Shares in Z Energy jumped 6.6 percent to near the top of its indicative price range in its NZX debut today, valuing the service station chain at $1.49 billion. The stock first traded at $3.73, up from its $3.50 initial public offering price, and recently traded at $3.71, a 6 percent premium to the IPO. The petrol station chain is …

PGG Wrightson, the rural services company controlled by China’s Agria Corp, took a $321 million charge to write off goodwill from its 2005 merger while posting a decline in operating earnings in line with guidance on the effects of this year’s drought. The net loss was $306.5 million in the 12 months ended June 30, from a profit of $24.5 …

APN News & Media, the Australasian publisher of the New Zealand Herald newspaper, returned to profit in the first half of the financial year as it sold assets and clamped down on costs, and is mulling the sale of its underperforming brandsExclusive retail website. The Sydney-based media group reported net profit of A$12.8 million, or 1.9 cents per share, in …

Transpower, the state-owned national electricity grid operator, will pay the government almost $295 million in dividends for this year after annual profit more than tripled. data entry online jobs The Wellington-based company, which isn’t among SOEs slated for partial privatisation, will pay a final dividend of $137 million to the government, adding to its special dividend of $65.7 million declared …

Managers at Fonterra Cooperative Group waited days before escalating a clostridium bacteria contamination that led to a global recall up to chief executive level, according to the dairy giant?s own operational review. As a result of the review, Fonterra is to create a new role of group director of food safety and quality, answering direct to the CEO. It will …

Fonterra Cooperative Group’s tainted food scare has claimed its first scalp with the resignation of NZ Milk Products managing director Gary Romano. Romano, who initially fronted for Fonterra to New Zealand media while chief executive Theo Spierings went to China, has resigned effective immediately, the dairy company said in a statement. Spierings will personally assume interim responsibility for the daily …

SkyCity Entertainment Group shares fell to a seven-month low after the casino and hotel company posted an 8 percent drop in full-year profit that included weaker earnings from its Auckland business. The shares dropped 3.7 percent to $3.95 after the company reported net profit fell to $127 million in the year ended June 30, from $138.9 million, a year earlier. …

ASB Bank, the New Zealand unit of Commonwealth Bank of Australia, boosted full-year cash profit 12 percent as it grew its wealth and insurance business and kept a lid on costs. Cash profit, which excludes one-time items that don’t reflect the underlying business, rose to $699 million in the 12 months ended June 30, the company said in a statement. …

Goodman Fielder, the biggest food company in Australia and New Zealand, has returned to annual profit after two years of restructuring aimed at streamlining its range of brands, exiting unprofitable businesses and paying down debt. Net profit was A$102 million in the year ended June 30, from a loss of $146.9 million a year earlier, the Sydney-based company said in …

Investors would be better to wait until after the Z Energy float to buy shares in the petrol station chain as volatility in the sector means the price is likely to slip in the future, according to research house Morningstar. Z Energy, owned by infrastructure investor Infratil and the New Zealand Superannuation Fund, will list on the New Zealand stock …