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