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Ebos Group said first-half profit more than tripled, meeting its guidance after the acquisition of Symbion, and said its top executives would be replaced by managers of the Australian drug distributor and distributor. Profit was $49.9 million in the six months ended Dec. 31, up from about $15 million a year earlier, the Christchurch-based company said in a statement. Sales …

New Zealand Oil & Gas, which has interests in the Tui and Kupe fields, reported 47 percent decline in first half profits, as revenue growth was offset by a near doubling of exploration and evaluation costs. Net profit fell to $4 million in the six months ended Dec. 31 from $7.6 million a year earlier, the company said in a …

The New Zealand dollar outlook is mixed this week as weaker economic data from the US and positive risk appetite underpin demand while traders mull whether the kiwi can continue its recent ascent. The local currency may trade between 82 US cents and 84.80 cents this week, according to a BusinessDesk survey of 11 currency strategists and traders. Four expect …

New Zealand services sector activity, which accounts for about two thirds of the economy, expanded for a ninth month in January, underpinned by a six-and-a-half year high in new orders. The BNZ-BusinessNZ performance of services index increased 0.5 points to 58.1, the highest level since November 2007, and was up from 53.3 a year earlier. A reading of 50 or …

Property For Industry, which increased its portfolio by two thirds after a merger with Direct Property Fund last year, said annual profit rose 50 percent as it benefited from an increased rental flow while keeping expenses in check. Net profit was $40.5 million for the year ended Dec. 31, from $26.9 million a year earlier, the Auckland-based company said in …

BlueScope Steel, Australia’s largest steelmaker and owner of the New Zealand Steel mill, has agreed to buy assets of Fletcher Building’s Pacific Steel in a $120 million deal that will lead to the closure of Fletcher’s steel mill at Otahuhu at the end of 2015. The transaction will leave BlueScope as the nation’s only steelmaker and requires approval from the …

Chorus, the telecommunications network operator spun out of Telecom in 2011, has put up an alternative proposal to the Commerce Commission on how its physical copper lines should be regulated in a bid to fast-track the process. The Wellington-based company says the regulator should use the existing network configuration as a hypothetical equivalent operator to determine the value of assets …

Minutes from the latest US Federal Reserve meeting and corporate earnings from companies including Coca-Cola and Wal-Mart will be scrutinised for clues to justify the newfound confidence about the US economic outlook. In the past five days, the Dow Jones Industrial Average climbed 2.3 percent, as did the Standard & Poor’s 500 Index, while the Nasdaq Composite Index advanced 2.9 …

The New Zealand dollar touched a month-high after a weaker economic report in the US dented demand for the greenback. The kiwi touched a high of 83.85 US cents on Friday night, and was trading at 83.77 cents at 8am in Wellington from 83.64 cents at the New York close and 83.39 cents in Wellington Friday. The trade-weighted index advanced …

New Zealand property sales fell 4.3 percent in January from a year earlier while the median price slipped from the record high set in December, which may reflect high loan-to-value lending restrictions and seasonal factors, the Real Estate Institute says,. There were 4,719 dwellings sold nationally in January, down from the same month last year and a 17 percent drop …