28 Nov 2014

Business Briefs

1:52 pm on 28 November 2014

A round-up from Radio New Zealand's business reporters: today, a higher six-month loss for VMob; a retirement for Mighty River Power; a milestone for GJ Gardner.

VMob reports nearly $2 million loss

Mobile marketing platform VMob has reported a higher six-month loss as it continues to invest in staff and technology development.

It said the loss was almost $2 million in the six months to the end of September, compared with a $738,000 loss the same time last year.

Revenue jumped to $502,000, compared with $131,000 last year.

VMob said its ongoing investment would give the firm the scale it needed to take advantage of the growing international demand for mobile marketing.

Tania Simpson to step down

A long-serving director at Mighty River Power, Tania Simpson, says she will retire from the board next year.

She has been with the firm more than 13 years.

The company's chair, Joan Withers, said Ms Simpson had played a key role as chair of the human resources committee, including in the recruitment of the company's new chief executive, Fraser Whineray.

Ms Simpson was appointed to the Reserve Bank's board in June this year. She is also a director of AgResearch and a member of the Waitangi Tribunal.

She will step down from the Mighty River board in June.

GJ Gardner hits 10,000 houses

New Zealand builder GJ Gardner is about to reach a milestone with the construction of its 10,000th house.

The company has been building in this country for 17 years.

It said construction of the milestone property, near Auckland, was due to start this week.