Listed bank Heartland New Zealand produced a solid result in
line with guidance with the real catalyst being the recently
announced acquisitions, Forsyth Barr broker Haley Van Leeuwen
The Government Superannuation Fund fell in value in January
by 1.27% but still managed to return 19.33% on its nearly $25
billion in assets in the year ended January.
Prime Minister John Key expects prospective investors in
Genesis to react well to incentives likely to be
announced tomorrow by Finance Minister Bill English.
There was not much to like in the Chorus profit announcement
for the six months ending December, as the financial
profitability of the lines network company hinges on a
Commerce Commission decision.
The Government has confirmed its plans to sell down its
holding in Genesis Energy ''in the next month or so'' with
more details coming tomorrow, Prime Minister John Key says.
Government-owned New Zealand Post yesterday delivered
a much improved interim result for the six months ended
December but its subsidiary Kiwibank suffered from tight
margins, reporting a lower profit for the period.
Wynyard chief executive Craig Richardson has shrugged off the
company's loss in the year ending December in light of the
other data released in the period.
New Zealand residents with foreign retirement savings have
been granted extra time to transfer them to New Zealand
schemes to avoid hefty tax bills.
Telecom is changing its name to Spark and later this year
will launch ShowmeTV, a new internet television business, the
company announced yesterday.
Telecom's profit announcement yesterday was a good reality
check for the company with pressures from the legacy business
continuing to drag on it, Craigs Investment Partners broker
Chris Timms said.
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