Premium apple demand is at the core of a strong financial result for T&G Global.

Its revenue has increased by 14% to $1.6 billion and its net profit after tax is $16 million, up from a loss of $9.9m.

Global Chief Executive Gareth Edgecombe told Heather du Plessis-Allan that the Chinese and US markets in particular have been buying more of the premium Jazz, Jolie and Envy apples.

LISTEN ABOVE

Premium apple demand is at the core of a strong financial result for T&amp;G Global.
Its revenue has increased by 14% to $1.6 billion and its net profit after tax is $16 million, up from a loss of $9.9m.
Global Chief Executive Gareth Edgecombe told Heather du Plessis-Allan that the Chinese and US markets in particular have been buying more of the premium Jazz, Jolie and Envy apples.
LISTEN ABOVE

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. 

Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers.

Best of Business

Gareth Edgecombe: T&G Global Chief Executive discusses strong financial result from premium apple demand

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/d1282739-e3ab-4794-b13d-b3fe005d85e7/transcript

It's looking to be a rough season for our meat processing sector, with companies struggling to compete with abundant grass and a turbo-charged store stock market.

Some companies have dropped published lamb and beef schedules by 10c/kg, and the decline has prompted concerns. 

The Country's Jamie Mackay explained further.

LISTEN ABOVE

It's looking to be a rough season for our meat processing sector, with companies struggling to compete with abundant grass and a turbo-charged store stock market.
Some companies have dropped published lamb and beef schedules by 10c/kg, and the decline has prompted concerns.&nbsp;
The Country's Jamie Mackay explained further.
LISTEN ABOVE

Jamie Mackay: The Country host on meat processors struggling to get stock onto lines

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/4fd62f24-ed14-4abd-bf5a-b3fd006b6bd1/transcript

So David Seymour’s right about Air New Zealand - but he’s also wrong about Air New Zealand.

Before we get to why, let me bring you up to speed on what’s happened with the airline today, because the news is not good.

Air New Zealand has posted a half-year result showing a $59 million pre-tax loss, which is slightly worse than expected. And to be fair to Air New Zealand, a lot of this really isn’t their fault. 

They’ve had not one, but two engine types in their fleet causing them trouble. And the economic downturn we’re experiencing in New Zealand - the worst in most of our lifetimes, you have to go back more than 50 years to find anything as bad - directly affects their earnings. 

If we don’t have money, we’re certainly not spending money on flights.

But some of this is their fault. They’re squandering customer loyalty with poor on-time performance and a tired, diminished Koru Club offering.

And this is where David Seymour is right when he says, “Go woke, go broke.”

Because part of the reason Air New Zealand is losing customers to Jetstar is that there are people who no longer want to pay for Koru Club. The offering has slid from the good old days. You can’t even - and this bugs people more than the airline ever seemed to realise -  go into the lounge, ask for a coffee, and take it away like you can at a café.

There are no takeaway coffees because Air New Zealand doesn’t want paper cups going on planes. Paper cups are bad for the environment… when you’re flying planes.

They’ve wasted time and money trialling an electric aircraft they don’t actually know how to integrate into their fleet. And they’re constantly lecturing the government about sustainable aviation fuel - SAF - which is more expensive than standard jet fuel, and standard jet fuel is already extremely expensive right now.

But here’s where David Seymour is wrong - he says the solution is to sell down the Government’s 51 percent stake in Air New Zealand.

We can’t do that.

We are an isolated island nation. There are only two ways to get here - by boat or by plane, and we all know which one people actually use. 

We need to own those planes to make sure they keep flying. If we learned anything during COVID, it’s that Air New Zealand effectively became a logistics lifeline and repatriation service for the entire country.

So yes, David Seymour is part right and part wrong. We do need Air New Zealand to stop the distractions and start doing its job properly. And we do need it to remain in New Zealand hands.

So David Seymour’s right about Air New Zealand - but he’s also wrong about Air New Zealand.
Before we get to why, let me bring you up to speed on what’s happened with the airline today, because the news is not good.
Air New Zealand has posted a half-year result showing a $59 million pre-tax loss, which is slightly worse than expected. And to be fair to Air New Zealand, a lot of this really isn’t their fault.&nbsp;
They’ve had not one, but two engine types in their fleet causing them trouble. And the economic downturn we’re experiencing in New Zealand - the worst in most of our lifetimes, you have to go back more than 50 years to find anything as bad - directly affects their earnings.&nbsp;
If we don’t have money, we’re certainly not spending money on flights.
But some of this is their fault. They’re squandering customer loyalty with poor on-time performance and a tired, diminished Koru Club offering.
And this is where David Seymour is right when he says, “Go woke, go broke.”
Because part of the reason Air New Zealand is losing customers to Jetstar is that there are people who no longer want to pay for Koru Club. The offering has slid from the good old days. You can’t even - and this bugs people more than the airline ever seemed to realise -&nbsp; go into the lounge, ask for a coffee, and take it away like you can at a café.
There are no takeaway coffees because Air New Zealand doesn’t want paper cups going on planes. Paper cups are bad for the environment… when you’re flying planes.
They’ve wasted time and money trialling an electric aircraft they don’t actually know how to integrate into their fleet. And they’re constantly lecturing the government about sustainable aviation fuel - SAF - which is more expensive than standard jet fuel, and standard jet fuel is already extremely expensive right now.
But here’s where David Seymour is wrong - he says the solution is to sell down the Government’s 51 percent stake in Air New Zealand.
We can’t do that.
We are an isolated island nation. There are only two ways to get here - by boat or by plane, and we all know which one people actually use.&nbsp;
We need to own those planes to make sure they keep flying. If we learned anything during COVID, it’s that Air New Zealand effectively became a logistics lifeline and repatriation service for the entire country.
So yes, David Seymour is part right and part wrong. We do need Air New Zealand to stop the distractions and start doing its job properly. And we do need it to remain in New Zealand hands.

Perspective with Heather du Plessis-Allan: Was David Seymour right about Air New Zealand going 'woke'?

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/151b826b-4561-4dfc-8978-b3fd0068719c/transcript

Sky TV says even though it's had a strong first-half financial year result - the television market remains challenging.

It's reported a $52 million net profit, turning around a $1.7 million loss last period.

Its revenue rose eight percent, to about $414 million.

Sky TV chief executive Sophie Moloney says revenue for traditional TV was softer than expected.

"The TV side does seem to be suffering a bit more than others, so I do think it's incumbent on us to make sure that we're talking about that value and allowing our clients to see the benefits."

LISTEN ABOVE

Sky TV says even though it's had a strong first-half financial year result - the television market remains challenging.
It's reported a $52 million net profit, turning around a $1.7 million loss last period.
Its revenue rose eight percent, to about $414 million.
Sky TV chief executive Sophie Moloney says revenue for traditional TV was softer than expected.
"The TV side does seem to be suffering a bit more than others, so I do think it's incumbent on us to make sure that we're talking about that value and allowing our clients to see the benefits."
LISTEN ABOVE

Sophie Moloney: Sky TV chief executive on the 'challenging' market factors impacting their results

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/5e6c7c71-f35a-46b5-b426-b3fd005f82cd/transcript

Gareth Edgecombe: T&G Global Chief Executive discusses strong financial result from premium apple demand

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