18 April 2003 Foodland Australia Ltd, Perth-based owner of New Zealand’s Progressive Enterprises and Farmer’s retail chains, has delisted from the New Zealand Stock Exchange. It had 4 shareholders here. They’ll be transferred to the NZ registry. 16 April 2003 Voting for a mainstreet programme fell short of the required 60% in Pt Chevalier and […]
Read more →Archive - local business
Snapshot on local business, week to 28 January 2001
Latest: Infratil target bought 30% above book value as income falls, Carter Holt earnings up but outlook gloomy. 28 January 2001 Infratil NZ’s purchase, through a consortium, of Glasgow Prestwick International Airport from Stagecoach Group for a total £33.4 million ($NZ112 million) sounds promising — if the New Zealand-listed infrastructure investor can explain what it […]
Read more →Snapshot on local business, week to 16 September 2001
16 September 2001 Brierley Investments Ltd and Singapore Airlines will spend $150 million each increasing their equity stakes in Air New Zealand to 37% and 34% respectively, by investing in new shares at 67c instead of the $1.31 previously intended price for a Singapore Airlines stake increase. If the price falls the stakes increase. The […]
Read more →Snapshot on local business, week to 25 May 2003
23 May 2003 Air NZ Ltd increased traffic (measured by rpks – revenue passenger kilometres) by 5% in April over April 2002 on capacity (asks – available seat kilometres) up 13.7% for a 5.7-point fall in passenger load factor. Capacity was cut by 7% for May and 11% for June. For the 10 months to […]
Read more →Snapshot on local business, week to 9 June 2002
4 June 2002 The Auckland regional land transport committee is preparing a 10-year implementation plan ranking all major transport projects — roads & public transport infrastructure — which will be attached to the regional land transport strategy, become a statutory document and be subject to annual updating. The startup list shows $5.9 billion for roads, […]
Read more →Snapshot on local business, week to 3 June 2001
Latest: Deka sale off, Fletcher can buy Carter doors business, Metlifecare cuts inventory and focuses on operations, PDL shifts commodity manufacturer offshore, July decision on rapid transit option, paper on takeover scrip offers, warning to forestry scheme promoters, Securities Commission looks at trustees’ role, Qantas moves on Air NZ, public transport innovation tenders. 2 June […]
Read more →Snapshot on local business, week to 21 April 2002
15 April 2002 Auckland City Council’s transport committee has recommended that public consultation begin on extending the bus priority network into Karangahape Rd, Khyber Pass Rd & Broadway, with a report back to the committee in June. Fletcher Building Ltd will apply to the Australian Stock Exchange to convert its listing from a foreign exempt […]
Read more →Snapshot on local business, week to 7 September 2003
6 September 2003 Merchandise exports fell 8.8% in July from July 2002 to $2.325 billion, according to revised figures. Statistics NZ said main contributors to the fall were logs, wood & wood articles, fruit, petroleum & petroleum products. The July trade deficit was $456 million, 19.6% of exports. The $29 billion of exports for the […]
Read more →Snapshot on local business to July 2000
The SNAPSHOTS series is designed to keep you abreast of events without providing much detail. This series is organised into property and more general business news, locally and internationally. 26 July 2000 UnitedNetworks said today it would install, own and manage underground fibre optic networks in the Auckland and Wellington cbds, as the first stage […]
Read more →Snapshot on local business, week to 11 August 2002
8 August 2002 Acting transport minister Judith Tizard & Australia’s transport minister, John Anderson, signed the 2 countries’ open skies air services agreement in Auckland today, formalising a memo of understanding signed in November 2000 and incorporating the single aviation market arrangements signed in 1996. The agreement was a key component of Air New Zealand’s […]
Read more →Snapshot on local business, week to 1 April 2001
Latest: Cargo shift to Tauranga, Pacific Retail does jig, Savoy suspended, Rubicon opens at half asset value, Carter buys Tasman kraft, current account deficit improves. 29 March 2001 Fesco NZ Express Line will make Tauranga the sole North Island port of call for its weekly Far East service, which the Port of Tauranga company expects […]
Read more →Snapshot on local business, week to 9 February 2003
6 February 2003 Wellington International Airport Ltd confirmed yesterday it would raise charges to the airlines by an average 77.7%, which it said would amount to an extra $4 on a 1-way journey. Chief executive John Sheridan said it was the airport’s 1st fee rise in 5 years and was needed to cover the $116 […]
Read more →Snapshot on local business, week to 7 December 2003
3 December 2003 Tyco Services NZ, a business unit of Tyco International Ltd’s fire & security business segment, will amalgamate various business units under the Climatech Ltd mechanical services banner. Finnemore, Koolineand Refrigeration Systems will become Climatech Refrigeration. Tempest Sheetmetal, based in Albany, will be rebranded & merged with Climatech Sheetmetal in Christchurch.
Read more →Snapshot on local business, October 2000
Latest: Ontario-based stock scam, Tranz Rail to sell non-core, Tauranga and Brisbane create Oneport strategy. 31 October 2000 The latest scam for New Zealanders to worry about comes from Ontario, involves worthless stock, swaps and phone salespeople who claim to represent legitimate US companies. The Securities Commission’s senior operations executive, Norman Miller, said today some […]
Read more →Snapshot on local business, week to 25 February 2001
Latest: Evergreen lifts profit, fraud trial starts, more consultation on separate rate for Takapuna. 22 February 2001 Evergreen Forests Ltd has increased half-year profit by 68% to $3.5 million on revenue up 189% to $17.3 million. Basic earnings per share rose from 1.6c to 2.7c, and diluted from 1.1c to 1.9c. Shareholders will not get […]
Read more →Snapshot on local business, week to 21 October 2001
20 October 2001 Overseas visitor arrivals increased 15%, or by 17,400 to 131,200 in September. For the September year, 1.935 million visitors arrived, up 12%, or 210,000. Short-term NZ resident departures rose 7% in September and 6% for the year, to 1.3 million. Permanent and long-term arrivals exceeded departures in September by 3500, compared to […]
Read more →Snapshot on local business, week to 1 June 2003
Warehouse Group Ltd chief executive of the past 4 years, Greg Muir, has resigned, citing different philosophies over the company’s direction. He will finish on 31 July. Company founder Stephen Tindall will be acting chief executive while the company looks for a replacement. Under Mr Muir, The Warehouse went from an $800 million to $2 […]
Read more →Snapshot on local business, week to 30 June 2002
30 June 2002 Kiwi Income Property Trust unitholders have been sent the investment statement & letter of entitlement & acceptance form for the $71.3 million 1:6 renounceable rights issue, priced at 82c. Foodland Associated Ltd has repaid the vendor finance advanced in connection with the acquisition of Woolworths (NZ) Ltd’s holding company, Denstree Corp Ltd. […]
Read more →Snapshot on local business, week to 8 July 2001
Latest: Rail corridor mode preferences chosen, Anderton says zero-rating and business clusters will help boat-builders, Evergreen’s forests 3.5% above expected value, Securities Commission okays abbreviated prospectuses in takeovers. 8 July 2001 Councillors around the Auckland region established rail corridor mode preferences on Friday after a five-hour workshop, dubbed Working Forum B. Their preferences are light […]
Read more →Snapshot on local business, week to 28 April 2002
27 April 2002 The Warehouse Group Ltd will apply for full stock exchange listing in Australia, retaining its New Zealand listing. It’s listed in Australia now as a foreign exempt company. Wellington retailer Kirkcaldie & Stains Ltd increased its net profit for the February half by 5.5% to $1.07 million on sales up 6.7% to […]
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