Live NZX News Today
-
24th Jun 01:32 PM NZST
NZ post to get a makeover for uniformity
In a recent announcement, a new logo as been announced for the New Zealand Post, along with rebranding activities worth NZ$15m in order to create unison between its courier Rural and Pace post services.
Image Source: © Valleysnow | Megapixl.com
Dave Walsh, the CE for this enterprise which is governed by the state is of the view that the idea was to make the livery for all these verticals alike. He further said that while the letter segment has been witnessing decline since a long time, the courier segment of the post has witnessed good business. Working with different online websites, the NZ courier is omnipresent in a lot of people’s day-to-day lives without them even realizing it.
-
24th Jun 10:55 AM NZST
Westpac not to demerge its New Zealand unit
IN a significant announcement made today Westpac Group (NZX:WBC) announced that it was retaining its ownership of Westpac New Zealand Limited and will not proceed with the demerger of its New Zealand business as announced earlier.
© Wirestock | Megapixl.com
Peter King, CEO of Westpac Group said that after detailed review the Company had reached to the conclusion that demerger was not in the best interests of shareholders. The review has identified opportunities to improve service for customers and value across the Westpac New Zealand business. NZ is a strong business and has been serving the country for 160 years the announcement said. It said that the group remains committed to delivering for customers and fulfilling the purpose of helping Australians and New Zealanders succeed, the CEO said.
-
24th Jun 10:28 AM NZST
VGL announces improved cashflows in May due to return of movie goers
Vista Group International Limited (NZX:VGL , ASX:VGL) announced on 23 June that its cashflow position continued to improved as a result of the cinema openings. It confirmed that there was a strong return of movie goers in important markets.
© Icholakov | Megapixl.com
In its 2020 Annual Report released in March 2021, Vista Group had said that it expected a cash burn of between NZ$3m and NZ$4m per month for 2021 till a steady release of films resumes.
However, since early May, the Company reported the cash receipts have exceeded expectations resulting in current cash flow being better than expected. Therefore, cash burn is expected to be much lower than forecast.
VGL will announce its first half results on 27th August 2021.
-
24th Jun 10:23 AM NZST
NZO calls for a special shareholders meet to discuss acquisition
New Zealand Oil and Gas Limited (NZX:NZO)has called a special meeting to consider the proposed acquisition of assets from Central Petroleum. The details of the proposal to be discussed are quality of the assets and the work plan.
Image Source: Copyright © 2021 Kalkine Media
The meeting will seek shareholders no for the acquisition. The Board reaffirmed its strategy for growth and said that the Company will focus on NZ and Australian markets. For that it will pursue substantial positions in high-quality producing assets. For that the Company plans to pursue transactions that are within its means. And the Central Petroleum transaction will help in meeting all these criterias.
-
24th Jun 10:00 AM NZST
Hospitality sector gains feared to suffer amidst new Wellington restrictions
In recent good news it was found that the hospitality business is amongst the lines of trade that are witnessing humungous improvement since the beginning of the pandemic. The month of May has been said to be one of the most fruitful months since a while and efforts are being made to bring businesses to pre-covid level.
Image Source: Copyright © 2021 Kalkine Media
The Trans-Tasman Bubble opening has had a huge impact on the figures and a rise of 7.5% was seen in hospitality sales in the month of May.
However, the latest set of restrictions imposed back in Wellington could tend to have a negative impact on the progress made so far, said Maria Bidois, the CE for restaurant Association.