Business commentator Calida Stuart-Menteath
Craig Piggott
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Calida Stuart-Menteath is co-editor at the National Business Review
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RNZ News
19 minutes ago
- RNZ News
Skellerup posts record profit
Gumboots were the dress code for the launch of the Te Wai Koiora project at Te Aroha Marae in Kai Iwi north of Whanganui. Photo: RNZ / Robin Martin Rubber goods maker Skellerup has reported record revenues and profits as it prepared to counter the longer term effects of US tariffs. Key numbers for the 12 months ended June compared with a year ago: Chief executive Graham Leaming said the group had consistent performance across the company with a ninth successive year of underlying profit growth. The company, known for its 'red band' gumboots, is also a big producer of components for industrial and agricultural products, and it increased earnings in both divisions, while lowering its finance costs. The US is a key market producing 37 percent of Skellerup's revenue, and Leaming said the company had anticipated tariffs and built up stock levels before the tariffs were imposed, and looked to control costs and adjust prices. "Also, and importantly - both ahead of and post their imposition - we have been investing in modernising our manufacturing capability to build a more flexible platform capable of in-market deployment." The tariffs are expected to cost the company $5 million in the current year. Chairperson John Strowger said the company's business was durable but it was looking to expand manufacturing overseas. "It will be important to develop new markets for our products - the establishment of in-market capability would result in capacity at existing facilities. The management team is undertaking work in this area now. "Some of the future initiatives we may implement - in particular, if the establishment of in-market capability is pursued - will be more significant, from both a financial and operational perspective."
RNZ News
19 minutes ago
- RNZ News
Steven Joyce appointed to Foodstuffs North Island board
Steven Joyce. Photo: RNZ / Rebekah Parsons-King Former National cabinet minister Steven Joyce has been appointed to the Foodstuffs North Island company board. Foodstuffs confirmed on Wednesday that Joyce would join the board of directors from 25 August. Joyce was recently voted in as chair of NZME , which owns the New Zealand Herald . The 62-year-old retired from politics in 2018, and has since been advising organisations on business strategy and reputation management. Foodstuffs North Island chair Dean Waddell welcomed the appointment, and said Joyce's experience would be invaluable to the co-operative. "Steven's combination of commercial expertise, governance experience, and understanding of New Zealand's economic and infrastructure challenges will be a tremendous asset to our board. He knows what it takes to lead through change, and he shares our commitment to helping New Zealanders get more out of life," he said in a statement. Waddell said the appointment came at a pivotal time for Foodstuffs and the industry. "The grocery sector is operating in a newly regulated environment, and we've committed from the outset to making regulation work well for customers, suppliers, and retailers alike. We have a broad programme of work underway to strengthen competition, improve efficiency, and be able to be lower cost and compete to deliver great outcomes for New Zealanders. "Steven's deep experience in infrastructure, regulation, and large-scale business transformation will be a real asset as we deliver on that programme and position the co-op for the future, embracing new technologies, driving innovation and finding new ways to deliver even more value to New Zealanders in the years ahead." Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
RNZ News
19 minutes ago
- RNZ News
Auckland Council meets to decide if it will support new intensification plan
The government will require Auckland Council to allow apartments of at least 15 storeys around three City Rail Link stations. Photo: RNZ / Kate Newton Auckland Council is meeting to decide whether it will support and consult on a plan to increase intensification and strengthen hazard rules for new buildings. The draft changes to the Auckland unitary plan aim to replace Plan Change 78, while retaining its focus on housing in town centres. The council's Policy and Planning Committee is meeting on Thursday to discuss the changes that would allow for more apartments and terrace homes in walking distance of train and bus stations, more restrictive consenting requirements to increase resilience, and an increase in mixed housing suburban zones. Council will decide if it wants to endorse the plan to go out for consultation with iwi authorities, government, and local boards. It will have to decide in September whether it will withdraw from Plan Change 78 and proceed with the replacement plan. In June, the government announced it would require Auckland Council to allow apartments of at least 15 storeys around the Mount Eden, Kingsland, and Morningside Stations, and 10 storeys around the Mount Albert and Baldwin Avenue stations. The changes will be part of the Resource Management (Consenting and Other Matters) Amendment Bill which allows Auckland Council to withdraw its intensification plan change, PC78, with a requirement to notify a new plan change by 10 October this year. In June, Housing Minister Chris Bishop said the new directive from the government was supported by Auckland mayor Wayne Brown and most councillors. It was important to unlock housing capacity around public transport in Auckland, Bishop said. Auckland Council recently approved a zoning change for the city centre to allow unlimited building heights for a small section of the central business district and double height limits for the rest of the city centre to 20 storeys, or 72.5 metres. It expects that will allow four times the number of homes and businesses to be built in the central city. Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
