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Oral submissions on Regulatory Standards Bill wrap up
Brent Edwards
Sat, 12 Jul 2025
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Some New World Clubcard accounts hacked
An undisclosed number of New World supermarket loyalty customers have had their accounts compromised. The company sent an email to select Clubcard members this afternoon, advising them of a recent “cybersecurity incident”, which may have led to their accounts being compromised. It said its tech team had noticed scammers attempting to access members’ accounts by using commonly used passwords. Accounts with weaker or re-used passwords may have been successfully accessed. New World stated that its systems have not been breached. The company has disabled the redemption of New World ‘dollars’ and removed the encrypted token representing customers’ credit cards, meaning shoppers will need to re-enter their details the next time they shop online.
In a statement, Foodstuffs said no personal credit card data has been compromised and that it has asked affected customers to reset their passwords.
Foodstuffs would not disclose how many customers were affected or when breaches occurred.
Manufacturers report a ‘major slowdown’ in activity during June
The manufacturing sector remained in contraction in June, with weak production and employment prospects, according to the latest BNZ-BusinessNZ Performance of Manufacturing Index.
The index was at 48.8 last month. A reading below 50 indicates the sector is in contraction. The survey was well below the average of 52.5.
Four of the five main sub-index values were in decline, while new orders sat at 51.2. Production was at 48.6 and employment was 47.9, after a drop in activity from the month before.
The proportion of negative comments was roughly the same as May, with manufacturers noting a “major slowdown” because of weaker consumer demand, high living costs, and economic uncertainty.
Falling construction activity, rising input costs, and global instability were also a handbrake on orders and cashflow, while supply chain issues added further pressure.
Tait rules out raising value of Vital offer
Tait International will not increase its offer for NZX-listed Vital Limited “under any circumstances”, according to a market filing.
In May, Tait said it intended to make a full takeover offer for the company at 45 cents a share, payable in cash and subject to a 90% minimum acceptance condition.
Last week Vital’s board recommended its shareholders accept the offer, despite it being “at the low end” of independent adviser Grant Samuel’s range.
“While the Grant Samuel report and recent media commentary speculate that Tait may be willing to pay a higher price, Tait is of the view that its offer is at the maximum of Tait’s value assessment considering all relevant information, including the risks of executing Vital’s business plans in highly competitive markets, as well as any potential synergies for Tait," it said.
“For this reason, Tait will not increase its offer under any circumstances.”
In a separate filing today, Tait revealed the level of acceptances for its offer had reached 28.5%.
WasteCo chief operating officer follows CEO out the door
Chris Brown, the chief operating officer for NZX-listed waste management business WasteCo, has resigned and left immediately, the company said today.
His resignation follows former CRO David Peterson stepping down from his role at the end of June.
The board is still searching for a new CEO and, in the interim, chair Roger Gower has assumed an executive role.
In late May, the company announced it had won a $40 million, nine-year solid waste management contract with the Ashburton District Council covering more than 12,000 households.
At the same time, NBR Rich lister Wayne Wright disclosed a 16.8% stake in the company that interests associated with him had built up since last December.
WasteCo’s shares have dived more than 48% in value in the past year and are now trading at 1.7 cents per share.
Ryman reports lower Q1 sales year-on-year
Ryman Healthcare's first quarter unit sales were 11% lower than a year ago.
The NZX-listed retirement village provider has reported it sold 337 units in the three months ended June, comprising 76 new sales and 264 resales.
While total sales were down on the prior year, they were up 12% on the previous quarter.
The overall decline is not entirely surprising, given the company forecast total sales for FY26 would be between 72% of and 85% of what they were in FY25.
Meanwhile, gross contracts, which are a lead indicator for unit sales, climbed to 91%, from 75% and 60% in the prior two quarters.
Ryman chief executive Naomi James said the company has continued to see improving contracting and sales levels since increasing its deferred management fees last year.
“We still expect variability throughout the year given the flow-through impacts of softer contracting in the second half of last year and mixed market conditions.”
FY26 sales were tracking towards the upper end of its guidance.
PGW bumps guidance on better growing conditions
Listed rural services group PGG Wrightson says solid commodity pricing and favourable growing conditions will help boost its operating earnings before interest, tax, depreciation, and amortisation to $54 million, up on the prior guidance of $51m for the year to June.
Chair Garry Moore said several businesses had performed ahead of expectations, led by livestock and real estate, which delivered a strong turnaround on last year. The livestock business benefited in particular from the 26% jump in sheep values from pre-Christmas levels.
Returns from kiwifruit and apples had also added lustre to horticulture returns and lower inflation and interest rates were supporting "renewed optimism" from farmers, Moore said.
The listed company is due to issue its audited results on August 12.
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