A round-up from Radio NZ's business desk - Berl says the economy is slowing but no need to panic, Tourism Holdings is picking it will make a profit of at least $30 million, Coats Group reports lower first half year operating profit.
'No need to panic over slowing economy'
The economic forecaster, Berl, says the economy is slowing, but there's no need to panic.
Its chief economist, Ganesh Nana, said falling dairy prices and the waning of the Christchurch rebuild had been expected.
"As they come off the boil, we will have a slow down in grow, a little bit below average and then with a bit of luck, manage to maneuver our way back towards our long-term average of about 2.5 percent," he said.
Mr Nana said migration, construction and a declining New Zealand dollar would help cushion the economy.
But he warned there were risks if people talked themselves into a downturn, or the Reserve Bank gets cold feet and does not reduce interest rates enough because they saw ghosts of inflation.
Tourism Holdings picking $30m profit
Tourism Holdings is picking it will make a profit of at least $30 million dollars from its existing businesses in the 2019 financial year.
That is double its current expectation of between $19.5 million and $20 million for the 2015 June year.
The forecast came after the campervan rental and tour guide company carried out a review of its capital structure.
The company said it intended to remain listed and it was targeting a dividend payout of between 75 to 90 percent.
Tourism Holdings said it was also focusing on growing through acquisitions.
Coats Group reports lower profit
Coats Group has reported a lower first half year operating profit.
The thread maker, formally known as Guinness Peat Group, said its profit fell to $US52.3 million in the six months to the end of June, compared with $US59.1 million in the same period a year earlier.
Revenue fell to $US748.1 million.
Coats said the business performed well, and improved its market share in its core apparel and footwear business.
