Services
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Infrastructure
Wellington Airport lifts annual earnings on passenger growth
By Paul McBeth May 16 (BusinessDesk) - Wellington International Airport lifted annual earnings 6.3 percent as the capital city's gateway continued to benefit from rising passenger numbers. Earnings before interest, tax, depreciation and amortisation rose to $101.4 million...
Markets
Rangatira to up Magritek stake; seeks Hellers replacements
By Gavin Evans May 16 (BusinessDesk) - Rangatira Investments plans to increase its holding in research technology business Magritek as it deploys funds from the sale of its interest in smallgoods maker Hellers. The Wellington-based investment company expects to buy Massey U...
Finance
Kiwibank to ditch cheques in February 2020
By Nikki Mandow May 16 (BusinessDesk) - When Kiwibank CEO Steve Jurkovich stands up to address the Grey Power annual meeting next week, he might want to wear his bulletproof vest. That’s the advice from national president Mac Welch, reacting to today’s announcement from Kiw...
Markets
Xero reports positive free cash flow for 2019, loses $27.1M
By Jenny Ruth May 16 (BusinessDesk) - Accounting software company Xero widened its annual loss while growing operating revenue 36 percent and subscriber numbers by 31 percent. Xero reported a $27.1 million net loss for the 12 months ended March, up from the previous year’s...
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