Sharemarket News

Xero posts $14.4 mln FY loss, doubles revenue and paying customers
23 May, 4:00pm
Xero, the cloud-based accounting firm, widened its annual loss in line with is guidance while using cash reserves to double revenue and paying customers... More »

Veolia Transport, Auckland rail operator, almost doubles FY profit after inking new contract
23 May, 2:35pm
Veolia Transport Auckland, which runs the city's urban passenger trains, almost doubled its annual profit last year after it changed the way it does business... More »

F and P Healthcare shares jump to highest in more than 2 years on profit outlook
23 May, 1:50pm
Shares in Fisher & Paykel Healthcare jumped to their highest in more than two years as the maker of breathing masks and respirators said it expects to beat analyst estimates for 2014 profit after surpassing its own guidance for 2013... More »

James Hardie makes no provision on NZ Education Ministry's leaky school claim
23 May, 1:45pm
James Hardie Industries, the Australian building materials firm, hasn't made a provision for the New Zealand Ministry of Education's $1.5 billion suit over 300 leaky buildings, saying it hasn't worked out what loss, if any, it may face... More »

Bathurst gets nod for DoC access to Denniston mine
23 May, 1:35pm
Conservation Minister Nick Smith has approved access over conservation estate land for Bathurst Resources to develop an open cast coal mine on the Denniston Plateau, above Westport, to the dismay of environmental opponents... More »

No savings this year for Rakon's manufacturing shift to China, grand plan coming in July
23 May, 1:15pm
Rakon, which makes crystal oscillators used in smart phones and navigation systems, doesn't expect dividends from its decision to shift its local manufacturing to China this year, but is promising investors will get a better steer on its fortunes in a Jul... More »

Fronde mulls capital raising for Australian push as FY profit more than doubles
23 May, 1:00pm
Fronde Systems Group, a Wellington-based software and cloud-based services developer, is considering an equity raising to fund a bigger push into Australia after more than doubling annual profit... More »

GPG pension headache puts brake on wind-down plan
23 May, 11:05am
Guinness Peat Group will have to keep on more staff than previously planned as it works with the UK regulator over its liability for the Coats pension schemes... More »

F and P Healthcare beats 2013 guidance, forecasts boost in 2014 profit; shares gain to 2 1/2 year high
23 May, 10:15am
Fisher & Paykel Healthcare, which makes breathing masks and respirators, expects to beat analyst expectations for 2014 profit as it surpassed its own guidance for 2013 profit today as a result of revenue growth, improved gross margins and operating ef... More »

DNZ Property sells $60M of shares to institutions at 1.8 percent discount
23 May, 10:10am
DNZ Property Fund, which reported a 14 percent decline in annual distributable earnings yesterday, completed its $60 million placement to institutional investors at a 1.8 percent discount... More »

Rakon plunges deeper into the red on writedowns; shares tumble 8 percent
23 May, 10:05am
Rakon, which makes crystal oscillators used in smart phones and navigation systems, plunged deeper into the red after writing down the value of its Chinese and New Zealand units, and posting underlying earnings at the bottom of its twice-downgraded guidan... More »

Comvita FY profit falls 10 percent , beating guidance, on honey shortage, rising costs
23 May, 10:00am
Comvita, which produces health products from manuka honey and olive leaves, posted a 10 percent decline in full-year profit, beating its own guidance as it coped with a shortage of honey and higher costs... More »

Argosy lifts FY profit after year-earlier charges, property income falls
23 May, 9:55am
Argosy Property reported a jump in full-year profit after earnings in the previous year were eroded by the costs of internalising its management contract. Net property income fell 1.8 percent... More »

NZ dollar declines after Bernanke says Fed may taper QE on signs of sustained improvement
23 May, 8:40am
The New Zealand dollar fell after US Federal Reserve Chairman Ben Bernanke said the central bank may taper monthly bond purchases at its next few meetings if it's confident of sustained gains in the economy... More »

While you were sleeping Fed opens taper door
23 May, 7:55am
US stocks and bonds fell, both giving up earlier gains, after Federal Reserve chief Ben Bernanke suggested the central bank might scale back stimulus measures as early as at its next meeting... More »

Ecoya changes name to Trilogy as skincare range trumps scented candles
22 May, 3:45pm
Ecoya, which counts the Bakery Business LP as its biggest shareholder, has changed its name to Trilogy International as the skincare range it bought in 2010 dominates sales over its scented candle business and is seen as the driving force the company... More »

Property For Industry merger with Direct Property Fund is fair, advisers say
22 May, 3:35pm
Property For Industry's proposed merger with Direct Property Fund to create an $800 million industrial property empire is fair, according to independent appraisals released today... More »

NZ Post sees no impact on debt on issue from S and P lowering rating outlook
22 May, 11:40am
New Zealand Post, the state-owned postal service, says Standard & Poor's move to lower the outlook on its A+ credit rating won't affect debt on issue or create any problems for its financing activities... More »

DNZ annual earnings fall 14 percent, signals $80M capital raising for new acquisitions
22 May, 10:50am
DNZ Property Fund, a diversified property investor, reported a 14 percent fall in annual earnings and plans to raise $80 million in a placement to institutional investors and a share purchase plan to help pay for two new acquisitions... More »

Vodafone NZ loses mobile customers for 9th straight quarter
22 May, 10:25am
Vodafone New Zealand, which bought phone company TelstraClear for $840 million last year, lost a net 7,000 mobile customers in the first three months of the year, its ninth straight quarterly decline... More »