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QEX CFO resigns

QEX Logistics advised that its Chief Financial Officer, Lin Zhuo, has resigned from her role at QEX. Ms Zhuo’s departure date is yet to be confirmed.

Record result from Briscoe Group

Despite the huge test presented by COVD-19 lockdowns, Briscoe Group has achieved record net profit after tax (NPAT) of $73.20 million for the year ending 31 January 2021, a 16.96% increase on the $62.58 million reported for the previous year. ...

Market report 18.2.21

The NZ sharemarket reversed direction today after solid gains midweek, falling40.37 points to 12,633.60.  Auckland Airport dropped 7c to $6.90 on its lower results and Air NZ came off 5c at $1.55. Chorus dropped 17c to $9 and Meridian Energy was down 11c at $6.04. Tilt shed 11c at $6.50 and Summerset 10c. EBOS moved 19c higher at $29.30 on the group’s results and Freightways jumped 24c to $11.10. F&P Healthcare gained 15c at $32.40. Port of Tauranga was marked 11c higher at $7.54. Skellerup gained 10c on its strong rebound in earnings and traded at $4.15. Hallenstein Glasson gained 10c at $7.65. Australian banks firmed, ANZ rising 83c to $28.63 and Westpac 75c to $26.27. Overnight, the Dow Jones gained 90.27 at 31,613.07. ...

Tougher lending rules for house buying

Loan-to-value ratio (LVR) restrictions have been toughened to reduce the risks to financial stability caused by what the Reserve Bank deemed to be high-risk mortgage lending. ...

Hot market in Christchurch

Property auctions went into a pre-Christmas frenzy in Christchurch last week as Ray White offices sold 24 properties under the hammer for a combined total value of more than $16,500,000. ...

Me Today expands revenue

Since listing on the NZX Main Board on April ,Me Today has been implementing its strategy of building the brand, market expansion, innovation, and channel development and updated the market with its opening six months to September 30. ...

Solid half-year for Goodman

A significant portfolio revaluation, ongoing leasing success, further development progress and strategic acquisitions have all contributed to an interim profit of $186.4m before tax for Goodman Property Trust ...

Covid crops Ryman half year result

  Unaudited reported (IFRS) profit, which includes unrealised fair value gains on investment property, increased 12.8% to $212.4m in the six months to September 30. Shareholders will receive an interim dividend of 8.8 cps in line with underlying profit. The record date for entitlements is December 11, and the dividend will be paid on December 18, 2020. Chief Executive Gordon MacLeod said the pandemic had increased costs and restricted sales and construction activity in key markets. “We are anticipating cash collections of at least $275m in the second half from new sales. With 12 villages in progress and more on the way, we will be creating more than 2,000 jobs as well as homes and care for more than 4,000 residents.’’ Ryman’s integrated villages and high-quality care continued to be in strong demand in the first half, with care occupancy in established villages running at 97%. Only 1.9% of the retirement village portfolio was available for resale at September 30 The construction team continued to build at a reduced rate in Victoria and Ryman is planning to have five villages open in the state by December 31, although there is potential for this to be slightly delayed because of COVID-19.   ...

Stride steps into Wellington CBD

Stride Property has entered into an unconditional agreement to acquire an office building at 215 Lambton Quay, Wellington, known as Grant Thornton House, for a purchase price of $84.5 million. ...

Capital raise by Synlait

Synlait Milk has announced a $200m equity raising that will help pay for the customisation of Synlait Pokeno and Auckland for processing and packaging equipment to service its new multinational customer and strengthen its balance sheet. ...
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