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Sale of South Island’s largest apple grower falls over
Karyn Scherer
Thu, 21 May 2026
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Wed 20 May 2026 11:10:04pm
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Wed 20 May 2026 11:10:04pm
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Blis Technologies reports double-digit annual revenue growth
Blis Technologies has reported revenue up 16% to $14.7 million for the year ended March, but net profit after tax declined to $700,000 from $800,000. The listed probiotic maker reported strong growth in its business-to-business ingredient and private label revenue, and continued business-to-customer momentum. Its earnings were impacted by a one-off supply chain cost increase of $900,000. After adjusting for this, its underlying ebitda for FY26 totalled $1.8m. During the year, Blis resolved its patent issue with two customers, which resulted in the patents being jointly owned and a five-year extension to the existing supply agreement. Blis also revised its license and distribution agreement with Probi AB, which extended Probi's rights to two probiotic strains across North America and certain markets across Europe, the Middle East and Africa. Probi AB holds 13% of Blis and is the company's second-largest shareholder.
Tower reports profit and revenue drop in first half
Listed insurer Tower has reported a drop in first-half profit after adjusting for ongoing customer remediation costs arising from historic discount errors. The company’s net profit was $22.9 million in the six months ended March, down from $49.7m last year. Revenue fell 2% to $291.2m. Tower said there was a more challenging operating environment, including pricing pressure, elevated weather-related claims, and global economic volatility. The previous first half benefited from unusually benign weather conditions. The gross written premium rose 1% to $301m, while customer numbers rose 5% to 327,000. A first-half dividend of 5 cents per share was declared. Tower maintains a $45m large events allowance and recorded four large events in the first half, with an estimated cost of $18.5m. Wellington flooding in April will be recorded as a large event in the second half, with an estimated cost of $5m.
My Food Bag revenue and profit up, but cost pressures also rise
Listed food delivery company My Food Bag has reported that revenue rose 5% to $170.2 million for the year to March 31, driven by higher volumes, improved brand mix, and stronger customer retention and engagement. Net profit after tax also increased 5.3% to $6.7m. My Food Bag chief executive Mark Winter said the 2026 financial year marked a clear step forward for the company. "We are seeing the impact of the work we have done to strengthen our proposition, with higher retention, increased order frequency and more consistent customer engagement." A final dividend of 1.15 cents a share will be paid in June. The company said that fuel supply disruption had increased distribution costs, and further ingredient cost pressures were also emerging. However, it was mitigating the impact through supply chain optimisation and cost control where possible. Trading for the first seven weeks of FY27 showed revenue growth of 5.1%
Siren Gold mining application at Sam's Creek declined
An application for a mining permit at Sam’s Creek in Golden Bay by ASX-listed gold explorer Siren Gold has been declined.
In a statement to the ASX on Wednesday, Siren Gold said it was reviewing the decision by NZ Petroleum & Minerals.
After a trading halt put in place pending the announcement was lifted, Siren shares fell 33% to trade at A5.6c mid-afternoon Sydney time.
Siren’s exploration permit for the 3046ha area expired on March 31. Its application for a mining permit was subject to an application for judicial review by lobby group Save Our Springs, which argued it should not have been accepted as complete by the Ministry of Business Innovation & Employment.
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Wed 20 May 2026 11:02:34pm
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