My Food Bag (NZX:MFB) shares drop 16% on 1HFY23 results

My Food Bag reported lower results for 1HFY23 compared to IHFY22. It reported a drop in revenue by NZ$4 million over the previous corresponding period (PCP). According to MFB, net profit after tax was also lower by almost NZ$3.5 million over the PCP.

Channel Infrastructure (NZX: CHI) updates guidance, shares rise

hannel Infrastructure’s updated FY23 guidance reflects the Producers Price Index (PPI). The company now expects revenue to be in the range of NZ$125-NZ$128 million Channel also updated its EBITDA guidance to NZ$82-NZ$86 million

Tourism rebound continues in New Zealand

New Zealand saw an increase in international tourists in September. According to Stats NZ, the figures are below the pre-COVID levels. Of late, the international visitors have been non-New Zealand residents

NZ’s Flexi-wage program a success, claims government

New Zealand’s Flexi-wage program has supported over 20,000 people into jobs. It has been an important tool for helping businesses in getting the right people. Maoris and Pacific workers are prominent beneficiaries of this plan.

Card spending continues to grow in New Zealand: Stats NZ

Card spending continues to grow in New Zealand, as per Stats NZ. Retail spending was the highest, up NZ$66 million or 1%, in October.  Non-retail sector spending was up NZ$ 22 million.

New Zealand’s annual food prices highest in last 14 years

Food prices have recorded their biggest jump in 14 years. Food prices were up 10.1% in 2022 compared with the previous year. Grocery items were the largest contributor to the price movement.

Manawa Energy (NZX:MNW) shares down following release of half-year results

Manawa Energy announced a net profit after tax of NZ$391 million. Manawa reported a downtrend in all its key metrics. The company stated that it will focus on developing its solar and wind energy projects.

NZ govt broadens childcare assistance services to cover more families

New Zealand government has decided to extend its childcare assistance to more families More than 10,000 children will get assistance to go to school or pre-school. The move may cost the exchequer NZ$189.4 million.

Consents for standalone homes declining in New Zealand: Stats NZ report

Building consents for multi-unit homes are increasing in New Zealand. In 2022, 50,732 homes were consented to, according to Stats NZ. Out of these consented homes, 55% were townhouses and apartments.

21% Kiwi households prepared for natural disasters: Stats NZ

21% of Kiwi households were prepared for natural disasters like earthquakes and floods, said a Stats NZ report The report added that 13% of households were completely unprepared for natural disasters.