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Fractional property scheme no stepladder to success
Nicholas Pointon
Mon, 16 Feb 2026
Sun 15 Feb 2026 10:33:53pm
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Sun 15 Feb 2026 10:33:53pm
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Profits more than double at BlueScope
ASX-listed BlueScope Steel has posted a 118% increase in net profit to A$390.8m ($457.9m) for the six months to the end of 2025 as the company booked the sale of its joint venture with Indian conglomerate Tata.
The company, which owns New Zealand Steel, more than doubled its interim dividend to A65 cents from A30c for the same period last year.
The New Zealand and Pacific operations still posted a loss of A$18m for the half, but this was an 11% improvement.
Total group sales revenues were up by 4% to A$8.2 billion on higher benchmark prices and volumes.
BlueScope also slashed its net debt down to A$2.2m from A$28.4m.
Shares in BlueScope have put on more than 15% over the past year, and closed last week at A$29.16.
Earlier this year, the company rejected a A$30 per share offer from a consortium of Australian investor SGH and US-based Steel Dynamics, which valued BlueScope at A$12.4b.
Electronic card spending falls in January
Consumers remain cautious to spend amid a patchy economic recovery, just as the central bank is widely tipped to hold the cash rate steady.
Statistics NZ data today showed spending using debit, credit, and charge cards fell in January, when compared with December, with core retail spending down 0.9%.
There were broad declines across different categories, including hospitality, household durables, and consumables, along with fuel. Spending on motor vehicles and apparel increased.
The data highlights a patchy recovery this year, with expectations that the RBNZ is done and dusted with official cash rate cuts, amid higher inflation. The Monetary Policy Committee releases its latest decision on Wednesday afternoon.
The NZ Institute of Economic Research’s shadow board today suggested the RBNZ hold the OCR at 2.25%.
“Shadow board members agreed that New Zealand’s economic recovery is starting to gain traction, but there remains a considerable degree of spare capacity in the economy.”
THL sells Euro business in $58.3m deal
Listed tourism company Tourism Holdings has landed a deal for its struggling UK & Ireland business assets, announcing a conditional sale to Portugal-headquartered Indie Campers at net asset value plus goodwill of $58.3 million.
THL last August said it was actively exploring divesting that business and reallocating funds to markets where it saw "better returns on effort and investment", having announced a $25.8m after tax loss on the back of impairments of $54.5m in its 2025 financial year.
On Monday, THL said it had reached a deal with Indie Campers. The timing of the sale means THL's second-half underlying ebit will be down by $1.1m, reflecting the loss of the UK & Ireland's high-season earnings period during Q4.
THL boss Grant Webster said: “While we continue to believe in the long-term potential of the business, the market has not delivered the scale required to achieve our original aspirations."
Santana Minerals seeks more capital
Gold explorer Santana Minerals has placed its shares on trading halt ahead of a proposed capital raise.
The Australian Financial Review reported on Monday the dual-listed company was seeking A$120m at A90c a share.
The company gave no details in its trading halt application, but said it wanted the halt “for the purposes of considering and executing a proposed capital raising”.
An announcement is expected by close of play on Tuesday.
Santana is seeking fast-track consent to mine for gold at its Bendigo-Ophir project in Central Otago. The fast-track panel is due to give its decision on October 29.
The company’s shares closed at $1.15 on Friday, A98c on the ASX.
Freightways profit up 17%, helped by recovering NZ economy
Trans-Tasman transport company Freightways has delivered a revenue and profit boost off the back of better economic conditions in New Zealand.
Revenue increased 8.5% to $718.2 million in the six months ended December, compared with the same period in 2024. Net profit after tax rose 17% to $52.5m.
The listed firm said net debt reduced during the period, lowering interest costs and supporting the larger growth in net profit. Its express package and business mail division delivered revenue growth, underlying earnings growth, and margin growth because of ‘same customer’ volume expansion, market share gains, and competitive pricing.
In Australia, Allied Express delivered strong volume growth and improved an underlying performance in a stable operating environment. Elsewhere, the information management and waste renewal division delivered a mixed performance, with flat revenue.
Freightways expects a “steady improvement” in customer volumes in the second half, particularly in New Zealand.
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