Tag Archives: nz companies

The Inland Revenue Department is happy with lead provider Accenture to overhaul its 30-year-old information technology system in a major transformation of its business which so far is running under budget and on time. IRD commissioner Naomi Ferguson told Parliament’s finance and expenditure committee the government’s tax gatherer has spent $83 million to date on its business transformation programme, and …

Woosh Wireless’s financial statements have been tagged by its auditor as the internet service provider narrowed its annual loss by clamping down on costs to offset falling sales. The Auckland-based company narrowed its loss to $1.32 million in the year ended Aug. 31, from an earlier loss of $2.59 million it said in its financial statements lodged with the Companies Office. Sales fell 22 percent …

Restaurant Brands, New Zealand’s largest fast-food store operator, increased fourth-quarter sales by 19 percent as it benefited from an extra week’s trading, a better performance from its KFC fried chicken unit and the addition of Carl’s Jr. burger chain outlets. Sales at the stores rose to $92.8 million in the 13 weeks ended March 2, from $77.6 million in the year-earlier 12-week period, …

New Zealand’s listed companies beat earnings estimates on average in the latest results season, but still fell short of the bullish growth expectations built into stock prices, analysts say. Per-share earnings at the 42 companies followed by analysts at Forsyth Barr rose a median 3.5 percent, beating a forecast gain of 3.3 percent. Sales on that basis grew 7.4 percent versus a forecast 6.6 percent, while …

Seeka Kiwifruit Industries, the country’s biggest kiwifruit grower, doesn’t expect earnings to be materially affected by a fire that destroyed a shed at its Oakside post-harvest site in Tauranga, with insurance likely to cover the costs. The fire destroyed the shed and significantly affected a coolstore containing about 250,000 trays, though more detailed investigations are underway, the Te Puke-based company …

Woolworths has taken a near $28.3 million haircut on its investment in Warehouse Group after James Pascoe, the retail group owned by David and Anne Norman, bought the Australian supermarket chain’s stake in New Zealand’s largest listed retailer. James Pascoe paid $87.1 million to acquire Woolworths 30.55 million Warehouse shares at $2.85 a piece in an off-market sale, substantial shareholder notices lodged with NZX yesterday show. That’s …

Carter Holt Harvey’s cladding sheets and systems used through 880 school buildings were “inherently defective” and the Ministry of Education is entitled to sue the building products maker, the Court of Appeal heard today. In the second day of a three-day hearing, the ministry’s counsel, Jim Farmer QC, told Justices Tony Randerson, Lynton Stevens, and Mark Cooper that the product …

Landcorp, New Zealand’s largest corporate farmer, plans to increase returns from sheep, signing a three-year contract with NZ Merino to manage its entire wool clip and seeking board approval next month to build a new shed to trial milking some of the flock. The state-owned enterprise indicated last July it was taking a serious look at milking sheep as a way of getting a …

New Zealand shares rose, led by New Zealand Oil and Gas after it bought a cornerstone stake in ASX-listed Cue Energy. Fletcher Building and Sky Network Television advanced as dual-listed stocks followed the Australian bourse higher. Kathmandu Holdings tumbled after it flagged poor sales across the Tasman, its largest market. The NZX 50 Index gained 13.989 points, or 0.3 percent, to 5541.739. Within …

The Supreme Court has denied aged care provider Terranova Homes and Care, at the centre of a landmark court case paving the way for gender pay equity, leave to appeal the ruling. In October the Court of Appeal dismissed an appeal by Terranova Homes against an earlier Employment Court ruling backing Lower Hutt rest home worker Kristine Bartlett’s claim that …