Business & People
Appointments, results, deals and the people leading the industry.
KiwiRail revenue falls amid economic slowdown, freight down 7%
KiwiRail has reported a $25.8 million operating surplus for the six months to December 31, $14.7m down on the previous year, as a sluggish economy and…
Channel Infrastructure posts $26m full-year net profit
Marsden Point fuel import operator Channel Infrastructure has recorded a full-year net profit after tax of $26m, down 6% year-on-year. The NZX-listed firm saw revenue up…
Air NZ’s profit impacted by grounded jets
Air New Zealand has reported a half-year net profit after tax of $106 million, down 18% on the same period last year with the result at…
Fletcher Building posts $134m half-year loss
Fletcher Building has posted a first-half net loss after tax of $134 million, widening from a $120 million loss in HY24, as the company grapples with…
Colonial records 23.8% drop in half-year profit
The Colonial Motor Company has recorded a trading profit after tax of $6.9 million for the six months to December 31, down 23.8% on the same…
Smart Express celebrates 20-year milestone
Moving and logistics company Smart Express is celebrating 20 years of business – marking its evolution from a single-van operation to a nationwide service.
Reserve Bank cuts OCR to 3.75%
The Reserve Bank has cut the Official Cash Rate (OCR) by 50 basis points to 3.75%, noting scope for more cuts this year if economic headwinds continue.
CablePrice wins at Mercedes-Benz Vans awards
From left: Richard Field, James Magill, Mark Dragovich and Jamie Powell. The winners of the 2024 Mercedes-Benz Vans Retailer of the Year Awards were recently announced…
Freightways lifts half-year net profit to $44.7m
Freightways has posted a $44.7 million net profit after tax for the half-year to December 31, up 9.5% on the same period last year. The NZX-…
Truckometer: January jump for truckies
The ANZ Truckometer light traffic index was up 0.2% y/y in January while the heavy traffic index jumped 4.1% for the period. ANZ chief economist Sharon…