West Auckland s Grinding Gear Games clocks huge profit amid pandemic
15 Mar, 2021 04:00 PM
4 minutes to read
New Zealander Chris Wilson accepts British Academy Games Award for Best Evolving Game while still in lockdown. Video / BAFTA
New Zealander Chris Wilson accepts British Academy Games Award for Best Evolving Game while still in lockdown. Video / BAFTA
West Auckland-based, China-owned Grinding Gear Games has seen another big jump in revenue and profit amid global lockdowns. The Henderson-based company booked $113.4 million revenue for the 12 months to September 30, 2020 - versus the $99.2m it booked in 2019 and its 2018 receipts of $73.3m.
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Pre-tax profit was $77.4m, after-tax profit $51.9m (vs $48.6m in 2019 and $33.4m in 2018).
Auckland, Grey Lynn home sells for $755,000 profit in seven months
13 Mar, 2021 04:00 PM
4 minutes to read
This Grey Lynn house resold earlier this week for a profit of about $100,000 a month higher than its previous sale in August. Photo / Supplied
Ben Leahy is a reporter for the New Zealand HeraldBen.Leahy@nzherald.co.nz
An Auckland villa bought last August has just been resold for a $755,000 resale jump - netting its owners more than $100,000 in capital gains per month.
The three-bedroom Grey Lynn home at 3 Schofield St sold at auction for $2.55 million on Wednesday as house prices continued to skyrocket.
The owners earlier paid $1.825m for the villa in August, with marketing photos from the time appearing to show little had been done to improve the property leading up to its incredible resale profit.
Business
March 12, 2021
KARACHI: Remittance inflows into Pakistan jumped by nearly 24.2 percent in February to $2.266 billion as government incentives attracted people abroad to send more money home through formal channels, the central bank reported on Thursday.
Workers’ remittances reached an unprecedented level of $18.7 billion in the eight months of the fiscal year, up 24.1 percent, compared with the same period a year ago.
“Policy measures undertaken by the government and SBP (State Bank of Pakistan) to encourage inflows through formal channels, limited cross-border travel due to COVID-19, medical expenses and altruistic transfers to Pakistan amid the pandemic, and orderly exchange market conditions, contributed to this sustained rise in workers’ remittances,” the SBP said.
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HELSINKI (Reuters) - Fortum on Friday reported a jump in fourth-quarter profit helped by German subsidiary Uniper but its core power generation business missed forecasts, knocking shares in Finland s biggest utility.
Comparable operating profit rose to 928 million euros ($1.11 billion) from 398 million a year earlier, beating the 864 million expected by analysts, Refinitiv Eikon data showed. When taking into account that Uniper s result was better than expected, the operating result of the old Fortum was a slight disappointment, said Inderes analyst Juha Kinnunen.
Its power generation unit reported a fall in operating profit to 177 million euros from 239 million a year earlier reflecting low power prices and low nuclear volumes and missing the 198 million expected by analysts in a poll provided by the company.
U.S. Dollar Regains Ground Amid Jump In Bond Yields
WASHINGTON (dpa-AFX) - After trending lower over the past few sessions, the value of the U.S. dollar has shown a modest move back to the upside during trading on Friday.
The U.S. dollar index has pulled back after reaching a high of 91.96 but is currently up 0.2 percent at 91.64.
The greenback is trading at 109.04 yen versus the 108.51 yen it fetched at the close of New York trading on Thursday. Against the euro, the dollar is valued at $1.1956 compared to yesterday s $1.1986.
The increase in the value of the dollar comes amid a jump in bond yields, with the yield on the benchmark ten-year note surging back above 1.6 percent to its highest levels in over a year.