Listed Dairy Equity Ltd is seeking a High Court order to allow it to return $20 million to shareholders in the wake of its failed bid to be the first company to offer dairy-related stock to general investors.
Christchurch City Holdings Ltd has incrementally increased its majority shareholding in listed Lyttelton Port Company (LPC) to 75.01% - with Port Otago still holding a takeoverblocking 15.47% stake - but potentially leaving the port company open to a merger or amalgamation.
Dual-listed Glass Earth Gold - which has just raised a further $6.3 million for exploration in Canada - is spending more than $1 million accelerating further geological ground sampling around its Otago tenements.
Moving company Allied Pickfords in New Zealand has given assurances it is ‘‘business as usual'' despite its parent company, Sirva, filing for chapter 11 bankruptcy in the United States in order to restructure the indebted global entity.
Bright retailing results from Australia for Pumpkin Patch are expected to be overshadowed by weak US and UK results, resulting in a forecast of after-tax profit down almost 20%.
Fletcher Building's shares were surprisingly punished by investors yesterday despite the multi-division global company booking increased revenue and after-tax profits of 19% and 22% respectively for the half-year to December, in the face of already challenging markets.
Companies are being hammered by shareholders, as one of the most volatile reporting seasons in years gets under way, despite businesses booking positive results and strong forward guidance.
Listed Pyne Gould Corp - underpinned by finance division Marac Finance - has delivered a 23% increase in its half-year after-tax profits to a backdrop of 24 months of turmoil in the finance sector.
In a surprise move yesterday, the Canada Pension Plan Investment Board (CPP) - making a 40% partial takeover offer for Auckland International Airport (AIA) - set aside an equally surprising move by the Government the previous day to effectively block the offer.
Fisher & Paykel Appliances' 12-month share price target by brokers ABN Amro Craigs has been downgraded almost 30% on expectations Australia will be the only sector showing growth next year, albeit significantly lower than this year.
The weak US dollar continued to bolster the New Zealand dollar strength with the latter at a 23-year post-float high trading around US81.5c yesterday before closing up US0.34c up on the previous close, at US81.16c at 5pm.
The Careys Bay Historic Hotel has been sold for an unconfirmed sum of more than $1.2 million.
To a backdrop of new record spot gold prices, Oceana Gold Corp has booked an after-tax loss of $US69 million ($NZ84.3 million) for its full year to December - a 190% increase on last years $US23.4 million loss.
Glass Earth Gold believes results from recent exploration around Otago may indicate the presence of two large orebearing structures similar to the Oceana Gold Corp holdings at the Macraes mine in East Otago.
Investors on both sides of the Tasman have been punishing the share prices of some companies reporting financial results, including those coming in above guidance with multimillion-dollar profits.
Excavations are expected to begin next month for the construction of concrete foundations for a multimillion-dollar, 26-room hotel at St Clair Esplanade.
Port Otago and rival Lyttelton Port of Christchurch appear set to go head-to-head again to become the South Island's preferred deep-water port - vying for new-generation ships carrying 6000 to 8000 containers - with both ports now proposing dredging to deepen navigational channels.
Oil company giant BP says petrol and diesel could rise at least 7c a litre at the bowser if new biofuel requirements come into force on July 1.
New Zealand retail fuel prices appear set to remain in mid to upper $1.70-plus range for some time as the high New Zealand dollar continues to cushion consumers from a devastating blow to their wallets from escalating global oil prices.