Sharemarket News

IAG's NZ business posts 7.4% drop in full-year earnings on natural disaster claims
23 Aug, 12:37pm
Insurance Australia Group's New Zealand division recorded a 7.4 percent decline in insurance earnings reflecting increased claims as a result of natural disasters such as the Kaikoura earthquake last November, higher working claim costs and challenging co... More »

Pre-election peek into Crown books shows bigger 2017 surplus, smaller ones later
23 Aug, 12:13pm
The government's pre-election books show a bigger surplus for the 2017 financial year, largely at the expense of out-years, but Finance Minister Steven Joyce doesn't see room to splash out until around 2020... More »

Countdown 2017 profit falls on more expensive dairy, earthquake costs
23 Aug, 11:09am
Woolworths' Countdown supermarket chain in New Zealand had a 1.4 percent decline in annual profit despite margins rising, with dairy and fresh produce costing more along with uninsured losses related to the November 2016 earthquake... More »

A2 Milk triples annual profit, mulls special dividend; stock jumps to record
23 Aug, 10:19am
A2 Milk, which markets milk with a protein variant said to have health benefits, tripled its annual profit and said it would use some of its accumulated cash to buy back shares, and may pay a special dividend... More »

UPDATE: Air New Zealand annual earnings fall 21% in competitive market, hikes dividend
23 Aug, 10:18am
(Recasts to add market reaction, adds detail throughout, analyst comment, updates shares)... More »

Genoapay founder gets $1M infusion, aims to build disruptive $1B payment platform
23 Aug, 9:44am
Genoapay founder Shaun Quincey has attracted $1 million of funding from an accelerator programme co-funded by Callaghan Innovation but says he's intent on building his instalment payment platform into a $1 billion business... More »

SLI changes strategy as retailers resist multiple e-commerce implementations, costs
23 Aug, 9:32am
Christchurch-based e-commerce accelerator SLI Systems is undertaking a major change in sales strategy as it battles for market share among retailers whom it says are increasingly resisting the costs and logistics of deploying numerous technologies at once... More »

FIRST CUT: Air New Zealand annual earnings fall 21% in competitive market, hikes dividend
23 Aug, 9:07am
Air New Zealand's full year earnings fell 21 percent in an increasingly competitive market but were still the second highest ever as the airline continues to benefit from lower jet fuel prices and the country's ongoing tourism boom... More »

Vero to appeal regulator's rejection of Tower takeover
23 Aug, 8:50am
Suncorp Group's Vero Insurance unit will appeal the Commerce Commission's rejection of its $236 million takeover bid for Tower, and has the backing of the NZX-listed general insurer's board... More »

NZ dollar falls as greenback gains ahead of Jackson Hole summit, Prefu looms
23 Aug, 8:49am
The New Zealand dollar fell ahead of the pre-election fiscal and economic update this morning and as the greenback gained before the annual central banking conference in Jackson Hole, Wyoming later this week... More »

While you were sleeping: Renewed hope on US tax reform
23 Aug, 8:20am
Wall Street climbed amid reports that the Trump administration is making headway on a tax reform plan... More »

MARKET CLOSE: NZ shares mixed, Comvita up while Sky TV hits low, Mercury and Genesis report
22 Aug, 5:41pm
New Zealand shares were mixed, with Comvita rallying on positive earnings while Sky Network Television hit an 8-and-a-half year low... More »

NZ dollar clings to tight range as markets await central bankers symposium
22 Aug, 5:40pm
The New Zealand dollar clung to a tight range as investors await any comments out of the annual central banking conference in Jackson Hole, Wyoming later this week. ... More »

UPDATE: Tourism Holdings shares at record on profit growth; CEO pleased but 'far from complacent'
22 Aug, 3:45pm
Tourism Holding's shares gained after the company reported stronger earnings this morning, and while chief executive Grant Webster is optimistic about future growth, he says he's "far from complacent"... More »

UPDATE: Genesis Energy rebrands, doubles profit from EnergyonLine
22 Aug, 3:40pm
Genesis Energy has quietly launched a new brand identity at the same time as it released today's earnings results for the year to June 30 as the country's largest electricity provider by customer numbers seeks to enable customer control of energy use thro... More »

Kiwibank chief Paul Brock to depart at the end of the year
22 Aug, 1:46pm
Kiwbank chief executive Paul Brock will leave the state-owned lender at the end of the year, ending seven years in charge of the country's fifth biggest bank... More »

UPDATE: Comvita shares climb as annual earnings beat guidance, outlook improves
22 Aug, 12:37pm
(Recasts lede to include market reaction, adds comment from chief executive, analyst, updates share price)... More »

Greencross (GXL.ASX) makes 'aggressive' inroads into NZ pet market, boosting local sales 21%
22 Aug, 11:57am
Australia pet care company Greencross made inroads on this side of the Tasman by buying up veterinary clinics and opening retail outlets, boosting New Zealand sales by more than a fifth... More »

Ingham's posts 2.5% gain in FY earnings in NZ, cites improved trading from second half
22 Aug, 11:25am
Ingham's Group, which is the number two poultry producer in New Zealand behind Tegel Group, reported a 2.5 percent gain in New Zealand earnings, saying trading improved in the second half after a weak first half and the trend has continued into the 2018 y... More »

Comvita beats earnings guidance, upbeat about FY18
22 Aug, 10:05am
Comvita said poor weather conditions and the slowdown in demand from small exporters who ship goods informally to China weighed on its annual result, although a second half improvement meant it was slightly better than forecast and the manuka honey compan... More »