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Fisher & Paykel Healthcare, which makes breathing masks and respirators, expects to beat analyst expectations for 2014 profit as it surpassed its own guidance for 2013 profit today as a result of revenue growth, improved gross margins and operating efficiencies. The shares rose to a two-and-a-half year high. Profit is likely to be $85 million to $90 million in the …

Rakon, which makes crystal oscillators used in smart phones and navigation systems, plunged deeper into the red after writing down the value of its Chinese and New Zealand units, and posting underlying earnings at the bottom of its twice-downgraded guidance. The Auckland-based company made a loss of $32.8 million, or 17.1 cents per share, in the 12 months ended March …

Comvita, which produces health products from manuka honey and olive leaves, posted a 10 percent decline in full-year profit, beating its own guidance as it coped with a shortage of honey and higher costs. Net profit fell to $7.37 million, or 24.52 cents a share, from $8.2 million, or 27.85 cents, a year earlier, the Te Puke-based company said in …

Argosy Property reported a jump in full-year profit after earnings in the previous year were eroded by the costs of internalising its management contract. Net property income fell 1.8 percent. Profit was $39.2 million in the 12 months ended March 31, from $1.9 million a year earlier, when it spent $20 million internalising its management contract. Distributable earnings, the favoured …

The New Zealand dollar fell after US Federal Reserve Chairman Ben Bernanke said the central bank may taper monthly bond purchases at its next few meetings if it’s confident of sustained gains in the economy. The kiwi dropped to 80.64 US cents from 81.47 cents at 5pm in Wellington yesterday. The trade-weighted index fell to 76.38 from 76.82 yesterday. The …

US stocks and bonds fell, both giving up earlier gains, after Federal Reserve chief Ben Bernanke suggested the central bank might scale back stimulus measures as early as at its next meeting. “If we see continued improvement and we have confidence that that is going to be sustained, then we could in-in the next few meetings, we could take a …

DNZ Property Fund, a diversified property investor, reported a 14 percent fall in annual earnings and plans to raise $80 million in a placement to institutional investors and a share purchase plan to help pay for two new acquisitions. Distributable profit, property investors’ favoured measure of earnings which strips out unrealised movements in the value of their portfolios, fell to …

The New Zealand dollar weakened against its US counterpart amid speculation growth in the world’s largest economy may spur the Federal Reserve to reduce stimulus, known as quantitative easing. The kiwi fell to 81.56 US cents from 81.82 cents at 5pm yesterday. The trade-weighted index was little changed at 77.15 from 77.10 yesterday. Investors are looking to Federal Reserve Chairman …

Wall Street gained, touching records, after Federal Reserve Bank of St. Louis President James Bullard said the central bank should maintain its current bond-buying program to help bolster growth. In a speech in Frankfurt, Germany, Bullard recommended the Fed “continue with the present quantitative easing program, adjusting the rate of purchases appropriately in view of incoming data on both real …

Sealegs Corp, which makes amphibious boats, posted a return to full-year profit after raising prices while sales of its vessels slipped. Profit was $204,000 in the 12 months ended March 31, from a loss of $1.86 million a year earlier, the Auckland-based company said in a statement. Sales rose about 19 percent to $16.4 million. The company sold 104 boats …