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Prime Minister Christopher Luxon has given an assurance that New Zealand still has plenty of fuel in stock or on its way. Luxon told reporters on Wednesday afternoon there were 56 days' worth of petrol either here or on its way, 45 days of diesel and 47 days of jet fuel. While stocks were lower than the previous update, he said the change was not significant enough for the Government to change its fuel alert setting from phase one. But Luxon said with the ceasefire in the Iran war still fragile, the risk remained elevated. Petrol prices remained high and while he would love to tell people when prices would come down, that was not something anybody could predict. Luxon said a fuel shortage here would have a much worse economic impact than higher fuel prices, which was why the Government continued to work to shore up the country’s supplies.
Auckland’s population is predicted to reach a record 2 million people by 2033, according to Statistics NZ. The data agency today said international migration had become the main driver of population growth in the region, with two in five Aucklanders now born overseas. By June last year, the population had reached 1.82 million and is expected to reach the 2 million milestone by 2033, although that could be achieved earlier or later depending on migration. The Auckland population grew on average 1.7% each year between 2000 and 2025. Over the same period, the rest of New Zealand’s population expanded 1.1% annually. The 2023 Census showed that 43% of Auckland’s population was born overseas. Just under half of those were born in Asia, with China and India the most common. Outside of Asia, the Pacific Islands were the next most common overseas birthplace.
State-owned Landcorp, which trades as Pāmu, has paid a special dividend of $10 million to the Crown, bringing its total dividends for the 2025/26 year to $25m. Pāmu chief executive Mark Leslie said the dividends reflected the progress the company had made in strengthening performance and building balance sheet resilience. It also reflected a capital repayment of $9.5m from Fonterra after the cooperative sold its Mainland consumer business. SOE Minister Simeon Brown said the dividend payments demonstrated confidence in Landcorp’s financial position and its ability to deliver consistent value for taxpayers. “I’m pleased to see the continued improvement in Landcorp’s performance, with recent half-year results pointing to a strong full-year outcome, supported by improved operations and favourable commodity prices,” Brown said.
Small listed aged care provider Promisia Healthcare has reported a broad-based lift in occupancy across its facilities and reiterated its full-year guidance. In a fourth-quarter trading update, the company said group care occupancy averaged 94% over the three months ended March, up from 92% in the prior quarter. The rise was felt across most of the five sites the company operates, except for its facility in Ripponburn, which recorded a “small” decrease. The company also lifted care suite sales, with 55 of the 57 suites at Ranfurly Manor in Feilding now occupied, up from 52 in the prior quarter. Promisia also reaffirmed its full-year earnings guidance, with its earnings before interest, tax, depreciation, amortisation and finance costs expected to be within $6.4m and $6.8m. Promisia will release its preliminary accounts at the end of May.
Dual-listed retirement village operator Ryman Healthcare expects to report a large lift in free cash flow and a reduction in debt when it releases its full-year financial accounts next month. The company's fourth-quarter trading shows it expects free cash flow of $180m for the year ended March, up from negative $94.2m in the year prior. The company’s net interest-bearing debt is also expected to fall to $1.57 billion from $1.67b. Ryman reported a total of 331 unit sales in the three months ended March, which was up 10% on the same period a year ago, but down on the prior quarter. Over the year, Ryman sold a total of 1410 units. After accounting for internal relocations from closing villages to newer ones, total sales were 1371, which was within its guided range. The company said the conflict in the Middle East has not impacted the broader business to date, but it continues to monitor the flow-on effects. Ryman's audited full-year accounts will be released on May 26.
NZ Rural Land Co director Chris Swasbrook has resigned and will leave the board on April 30. The farmland investment company gave no reason for his exit but the board thanked him for his contribution as a director since the company was formed in September 2020. Swasbrook remains a director of NZX-listed electronic component maker Rakon, fund manager Elevation Capital, and McCashin’s Brewery. He is also on the board of the Financial Markets Authority and chair of the Auckland Future Fund.
