Dene Mackenzie

Shareholders punish Contact's dividend policy

Contact Energy shareholders showed their disappointment with the company's unchanged dividend policy by marking the shares down nearly 6% when the market opened yesterday.

Mixed first half results expected

Mixed first half results expected

First-half results from the New Zealand electricity companies are likely to be mixed, with Meridian Energy, reporting today, set to be the standout performer, Forsyth Barr broker Peter Young says.

Tax relief will free up cash for farmers

Tax relief will free up cash for farmers

The tax relief announced this week for drought-affected South Island farmers provides an opportunity for farmers to free up cash flow, Crowe Horwath tax principal Tony Marshall says.

Positive growth expectations for jeweller

Positive growth expectations for jeweller

Michael Hill International reported what it called a ''satisfactory'' first-half financial result but the jewellery company provided no guidance for the rest of the year.

Spending drops in line with fuel price

Household spending is poised to accelerate modestly this year, judging from the latest electronic cards transactions data for January, ASB economist Jane Turner says.

NZME. result above November forecast

The New Zealand arm of APN News & Media, NZME., reported falls in both revenue and operating profit for the year ended December, figures released to the NZX yesterday showed.

Pressure on SkyCity finances

Pressure on SkyCity finances

SkyCity Entertainment's already-stretched balance sheet is unlikely to be able to cope with an extra $100 million of debt to meet the cost of an upgraded New Zealand International Convention Centre.

NZD: bearish but no basket case

NZD: bearish but no basket case

The New Zealand dollar is likely to stay strong against the Australian currency at least until March of next year while falling at the same time against the United States dollar, BNZ research shows.

Govt bid to cut red tape hailed

Govt bid to cut red tape hailed

The Otago Chamber of Commerce and the Otago-Southland Employers Association are right behind any moves by the Government to cut down on the amount of red tape their members have to deal with.

NZ economy set to grow

NZ economy set to grow

New Zealand is set for a year of overall economic growth but the latest ASB quarterly economic forecasts show global growth forecasts have been downgraded.