NZ wine company reports $7m profit | NZ Market Update

Kiwibank's profit has taken a big hit from Covid-19 impairments and lower interest rates. The state-owned bank today announced its net profit after tax was down 47 per cent to $57 million for the year to June 30. Kiwibank chief executive Steve Jurkovich said the result reflected the impact of Covid-19 and lower interest rates.

A Taranaki New Zealand medicinal cannabis company is taking another shot at crowdfunding as it seeks to grow its business by buying a hydroelectric power station in south Taranaki. On Monday, Greenfern launched a campaign to raise $4 million, which would help it to achieve its goal of buying the power station located next to its research facility in Normanby.

Billionaire winery owner Bill Foley has donated almost $400,000 to United States President Donald Trump but revelations of his political leanings don't appear to have dented the popularity of his New Zealand brands.

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