Latest New Zealand Economy News

2 Cheap Cars has opened FY27 with a sharp lift in unaudited profit and margins, even as vehicle volumes declined. The improvement arrives alongside Sena & Co’s increased NZ$0.90-per-share takeover offer, which remains conditional on reaching 90% voting control by 30 September.

Port of Tauranga has gained fast-track approval for its Stella Passage development, a key infrastructure project aimed at boosting freight capacity and supply chain efficiency in New Zealand.

NAOS Small Cap Opportunities Company Limited trimmed its after-tax loss to $6.6 million in FY26 while maintaining a 5-cent per share dividend. Despite portfolio underperformance against the ASX Small Ordinaries, the company’s shares rallied to trade at a premium to net tangible assets, with management optimistic about earnings momentum in FY27.

Steel & Tube has secured a one-year extension on its ANZ banking facilities, underpinning financial stability as trading conditions soften due to geopolitical tensions and sector-specific pressures.

ASB’s half-year results show a modest 1% rise in cash net profit, driven by growth in home, business, and rural lending alongside a 5% increase in customer deposits. The bank is investing heavily in technology, customer experience, and social housing initiatives to support New Zealand’s long-term prosperity.

Manuka Resources’ subsidiary Trans-Tasman Resources has received a draft decision proposing to decline consent for its Taranaki VTM iron sands project, challenging the company’s plans to develop a critical minerals supply in New Zealand.

IPH Limited reported solid FY25 profit growth driven by Canadian acquisitions and a promising FY26 start despite challenges in Australia and New Zealand. CEO Andrew Blattman announced his retirement for late 2026, marking a pivotal leadership transition.

National Australia Bank reported a 1.2% revenue increase to $20.872 billion in FY25, while net profit dipped 2.9% to $6.759 billion. The bank highlighted progress in customer-centric strategy, technology modernization, and sustainability initiatives.

Freightways has reported solid financial results for FY25 with revenue up 6.6% and net profit rising nearly 13%, alongside an 8% dividend increase. The company’s robust Q1 FY26 trading update highlights continued momentum driven by market share gains and operational efficiencies.

Air New Zealand has revised its first half 2026 financial outlook to a pre-tax loss between NZD 30 million and 55 million, citing weaker revenue growth and rising costs. The airline is pushing cost-saving measures while highlighting uncertainties ahead.

Turners Automotive Group is on track to surpass its record first-half earnings by over 10%, driven by strategic branch expansions and robust finance and insurance growth despite economic headwinds.

Chorus Limited reported a resilient FY25 with modest revenue growth, increased fibre uptake, and a positive net profit, while advancing its all-fibre strategy and sustainability commitments.