NZ stocks: Hopes high for more big gains

By ELLEN READ

The interim results season continues this week and the announcements will be eagerly awaited after last week, which was one of the best in years.

Waste Management and Ports of Auckland unveil their numbers today, and Wednesday will bring news from Independent Newspapers and Sky TV.

Thursday's release from rural services company Wrightson may be a little downbeat - the company has warned that its first-half profit will be lower than last year's, despite an improvement in trading conditions.

Chairman John Palmer said better-than-expected trading in December made up ground lost during a difficult spring.

Wrightson usually earns two-thirds of its net profit in the second half of the financial year.

Also on Thursday, the Commerce Commission is due to announce its ruling on the Burns Philp-Goodman Fielder takeover.

Goodman Fielder, Australia's biggest foodmaker, has been trying to find rival bidders after rejecting Burns Philp's A$2.2 billion offer.

Burns Philp, controlled by Graeme Hart, New Zealand's richest man, wants to buy Goodman to gain control of brands such as Uncle Toby's breakfast cereals and Meadow Lea margarine, which will triple his company's sales.