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Steel & Tube forecasts drop in first-half earnings on inventory writedown
By Jonathan Underhill Nov. 16 (BusinessDesk) - Steel & Tube Holdings' first-half earnings may fall as much as 38 percent reflecting a writedown of inventory, restructuring costs and margin pressures. The guidance comes as the company holds its annual meeting in Wellington....
Rakon turns to 1H profit; reiterates full-year profit forecast
By Tina Morrison Nov. 16 (BusinessDesk) - Rakon turned to a first-half profit from a loss a year earlier, citing growth across the technology company's key markets, improved margins and lower costs. The Auckland-based company posted a profit of $908,000, or 0.4 cents per sh...
Regulator gives provisional thumbs up to Powerco price hike for $1.27 bln upgrade
By Paul McBeth Nov. 16 (BusinessDesk) - The Commerce Commission has given the early all-clear for lines company Powerco to raise prices to fund a $1.27 billion upgrade of its network over the next five years. The regulator's draft ruling today would let the New Plymouth-bas...
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