Ngai Tahu launches review after poor year for honey and dairy units
A 76 percent plunge in annual profit for its commercial arm and challenging economic conditions has seen Ngai Tahu launch a wide-ranging review of its businesses. The South Island iwi posted a net profit of $37.5 million for the year ended June from $153.7 million the previou...
Inside Fletcher’s Chch justice precinct dispute
Evidence sworn in court details how Fletcher Building’s relationship with its partners on the $300 million Christchurch justice precinct soured as the project ran over time and budget. Fletcher is being sued by utilities contractor Electrix, which says while it was paid $21 milli...
ANZ moves to defeat Ross Asset class action early
A date has been set for the first legal hurdle for Ross Asset Management investors in their class action against the ANZ Bank. Five hundred investors have now signed up to the class action against ANZ, which alleges the bank breached its duties. The claim has been estimated at up...
Scott Tech open to acquisitions despite lacklustre year
A 20 percent drop in net profit for Scott Technology despite a 24 percent revenue lift is not enough to deter the automation specialist from continued expansion. Last week, the company said net profit for the 12 months to Aug. 31 fell from $10.7 million to $8.6 million, despite r...
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