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The PM’s Singapore deal and local government reform
Brent Edwards
Sat, 09 May 2026
Fri 08 May 2026 05:55:46pm
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Fri 08 May 2026 05:55:46pm
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Wellington Airport declares $15.7m profit despite ‘pressure’
Wellington Airport has reported a net profit after tax of $15.7 million for the year to the end of March, down from a profit of $27.7m in the prior year.
Aircraft movement and terminal charge revenue rose from $110.4m to $112.2m, while retail and trading activities added $61.4m in FY26 compared with $54.7m the year prior.
Total revenue grew from $185.3m to $194.2m year on year.
The airport experienced a 4% increase in international passengers, which helped it achieve earnings of $133.4m, up from last year’s $130.2m.
Chief executive Matt Clarke said the result was pleasing despite “pressure on regional connectivity and Air New Zealand’s well-known fleet availability issues”.
“We’ve kept a focus on controlling costs and have worked closely with our airline partners on the timing of infrastructure projects. This has put us in a solid position to manage the current challenges facing the aviation industry and the wider economy.”
Macquarie’s A$4.85b profit beats forecasts
ASX-listed investment bank Macquarie Group has reported a better-than-expected A$4.85 billion ($5.88b) annual cash profit, driven by its commodities and markets division and fees in the asset management business.
The result was 30% higher than last year’s A$3.72b, though short of the record A$5.18b posted in 2023.
Macquarie declared a dividend of A$4.20, up from A$3.90.
Earnings in the commodities and markets business were up by 49% to A$4.2 million.
The result had little impact on Macquarie shares, which were 2% lower at A$236.60 today in a lower market.
Fletcher to sell Melbourne property for $65m
Fletcher Building has announced a sale and leaseback deal on a property in Melbourne used by its Laminex subsidiary.
In a statement to the NZX, Fletcher said the conditional agreement with Forza Capital involved the sale of the property at Cheltenham for A$53.8 million ($65m) and a minimum three-year leaseback.
The company said the timeframe would allow for a “broader review of the manufacturing site requirements” for Laminex.
The transaction is expected to complete by the end of June, subject to environmental due diligence and internal governance approvals.
Fletcher said it would generate a gain on sale of about A$14m.
Managing director Andrew Reding said the deal was a further step in optimising the group’s property footprint and contributed to ongoing capital management.
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Fri 08 May 2026 05:52:06pm
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