March, 2024 - The Profit

William Horvath

12 months on from Gabrielle – the impact on claims and insurance premiums

It is hard to believe that a year has already passed since Cyclone Gabrielle devastated our region. What has happened a year on regarding insurance claims, and how will it affect your premiums moving forward? As at 13 December 2023, insurers had settled 99,798 of 115,353 claims (about 87%) from the Cyclone Gabrielle and Auckland Anniversary events, according to the...

Acquisition of Bostock Brothers Limited in New Zealand

Inghams Group Limited (ASX: ING) (Inghams, Company) today announces its intention to acquire 100% of the Bostock Brothers organic chicken business in New Zealand for NZ$35.3 million (approximately A$33.0 million). Key points Acquisition of New Zealand’s only organic poultry producer with premium market position is strongly aligned with Inghams strategy Acquiring 100% of the shares in Bostock Brothers Limited (BBL),...

Flood protection work in Hawke’s Bay a step closer

Cabinet has agreed to engage on a proposal for a temporary change to legislation under the Severe Weather Emergency Recovery Legislation Act 2023 (SWERLA), which would speed up the delivery of flood protection work across Hawke’s Bay. On the back of Cyclone Gabrielle, Hawke’s Bay Regional Council has earmarked seven areas where new flood infrastructure would see category 2A and...

Large scale development gets fast track consent approval

Wairatahi, a large scale residential development in Hastings owned by Heretaunga Tamatea Pou Tahua – the commercial arm of Tamatea Pōkai Whenua, (formerly Heretaunga Tamatea Settlement Trust) - has secured approval to go ahead via the Government’s fast track consent process. Tamatea Pōkai Whenua (TPW) chair Pōhatu Paku said the Covid-19 Recovery Fast-Track Consent decision was a significant outcome for...

Tātau Tātau Commercial make significant investment into iconic local landmark

One of New Zealand’s most iconic beach-side holiday parks will continue to welcome thousands of holiday makers while remaining in local ownership. Tātau Tātau o Te Wairoa Trust’s commercial entity today announced its purchase of the Mahia Beach Motel & Holiday Park, securing an asset that is pivotal to the Wairoa and Mahia community and local economy. This beautiful piece...