Half the floor of one of New Zealand's biggest new supermarkets at a $40 million Tauranga scheme has been torn up and re-laid, the store's owner says.

The Court of Appeal has found in favour of the Inland Revenue Department in the latest bout of a long-running tax battle with Michael Hill.

Tegel sales and profits beat prospectus forecasts and it's track to achieve targets for the year.

Kiwi Regional Airlines has this afternoon announced that the operation will be wound up.