Business & People
Appointments, results, deals and the people leading the industry.
Truck show still going ahead, awards dinner cancelled
New Zealand’s largest truck industry show is still set to go ahead this weekend but organisers have cancelled the industry dinner and awards ceremony as a…
Covid-19 fallout suspends airport earnings guidance
Following the international outbreak of Covid-19 and strict new border controls, Auckland Airport is suspending earnings guidance for the year to 30 June 2020. Chief executive…
Reserve Bank slashes OCR to record low
Covid-19’s negative economic impact has led the Reserve Bank to cut New Zealand’s official cash rate (OCR) from 1.0 percent to 0.25 percent The OCR will…
Coronavirus hits ANZ Truckometer
The ANZ Truckometer heavy and light traffic indexes dropped in February as the coronavirus (Covid-19) outbreak hit economic activity. The light traffic index was down 0.7%…
THL posts $13.1m half-year profit
Tourism Holdings Limited (THL) has reported net profit of NZ$13.1 million for the FY20 first half to December 31. This was down 25% compared to the…
TIL posts ‘disappointing’ $2.2m first-half loss
Trucking firm TIL Logistics has reported a net loss after tax of $2.2 million for its half-year result to December 31. This was down from the…
KiwiRail reports $33.7m half-year loss
KiwiRail is reporting a net loss of $33.7 million for the six months to December 2019. However, it marks an improvement on the $104.6m loss in…
Freightways lifts revenue, no coronavirus impact yet
Freightways has increased its half-year revenue 1.3% to $318.9 million and says it’s yet to see any impact from the coronavirus (Covid-19). Its earnings before interest…
Colonial notes downturn in half-year result
Listed car, truck and rural machinery dealer group Colonial Motor Company has warned of a sales decline in its latest results. The company reported a 25%…
Daimler celebrates dealer of the year
Murwillumbah Truck Centre has won the 2019 Daimler Dealer of the Year award. Owned and operated by the Bedser family since 1981, Murwillumbah Truck Centre has…