26 Feb 2019

Today's business news: What you need to know

6:36 pm on 26 February 2019

All the latest news from the business world in one place, brought to you by the RNZ Business team.

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Photo: RNZ/ Nick Monro

Latest - The tourism industry says it's becoming more sustainable.

The industry organisation, Tourism Industry Aotearoa, said it's measured a slight improvement against eight economic, host community, visitor and environmental sustainability goals since 2017.

It's aiming to make New Zealand a world leader in sustainable tourism by 2025.

Budget Loan's appeal dismissed

The High Court at Auckland has dismissed Budget Loans's appeal against the sentence imposed on it over misrepresentations made by the company while collecting loans.

The court said the offending is among the most serious of its kind.

Budget Loans has been fined $720,000 in the Auckland District Court on 125 charges under the Fair Trading Act.

It's also been ordered to pay reparation totalling $109,000.

Kiwifruit demand boosts Seeka's net profit

Demand for kiwifruit has boosted the half year net profit of the fruit producer Seeka, by 27 percent to $7.4 million.

Most of its revenue came from harvesting services for kiwifruit, kiwiberries and avocado, but it had to impair goodwill on its underperforming banana business, and fought off a PSA outbreak in Australia.

Delegat net profit up 30 percent

Wine producer Delegat has served up a strong first half profit with increased revenue.

The company's net profit is up 30 percent to $25.3 million, with a 13 percent increase in sales.

Air NZ passenger numbers up for November

Air New Zealand's new routes to Taipei and San Francisco helped drive up Auckland Airport's passenger numbers, by almost four percent in November.

The country's main tourism gateway saw international passenger numbers rise 4.7 percent on the previous year, although travellers to China fell almost 10 percent, and to Japan by 14 percent.

Air New Zealand also announced today it's reducing domestic route prices click here for the story.