Live NZX News Today
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19th May 09:03 PM NZST
Post-Covid Era Foresees NZ’s Construction Industry To Thrive This Year
Source: Copyright © 2021 Kalkine Media
As per the latest reports, Aotearoa’s construction sector is projected to grow by 5.5%, thereby, recovery is on the cards in 2021. NZ Government in last year March declared to finance the big infrastructural projects paving the way to aid the Kiwi economy and construction sector.
Earlier, between 2016-19, the country's construction sector witnessed an average growth rate of 6.6%. With the onset of the pandemic, the industry shrunk by 7.3% in 2020, due to nationwide lockdowns and restrictions. The situation worsened with delays in logistics, project management and diversion of the allocated funds towards the COVID-19 funds.
By the end of the first month of 2021, the Labour Government had granted approvals for projects amounting to NZ$4.7 billion for the Infrastructure Industry Reference Group, which included industry leaders and assigned them to identity infrastructure projects of strategic importance.
Read: Construction sector in the driver’s seat as employment rises in NZ
With increased investments in transport, residential and energy projects, the NZ construction industry foresees an average yearly growth of 3.5% between 2022-25.
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19th May 11:31 AM NZST
Cannabis Based Company Bags Carbonzero Reputation
In what can be called a landmark move, there has been the establishment of the first ever industrial scale hemp and cannabis company in New Zealand has been given the prestigious Toito Carbonzero recognition. Greenfern Industries, is now officially, the first ever cannabis related Company in the country to have received such a certification as a result of the audit done by Toitu Envirocare, the regulatory for the same.
Image Source: Copyright © 2021 Kalkine Media
According to the regulatory firm, Greenfern followed the given norms to reduce their carbon output and was following various kinds of sustainability measures to ensure that they are least harmful to the environment.
First Carbonzero Medical Cannabis Company Named In New Zealand (canex.co.uk)
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19th May 11:06 AM NZST
Ransomware Cases Rising, Waikato Health Board Latest Target
In a recent report it was said that the Waikato District Health Board is the latest prey of Ransomware. This has in turn left clinical as well as other health services majorly affected. This while being one of the most increasingly widely used form of cybercrime, is the oldest form of crime. Its extortion, just executed in through the computer.
Image Source: Copyright © 2021 Kalkine Media
Taoiseach Michael Martin, the leader in Ireland, which has also recently been the victim of ransomware was of the view that even though it might take a few days to figure out how to function despite this ransomware, they will not be paying any ransom.
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19th May 10:45 AM NZST
KMD Appoints Michael Daly As The New Group CEO & MD
Kathmandu Holdings Limited (NZX:KMD) announced on Tuesday that Michael Daly was going to be Group’s new CEO and Managing Director. This follows the resignation of Xavier Simon.
Copyright © 2021 Kalkine Media
On the new appointment, the Chairman of KMD, David Kirk said that after an international search, the Company had zeroed down on Mr Daly. Mr Daly was head of the Rip Curl vertical for almost 8 years and has made the brand grow with focus and energy. He hoped that he would bring the same to the entire group as well.
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19th May 10:18 AM NZST
Infratil Announces FY21 Results, Declares Final Dividend of 11.5 cps
Infratil Limited (NZX:IFT, ASX:IFT) on Wednesday announced its full year results for FY21. Infratil operates across geographies and across segments and the performance of the Company in 2021 reflected the benefits of the diversification. There were certain businesses in IFT portfolio that were hit by COVID-19 but some businesses did well lie the high quality data centres. The loss in one was offset by another.
Copyright © 2021 Kalkine Media
Infratil’s share of the net loss for the year was NZ$49.2 M. this was due to unrealised energy derivative losses at Trustpower and increased management incentive fees.
Despite the restrictions imposed due to COVID-19 pandemic, Infratil and its businesses incurred a capital expenditure of NZ $1,235 M, including NZ$250 M in digital infrastructure and technology, NZ$590 M in renewable energy, and NZ$310 M in the initiation of a new diagnostic imaging platform through Qscan Group. Infratil’s total shareholder return for the year was 91.9%
Infratil has also declared a final dividend of 11.5 cents per share, a 4.5% increase over previous year.
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19th May 10:08 AM NZST
Serko Reports Losses Due To Travel Bans In its FY21 Results
Serko Limited (NZX:SKO, ASX:SKO) on Wednesday declared its financial results for full financial year of 2021 ended 31 March 2021. Serko was hit by COVID-19 pandemic due to less domestic and almost no international travel, but experienced improved travel bookings from Australasian business by the end of the year.
Copyright © 2021 Kalkine Media
Serko reported a revenue loss by 52% with revenue down from NZ$ 25.9 M to NZ$12.4 M. Total travel booking volumes fell by 63% against the 2020 financial year.
Net loss after tax for the year was NZ$29.4 M, due to increased expenses and decreased revenues. EBIT also was down by NZ$16.2 M.