Retail
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CORRECT: Cavalier Corp shares fall 16% as it announces write-down
(Corrects to clarify forecast excludes the non-cash items in paragraph eight) By Rebecca Howard Aug. 22 (BusinessDesk) - Cavalier Corp shares fell 16 percent after it announced plans to write-down or impair the value of goodwill and various plant and equipment by as much a...
Infrastructure
NZ Steel earnings fall on weaker prices, higher costs
By Gavin Evans Aug. 19 (BusinessDesk) - BlueScope Steel’s New Zealand business reported a 28 percent drop full-year operating earnings due to higher input costs and a drop in prices for export steel and vanadium. Sales revenue for the business, which includes BlueScope’s Pa...
Michael Hill underlying earnings fall 14% as margins squeezed
By Rebecca Howard Aug. 16 (BusinessDesk) - Michael Hill International reported a slide in underlying earnings as margins were squeezed in a competitive retail environment. The Brisbane-based company, which also operates stores in New Zealand and Canada, said underlying earn...
Infrastructure
Slowing new car market sees Kiwis squeezing more out of ageing fleet
By Paul McBeth Aug. 16 (BusinessDesk) - The slowing market for new car sales has weighed on dealers' earnings but has been a boon for the likes of Super Cheap Auto as people try to get more out of their ageing vehicles. Motor Industry Association data show new car registrat...
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