in August
Tina Morrison | Mon, 17 Sep 2018

By Tina Morrison Sept. 17 (BusinessDesk) - Activity in New Zealand's services sector, which accounts for about two-thirds of the economy, slowed below its long-term average in August. The BNZ-Business New Zealand performance of services index fell to a seasonally adjusted 5...

NZ crane activity hits record amid construction boom, RLB says
Tina Morrison | Fri, 14 Sep 2018

By Tina Morrison Sept. 15 (BusinessDesk) - New Zealand has a record number of cranes operating across city skylines as the country experiences a construction boom, according to the latest RLB Crane Index. The bi-annual index rose to a record 184 in the third quarter of 2018...

NZ sheep & beef farm profits forecast to slip as expenses rise
Tina Morrison | Thu, 13 Sep 2018

By Tina Morrison Sept. 14 (BusinessDesk) - New Zealand sheep and beef farm profits are expected to decline in the coming year as higher spending outweighs a lift in revenue from the products they sell. The average farm is expected to earn a pre-tax profit of $129,700 in the...

NZ food prices fall in August as good growing conditions lower the cost of broccoli
Tina Morrison | Wed, 12 Sep 2018

By Tina Morrison Sept. 13 (BusinessDesk) -  New Zealand's food prices fell in August as good growing conditions brought down the price of broccoli. Statistics New Zealand said food prices dropped 0.5 percent in August, and were down 0.8 percent after seasonal adjustment. Th...

PharmaZen posts record 1H profit; reaps benefit from investments
Tina Morrison | Tue, 11 Sep 2018

By Tina Morrison Sept. 12 (BusinessDesk) - PharmaZen, a manufacturer of plant and animal-based health supplements, turned to a record first-half profit as it reaped the benefit of earlier investments. Earnings before interest, tax and depreciation jumped by more than $1 mil...

F&P Healthcare files patent complaint against rival ResMed; earnings outlook unchanged
Tina Morrison | Mon, 10 Sep 2018

By Tina Morrison Sept. 11 (BusinessDesk) - Fisher & Paykel Healthcare has filed a complaint against its rival ResMed, alleging some of ResMed's masks used to treat obstructive sleep apnea infringe its patents. Auckland-based F&P Healthcare said it has filed a complaint with...

ProTen lifts annual earnings 31% ahead of A$211M takeover vote
Tina Morrison | Sun, 09 Sep 2018

By Tina Morrison Sept. 10 (BusinessDesk) - ProTen, Australia’s largest independent contract grower of broiler chickens for meat, increased annual earnings 31 percent ahead of next month's vote on a A$211 million takeover offer. The Sydney-based company lifted normalised ear...

Reserve Bank's Orr laments 'short-termism'; spruiks NZ as global leader for change
Tina Morrison | Thu, 06 Sep 2018

By Tina Morrison Sept. 7 (BusinessDesk) - Reserve Bank governor Adrian Orr lamented the dominance of short-term thinking in his first public speech since taking over as head of the central bank in March. "I summarise the key plague on economic society as ‘short-termism’. Th...

Macquarie sells 15.6% stake in Oceania Healthcare for $104.5M
Tina Morrison | Wed, 05 Sep 2018

By Tina Morrison Sept. 6 (BusinessDesk) - Oceania Healthcare's cornerstone shareholder Macquarie Group sold a 15.6 percent stake in the aged care and retirement village operator for $104.5 million, reducing its holding to 41.7 percent. Oceania Healthcare Holdings Ltd, the i...

Zespri forecasts jump in annual profit as it seeks to maintain value in 'challenging' market
Tina Morrison | Wed, 05 Sep 2018

By Tina Morrison Sept. 5 (BusinessDesk) - Zespri Group, the country's kiwifruit export marketing body, expects profit to surge higher in the coming year as it grows volumes and seeks to maintain values in "challenging" markets with higher volumes of low-priced fruit. The Mo...

Oceania Healthcare cornerstone shareholder Macquarie selling 15.6% stake
Tina Morrison | Tue, 04 Sep 2018

By Tina Morrison Sept. 5 (BusinessDesk) - Oceania Healthcare's cornerstone shareholder Macquarie Group is selling down some of its shares for $102.6 million after restrictions on their sale were lifted in July. Shares of the aged care and retirement village operator were ha...

NZ new vehicle sales hit a high for August, on track for record year
Tina Morrison | Mon, 03 Sep 2018

By Tina Morrison Sept. 4 (BusinessDesk) - New Zealand new vehicle sales reached a record in August, keeping volumes on track to hit their highest ever level this year. New vehicle registrations increased 1 percent to 13,200 in August from the same month a year earlier, nudg...

Restaurant Brands exits Starbucks Coffee chain, sells assets to local buyer for $4.4M
Tina Morrison | Sun, 02 Sep 2018

By Tina Morrison Sept. 3 (BusinessDesk) - Restaurant Brands New Zealand is exiting its Starbucks coffee business after two decades of operation after the US brand failed to take off as anticipated. It's selling the fixed assets of the chain for up to $4.4 million to local hosp...

RESEND: Sky TV turns to a $240.7M annual loss after $360M writedown
Tina Morrison | Fri, 24 Aug 2018

(Removes repeated paragraph) By Tina Morrison Aug. 24 (BusinessDesk) - Sky Network Television, which has been grappling with a loss of subscribers to online rivals, wrote down its value by $360 million at the end of its financial year, resulting in a $240.7 million annual l...


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