Primary Sector
Explore the latest primary industry news by BusinessDesk.
Fonterra's profit warning increases importance of asset sales - Fitch
By Rebecca Howard May 24 (BusinessDesk) - Fonterra Co-operative Group's profit downgrade doesn't impact its rating but increases the importance of its asset sales, Fitch Ratings says. Fonterra yesterday cited "heightened risks" in the fourth quarter to the co-op’s previous...
UPDATE: Fonterra says more assets under review as it cuts guidance, narrows forecast payout
(Adds detail throughout, comment from economist on payout forecast) By Rebecca Howard May 23 (BusinessDesk) - Fonterra Cooperative Group narrowed the range for its forecast payout to farmers this season, cut its earnings guidance and says it may sell more assets as it sli...
Retail
Zespri annual profit jumps 77% on higher kiwifruit sales, increased licensing
By Paul McBeth May 23 (BusinessDesk) - Zespri Group says annual profit rose 77 percent as the fruit export marketer benefited from growing global sales of kiwifruit and bigger fees from the licensing of the SunGold variety. The firm, which markets kiwifruit on behalf of 2,...
Sanford earnings hit by vessel impact from crew death
By Gavin Evans May 23 (BusinessDesk) - Fishing company Sanford reported an 8 percent decline in first-half operating earnings after the death of a crew member kept one of its deep water vessels in port for three months. The company today reported adjusted earnings before in...
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Riley Kennedy
Journalist
Riley was the New Zealand Shareholders Association emerging journalist of the year in 2022. His journalism experience includes more than a year as a business specialist at the Otago Daily Times. He has a diploma in journalism from Wintec.
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