Business & People
Appointments, results, deals and the people leading the industry.
VINCI completes acquisition of Fletcher Construction
French infrastructure giant VINCI has completed its acquisition of Fletcher Construction, strengthening its position in New Zealand's infrastructure sector. The deal, first announced in January, brings…
WasteCo’s full year loss widens to $12.3m
WasteCo has reported a net loss $12.3 million in the year ended March 31 with the company saying it continues to “rebuild performance, systems and accountability…
Mainfreight net profit falls 8.5% to $251m
Mainfreight has reported an 8.5% decline in annual net profit to $251 million for the year ended March 31 with trading conditions improving during the second…
Heartland to acquire TSB for $620m in challenger bank merger
Heartland Group Holdings, a major motor finance lender, has agreed to acquire TSB Bank for $620 million to create New Zealand’s seventh largest bank, combining TSB’s…
MTF Finance reports $4.7m half-year underlying profit
MTF Finance has reported a solid half-year result for the six months ending March 31, with the company citing disciplined growth, continued investment and the resilience…
Reserve Bank holds OCR at 2.25%
The Reserve Bank has left the Official Cash Rate unchanged at 2.25%, warning that inflation is expected to rise sharply this year as the Middle East conflict drives higher fuel and energy costs while weakening economic growth.
New chair and deputy chair appointed to Maritime NZ board
Associate Transport Minister James Meager has confirmed two new appointments to the board of Maritime New Zealand, including a new chair and deputy chair.
Gary Bone appointed Penske executive general manager of on-highway
Penske Australia & New Zealand has appointed Gary Bone as executive general manager of on-highway following the resignation of Craig Lee, who will leave the company…
EROAD reports $161m loss amid transformation reset
Transport technology company EROAD has reported a net loss after tax of $161.1 million for the year ending March 31 as it continues a major transformation…
CRA honours MITO leaders with Chairman’s Awards
MITO deputy chair Warren Flowerday and chief executive Verna Niao have received Chairman’s Awards at the Collision Repair Association Awards Dinner held in Melbourne on May 15.