New Talisman starts life with $9.2m in funds
Wed, 30 May 2012
May 30 (BusinessDesk) - New Talisman Gold Mines, the gold miner formerly known as Heritage Gold, is starting out with $9.24 million in equity as it prepares to develop the Talisman gold prospect on th...
Sealegs narrows FY loss on rising sales, lower marketing spend
Wed, 30 May 2012
By Paul McBeth May 30 (BusinessDesk) - Sealegs Corp, which makes amphibious boats, halved its annual loss after boosting sales by more than a third and embarking on a restructuring programme that sla...
Ecoya posts maiden annual operating profit
Wed, 30 May 2012
May 30 (BusinessDesk) - Scented candle and skincare products company Ecoya said it made a maiden annual operating profit after sales jumped 58 percent. Profit after interest costs but before tax and...
Ageing kiwis, outward migration threat to rural areas, not Auckland, NZIER says
Wed, 30 May 2012
By Paul McBeth May 30 (BusinessDesk) - Rural New Zealand is likely to disproportionately suffer the consequences of the country's ageing population and outward migration through a loss of skilled and...
NZ residential building issuance slows in April, Auckland demand increases
Tue, 29 May 2012
By Paul McBeth May 30 (BusinessDesk) - The pace of New Zealand residential building issuance slowed last month, even as demand increased for new housing in the country's biggest city, Auckland. Bui...
Kiwi credit check firm, Veda, spreading wings in Arabian Gulf
Tue, 29 May 2012
By Pattrick Smellie May 30 (BusinessDesk) - Auckland-based credit check bureau Veda is chasing opportunities in the Gulf states, with the announcement of a joint venture in Dubai with Saudi Arabian b...
Restaurant Brands' Q4 sales fell 2.7%, same-store sales down 3.7%
Tue, 29 May 2012
By Hannah Lynch May 30 (BusinessDesk) - Restaurant Brands, which operates the local Pizza Hut, KFC and Starbucks brands, reported first-quarter sales fell 2.7 percent, reflecting the success of KFC's...
Mainfreight posts record FY profit on NZ, Australia as Wim Bosman disappoints
Tue, 29 May 2012
By Jonathan Underhill May 30 (BusinessDesk) - Mainfreight, the biggest road transport company on the NZX 50 Index, posted record annual sales and profit on growth in New Zealand and Australia, while...
Fonterra mulls Dutch factory investment in whey, cheese partnership
Tue, 29 May 2012
By May 30 (BusinessDesk) - Fonterra Cooperative Group, the world's biggest dairy exporter, is looking at signing a deal with Netherlands-based A-Ware Food Group to set up a new European cheese and...
NZ dollar gains vs euro amid fears Spain will seek a regional bailout for its banks
Tue, 29 May 2012
By Hannah Lynch May 30 (BusinessDesk) - The New Zealand dollar rose against the euro after Spain backtracked on its recapitalisation plan for the recently nationalised Bankia SA, stoking fears the na...
Scales raises $25.2 mln to refinance blocking stake in Turners & Growers, mulls Enza merger
Tue, 29 May 2012
By Paul McBeth May 29 (BusinessDesk) - Scales Corp has raised $25.2 million in a rights issue to repay funds borrowed to build a blocking stake in Turners & Growers and says it would consider a merge...
NZRU re-signs five All Blacks sponsors in bid to break even next financial year
Tue, 29 May 2012
By Paul McBeth May 29 (BusinessDesk) - The New Zealand Rugby Union re-signed five sponsors for the All Blacks as it strives to balance the books next year and extract more value from the team’s brand...