Tag Archives: NZ Companies Index

Tony Falkenstein, founder and majority owner of Just Water International, will take over as head of the water cooler and supplies business after chief executive Ian Ormiston resigned. Falkenstein will take up the role of managing director to replace the outgoing Ormiston, as the Auckland-based company makes plans to de-list from the NZX once the founder’s takeover is complete, it said in a statement. Through …

AGM  Rangatira, the Wellington-based investor that is adding the Rainbow’s End theme park to its portfolio, reported a 39 percent decline in first-half earnings, reflecting the ‘lumpy’ timing of work at its half-owned Contract Resources. Profit fell to $3 million in the six months ended Sept. 30, from $4.4 million a year earlier, the company said in a statement. It …

AGM  Pyne Gould Corp, which sold its corporate trust unit September, is seeking returns of more than 15 percent over the next decade and doesn’t expect to ever pay dividends, according to chairman Bryan Mogridge. The company, 77 percent owned by managing director George Kerr, expects to sell its Perpetual trust and wealth management units before the year’s end, leaving …

Fletcher Building, the biggest company on the NZX, expects operating earnings to grow by as much as 22 percent in the 2013 financial year as new home construction accelerates and the firm keeps a lid on costs. The shares rose to $7.65, their highest level since October last year. The Auckland-based company sees operating earnings of between $560 million and …

A quiet clean-out of the Solid Energy board has begun, with two resignations by directors filed with the Companies Office this week and the appointment of an experienced Australian mining expert, Neville Sneddon, to the board. Deputy chairman John Fletcher, who has served on the Solid Energy board since May 2007, has resigned with six months still to run on …

Updated  On the day Fisher and Paykel was sold overseas Rakon outsourced high-paying jobs to Asia, marking a dark day for Kiwi high-tech manufacturing, says Labour’s Economic Development spokesperson David Cunliffe. “Today New Zealand technology manufacturing lost an icon and 60 good jobs overseas. It’s a dark day for high-tech manufacturing and exports in New Zealand. “New Zealand has lost …