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Companies

Mainfreight profit leaps on record earnings

Mainfreight has shone a light through the global financial murk, posting a 109 per cent leap in first quarter profit.

TelstraClear sinks to pre-tax loss

TelstraClear has posted an operating loss of $5 million before interest and taxation.

Smart apps deliver a crust for Domino's

ELOISE GIBSON - © Fairfax NZ News

The digital age has delivered a new twist on dialling for pizza, with one in ten Domino's pizza purchases in New Zealand now made using a smartphone.

ASB annual profit surges

An improving economy and less bad debt has helped to boost ASB's annual profit by nearly 28 per cent.

Ravensdown more than doubles profit

Ravensdown more than doubled annual pre-tax profit and has built a significant operation in Australia.

Diligent on rising sales track

Dilligent improved its first half result, boosting sales by 81 per cent.

Hallenstein data 'ominous' for retail sector

New Zealand stocks fell for the second time in three sessions, with retailer Hallenstein Glasson leading the decline after downgrading its profit outlook, while Sanford rose.

Market eases after gains

Sharemarket - close

The New Zealand sharemarket eased today, turning its back on nine consecutive days of gains despite the release of positive results from two of the smaller companies.

SmartPay has been granted a waiver by NZX Regulation over issuing shares and paying annual consultancy fees to River Horse Consulting, a trustee firm associated with SmartPay's managing director Ian Bailey.

Grim news for Charlie's

Juice maker Charlie's expects to make a net loss in the range of $1.8 million to $1.95 million for the full year.

Telecom courts iPhone users

BY ROB O'NEILL - © Fairfax NZ News

The competition for iPhone users in New Zealand has just heated up, even before Telecom announces any deal with Apple.

Winglets tipped to save millions

BY ROELAND VAN DEN BERGH - © Fairfax NZ News

The first of Air New Zealand's modified Boeing 767-300ER jets has been given a new lease of life with the addition of distinctive fuel-saving winglets.

Unrealised loss for property trust

AMP NZ Office Trust has reported an unrealised loss of $72.25 million in the value of its portfolio in the three months to 30 June.

Diligent sales revenue up 66pc

Diligent Board Member Services lifted net sales revenue to $US1.16 million ($NZ1.86 million) for the half year to the end of June, up 66 percent from a year earlier.

Airport silent on Tainui hotel report

Auckland International Airport won't comment on a report that Tainui Group Holdings wants to build a hotel at the airport.

ANZ's war chest

BY DANNY JOHN AND ERIC JOHNSTON - © Fairfax NZ News

ANZ Bank has set its sights on a more ambitious sweep of acquisitions in Asia.

NZOG buys stake in Hoki permit

New Zealand Oil and Gas Ltd (NZOG) is buying a 10 percent stake in the Hoki oil prospect permit area off the Taranaki coast.

GPG slams CSR board

BY ELI GREENBLAT - © Fairfax NZ News

Guinness Peat director Gary Weiss has launched a blistering attack on the board of CSR.

ING Property making progress on asset sales

ING Property Trust says good progress is being made on its target of selling $100 million worth of property.

NZOG 'deeply regrets' oil spill

New Zealand Oil and Gas says it deeply regrets an oil spill at the Tui oil fields, which it part owns, in 2007. The spill has resulted in fines for the field's operators.

Briscoes expects improved earnings

Briscoe Group is expecting first half earnings before interest and tax to be above the $3.6 million for the corresponding period of 2008.

Sealegs wants options

BY DAVID HARGREAVES - © Fairfax NZ News

Having cancelled one options plan, Sealegs directors are now pushing for another one.

SCF expects to keep investment rating

South Canterbury Finance is expecting to retain its investment grade rating, with shareholder Allan Hubbard to complete an underwrite guarantee shortly.

GPG takes fight to UK brewer

BY ELI GREENBLAT - © Fairfax NZ News

Sir Ron Brierley's investment group is leading a shareholder revolt over the planned sale of a London hotel.

Methven to defend ComCom move

Shower and tapware maker Methven will defend a planned prosecution by the Commerce Commission over adverts for its Satinjet twin jet shower technology.

Methven will defend planned prosecution

Shower and tapware maker Methven will defend a planned prosecution by the Commerce Commission over adverts for its Satinjet twin jet shower technology.

Capital raisings continue on NZX

Companies have continued to rely on the markets to raise capital, with the amount raised in the first six months of 2009 more than twice as much as a year ago.

Mixed signals for sharemarket trades

The New Zealand sharemarket gave out mixed signals in June, after hopeful early signs of a possible recovery in activity showed up in May.

Auckland Airport defers price increases

Auckland Airport is deferring some signalled price increases because of the tough economic climate.

Takeovers Panel finds omissions in Rubicon bid

The Takeovers Panel has found that companies associated with American David Knott omitted to instruct that their shares should not be voted on a partial takeover for New Zealand company Rubicon.

Regulator to prosecute Methven over ad

Methven is in hot water over adverts for its Satinjet twin jet shower technology.

Online presence big and red

BY CLAIRE MCENTEE - © Fairfax NZ News

The Warehouse's online store has made a solid debut but the big red shed has room to improve.

Sky puts online TV on stand-by

BY TOM PULLAR-STRECKER - © Fairfax NZ News

Sky Television is looking to the Government's $1.5 billion investment in ultrafast broadband to help revive the case for online television after it puts internet download service Sky Online on stand-by.

Fisher & Paykel among the doubters

BY CLAIRE MCENTEE - © Fairfax NZ News

Smart meter computer chips will mean cheaper power bills for consumers but the technology is a long way off, says Fisher and Paykel.

SecCom lets Plus SMS off hook

The Securities Commission found Plus SMS Holdings misinformed the market in 2006 but said it had no power then to do anything about it.

Ogden appointed to Warehouse board

The Warehouse Ltd said has appointed James Ogden as an independent director on its board.

Morrison making 'good progress'

Infratil founder Lloyd Morrison is making good progress in his treatment for leukaemia.

Interest in Infratil investment crystallizes

BY GARETH VAUGHAN - © Fairfax NZ News

Interest in an Australian energy company in which Kiwi firm Infratil is the largest shareholder is picking up.

Hubbard injects cash into SCF

BY ALAN WOOD - © Fairfax NZ News

South Canterbury Finance's principal owner Allan Hubbard is injecting $40 million of new capital into SCF after it was forced to take a $58 million write-down.

S&P sees strength in Hubbard

BY JONATHAN UNDERHILL - © Fairfax NZ News

Standard & Poor's says it has noticed the spike in South Canterbury Finance's 2012 bonds, which yielded more than 14 per cent this week.

PGG Wrightson tipped for equity raising

BY KIMBERLEY VILLARI - © Fairfax NZ News

PGG Wrightson's "optimistic" profit outlook has been questioned by analysts who have raised the prospect of the company needing an equity raising to manage debt.

F&P's intensive bid for China market

BY KRIS HALL - © Fairfax NZ News

Fisher & Paykel Appliances is re- jigging its management structure as it aims at the Chinese white goods market and has appointed two board members from new shareholder Haier.

NZX holding $25m war chest

BY CATHERINE HARRIS - © Fairfax NZ News

The Stock Exchange is holding a $25 million war chest as it finalises the sale of its carbon credit trading platform.

New chief executive for Metlifecare

Retirement village operator Metlifecare has appointed Alan Edwards as its chief executive.

ING Medical sells property

ING Medical Properties Trust said it has sold its smallest freehold property in Point Chevalier in Auckland for 5 percent below valuation at June 30 last year.

Cap out at Silver Fern Farms

BY ALAN WOOD - © Fairfax NZ News

New Zealand's biggest meat co-operative Silver Fern Farms has confirmed a capital-raising and board shake-up.

Telecom and Navman renew fleet tracking contract

Navman Wireless and Telecom have signed a new open-ended contract for Navman Wireless to provide the technology for Telecom's Locate+ vehicle management and fleet tracking system.