Friday 1st August 2003
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Trans Tasman Properties bought another 52ha of land next to its Airpark business centre adjacent to Auckland Airport for an undisclosed sum. TTP plans to start developing the business-zoned land in the last quarter of this year.
Eldercare bounced back into the black with a $2 million May-year net profit, including a one-off $1 million gain from the sale of its Regent's Park property. Revenues of $57.8 million were up 44% and operational earnings were up 168% to $9.4 million.
Dairy Brands reported a $623,000 May-year loss after consolidating the acquisition of British business information company Hemscott, which lost £600,000 before tax in the June first half.
National Property Trust's May-year profit before unusuals and tax was $4 million, up a fraction from the previous year. A $253,000 surplus from property sales and $7.1 million of unrealised revaluations took the bottom-line profit to $12.7 million, from $2.7 million a year ago.
The Guardians of the New Zealand Superannuation Fund chose BNP Paribas as custodian after a competitive tender. The fund's strategic asset allocation will be announced on August 14.
The Crown will pay for and own the 155MW diesel-fired dry-year reserve power plant Contact Energy was planning for its Whirinaki site. Contact will build and operate it.
Ravensdown Fertiliser Co-operative posted a $61.8 million May-year profit and will distribute $52.2 million to shareholders through a rebate and bonus issue. The value of distribution is $34.60 a tonne.
Ballance Agri-Nutrients Co-operative reported a $47.2 million May-year profit. Distributions to shareholders will average $18.63 a tonne.
Nuplex Industries appealed to the High Court an Environment Court interim order to shut down parts of its East Tamaki waste processing site.
Rocom Wireless lost $578,000 in the June first half, compared with a $534,000 profit a year ago. The company said the loss was a result of "right-sizing" the business.
Five Telecom competitors asked the Commerce Commission to investigate local and cellular number portability.
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