News: Heartland profit rises to $48 million

marac_1Heartland New Zealand – the parent of vehicle and equipment financier MARAC – is forecasting a net profit after tax (NPAT), for the year ended June 30, 2015 , of approximately $48m.

This result is preliminary and subject to finalisation.

Given heightened market interest in the dairy sector in New Zealand, Heartland says its exposure to dairy is currently 7.6% of its total lending book. The average loan to value ratio (LVR) for Heartland’s dairy exposures is 61%. However, it is important to note that LVRs are only one of the indicators of loan quality. Continue reading “Heartland profit rises to $48 million” »

Heartland New Zealand - the parent of vehicle and equipment financier ...

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News: Former head of Todd Motors dies

John-ToddThe former managing director of Todd Motors, and former chairman of Todd Corporation, Sir John Todd (88) died at his Wellington home last night after a period of ill heath.

The patriarch of one of New Zealand’s wealthiest families, Sir John was knighted in 2011 after retiring from the helm of the Todd Corporation, according to the New Zealand Herald.

He was a philanthropist, as well as a patron of the Arts, and chairman of the family’s charitable Todd Foundation. Continue reading “Former head of Todd Motors dies” »

The former managing director of Todd Motors, and former chairman of To ...

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News: Mainfreight passes $2 billion in global sales

NissanHero_CaseStudy_mainfreightMainfreight’s combined total sales globally were more than $2 billion for the year to March 31, according to the just released 2015 annual report for the listed company.

The exact figure was $2,054,339,000. That says chairman Bruce Plested in his chairmans report, was nearly $40 million per week.

Pre-tax global profits are at a record level of $121 million, an increase of $11 million, or 10.2% on the previous year. Continue reading “Mainfreight passes $2 billion in global sales” »

Mainfreight’s combined total sales globally were more than $2 billion ...

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News: Transport software company boss steps down

Gentrack-Logo-Converted.jpg.width.345After ten years at the helm of transport and utilities software development company Gentrack Group, chief executive James Docking will step down from the position next year.

BusinessDesk reports the company board will start a international search to replace him.

In a statement the company says that Docking will stay on until the handover is made, and may remain involved in the business in a role that’s still to be agreed. Continue reading “Transport software company boss steps down” »

After ten years at the helm of transport and utilities software develo ...

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News: GoClear DEF passes 10 million litre milestone

GoClear-10-millionth-litre--Dr-SmithMore than 10 million litres of locally produced GoClear diesel emission fluid has been manufactured at its Kapuni plant in Taranaki by farming co-operative Ballance Agri-nutrients since 2009.

GoClear is used in selective catalytic reduction (SCR) technology equipped diesel vehicles to remove nitrogen oxides from vehicle exhaust. It reduces harmful NOx in exhausts to harmless nitrogen gas and water vapour.

According to Ballance Agrinutrients, scientists calculate this GoClear volume has removed 2,000 tonnes of harmful exhaust gases from the air. Continue reading “GoClear DEF passes 10 million litre milestone” »

More than 10 million litres of locally produced GoClear diesel emissio ...

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News: Reserves reduced on all ex Smith and Davies assets

smith_davies_email_largeAuctioneer Turners Trucks & Machinery says that online auction reserves on all remaining items from ex civil contractor Smith and Davies have been reduced in all cases and the assets are priced to sell!

The online auction will conclude on Tuesday August 4.

The remaining assets up for sale include tipper trucks and trailers, forestry trucks and trailers, tractor units, excavators, a grader, a dump truck, and a compressor. Continue reading “Reserves reduced on all ex Smith and Davies assets” »

Auctioneer Turners Trucks & Machinery says that online auction res ...

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News: Lack of govt strategy gets a serve from Mainfreight chairman

Bruce-Plested-1-web_2In his address to the annual meeting of shareholders yesterday Mainfreight executive chairman Bruce Plested says the government needs to understand that transport infrastructure needs a strategy that considers road, and rail, and ports.

In his speech Plested says the government and treasury have treated rail appallingly since its sale in 1992 and repurchase in 2006

“I awoke on Friday, July 10th at 6.00am, to news that the Government was considering closing down the railway system,” he told the meeting. Continue reading “Lack of govt strategy gets a serve from Mainfreight chairman” »

In his address to the annual meeting of shareholders yesterday Mainfre ...

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News: Ballance delivers cash early to farmers

Fertiliser_Spreading_1_OGPFarm nutrient co-operative Ballance Agri-Nutrients will fast track its 2014/15 rebate and dividend payment to get much needed cash to farmers earlier than usual.

The co-operative will begin its distribution of an average $60 per tonne, some seven weeks ahead of its normal payment schedule on July 31.

The rebate, averaging $55.83 a tonne along with a 10 cent dividend per share, will see a total distribution to farming shareholders of $76 million – equating to 94% of its $81 million gross trading result. Continue reading “Ballance delivers cash early to farmers” »

Farm nutrient co-operative Ballance Agri-Nutrients will fast track its ...

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