Rocket Lab has completed the first full assembly of its Archimedes engine, the new 3D-printed, reusable rocket engine designed to power its in-development Neutron medium lift launch vehicle.
The Nasdaq-listed space company has now begun an intensive test campaign that will feature a number of engine system activations leading up to a first Archimedes “hot-fire”.
The engine test and development campaign is a key driver of the schedule for Neutron’s first launch, which Rocket Lab said is now expected to take place from mid-2025.
At its Q4 results update in February the company was targeting its first Neutron launch by the end of 2024, but warned timing would depend on the speed of development and testing.
CEO Peter Beck said his team had taken more time to bring a “mature” design to the testing phase, meaning the timeline had pushed out slightly, but he believed the approach would “deliver the frequent flight rates the market needs quickly after flight one”.
NZX-listed retailer Briscoe Group reported first quarter trading with total sales of $183 million, up 1% from $181.2m year on year.
The first quarter ended April 28 saw homeware sales down 1% to $108.7m, but the period was bolstered by sporting sales up $74.3m.
Briscoe Group managing director Rod Duke was pleased with the result given the challenging retail environment.
“Like all retailers we continue to see margins being challenged. We are very aware of the pressure on consumer spending."
Inventory was said to be well-controlled and finished the quarter about 8% lower across homewares and sporting goods.
"By maintaining our focus on how we construct, execute and analyse promotions, as well as relentless attention to controlling costs, the group’s bottom-line net profit after tax (npat) for this first quarter will be in line with the same time last year."
Duke expected retail to remain "highly challenging" throughout the remainder of 2024.