Latest - Furniture and appliance retailer Smiths City has trimmed its losses, but it has seen its revenue fall as it closed stores to counter lower consumer demand.
Smiths City reported a net loss of $1.7m for the year to April. Photo: Google Maps
The company's reported a net loss of $1.7 million for the year ended April, compared with last year's $7.2m loss.
A reasonable performance from Smiths City's finance division wasn't enough to make up for the weaker trading environment and pressure on its margins.
The company also spent $1m to move an underperforming store on Auckland's North Shore.
Abano Healthcare reviews its assets
The dental practice owner is considering changing its asset mix and capital structure.
In a trading update, the company, which owns Lumino The Dentists here and Maven in Australia, said it was reviewing various unspecified expressions of interest.
It's reaffirmed its lowered guidance for the full year, with earnings expected to be $32.7 million and net profit $10.1m.
That's despite having a tough month in May, with sales down nearly 3 percent in Australia.
Abano chief executive Richard Keys said the company was looking to invest further in its New Zealand network to keep up growth.
Over 65s now eligible for KiwiSaver
New Zealanders aged over 65 are no longer locked out of KiwiSaver and won't have to wait a minimum period before withdrawing their funds.
Previously, the scheme was only available to those under 65, and anyone who joined between 60 and 64 could not take out their funds for five years, despite reaching the age of eligibility before that time was up.
However, employers of over 65s are not obliged to contribute to their workers' fund.
The access changes take effect from today.