NZ's Freightways H1 net profit up 1 percent

NZ's Freightways H1 net profit up 1 percent

A 1% increase in the first half net profit, on solid trading for its core business was reported by New Zealand courier company Freightways Ltd on Monday.

In the six months to 31st December, Freightways made a net profit of NZ$16.9 million ($8.8 million) compared with NZ$16.8 million in the same period a year ago.

On Friday Shares of Freightways closed at NZ$3.12, having fallen 2.6 percent in the past year, against a 1.3 percent rise for the benchmark NZSX-50 index .NZ50.

F&P Appliances’ profits decline and shares drop

F&P Appliances’ profits decline and shares drop

The global recession is having its effect as the sales fell steeply in all the markets. Sales of Fisher and Paykel Appliances Ltd, the New Zealand based household appliance maker, fell by more than 13 percent in New Zealand, 8.5 percent in Australia, 13 percent in America and 19 percent in Europe.

The company expects a normalised net profit of NZ$25-NZ$30 million by March end as compared to a net profit of NZ$54.2 million last year.

Romance on the internet invites Armed police raid

Romance on the internet invites Armed police raid

It was an internet romance between a New Zealand man and a German woman which compelled the police to raid a house in South Island. Police said that when the 30 year old German woman went to meet this man at the Dunedin airport she found that he was not the person with whom she had became friendly on the internet and she was deeply shocked.

Detective Senior Sergeant Steve McGregor said that the friends of this woman got worried and concerned when she did not turn up to be with them after meeting her internet friend.

$100,000 first prize in new International Business Awards

New Zealand International Business Awards

New Zealand Trade and Enterprise re-launched its New Zealand Export Awards as the New Zealand International Business Awards, with a first prize of $100,000 for the winner.

The first prize shall be given to an overall winner in all the categories and would also recognise an emerging and an outstanding business leader making a significant contribution to the expand business internationally.

In the re-launched award, ANZ is the new strategic partner and the company has made bigger contribution in increasing the amount for the first prize.

5 per cent drop in profit predicted by Fletcher in earnings

Fletcher Building Ltd

New Zealand's third biggest company, Fletcher Building Ltd, indicated a huge drop in the half year's profit and predicted its earnings down 5% in four out of its five divisions as its half year profit dropped 27 per cent from $235 million to $172 million.

Telecom shares are stable despite reduced profits

Telecom's share

Despite a 59% drop in the profits, Telecom's share prices remained largely stable after the announcements of the results. This year the company registered a profit of $163 million, for the six months, as compared to $397 million in the previous year.

Telecom Chief Executive, Paul Reynolds, said that despite the slowing economy the company focused in the broadband, mobile and ICT areas and its revenue increased

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