Nona Pelletier

1 week ago | rnz.co.nz | Nona Pelletier

Fish farmer New Zealand King Salmon says its fish are not eating as much as usual, forcing it to reduce harvest volumes for about four months by as much as 17 percent. The company said this year's harvest would shrink to between 5200 and 5400 metric tonnes. It also cut its full year underlying profit guidance by about half to between $6 million and $12 million for the end of January.

1 week ago | rnz.co.nz | Nona Pelletier

Transport heavyweight Mainfreight full year net profit is up by nearly a third on the year earlier, with the Australian business the largest generator of revenue and profits. "We felt in certain parts of the business we could have been better," Mainfreight managing director Don Braid said, noting the underlying profit was slightly down on the year earlier by 3 percent.

1 week ago | rnz.co.nz | Nona Pelletier

Infratil is looking to sell about a billion dollars of assets over the next two to three years as part of a strategy to create more shareholder value. "We're much bigger now than we used to be and so we've taken a look at our strategy," Infratil chief executive Jason Boyes said, following the release of its full year result. He said all business units needed to fit with the growth strategy, which included CDC Data Centres, One NZ, Wellington Airport, RetireAustralia and healthcare assets.

1 week ago | rnz.co.nz | Nona Pelletier

Infrastructure investor Infratil has reported a strong full year result with underlying profit near the top end of its guidance. However, the company made a bottom line net loss, primarily reflecting a drop in revaluation gains over the year earlier, when Infratil's controlling interest in One NZ resulted in a $1.075 billion revaluation gain.

3 weeks ago | rnz.co.nz | Nona Pelletier

Inland Revenue is cracking down on property investors who aren't meeting tax obligations, including those with outstanding student loans. IRD estimates there was about $153 million in unpaid taxes in the property sector in the first nine months of this financial year, about the same as the amount found in the whole of the year before, including undeclared tax gains on properties subject to the bright line test, as well as upaid GST on sales.