Turners & Growers, the fruit marketer controlled by Germany’s BayWa Aktiengellschaft, narrowed its first-half loss after taking another writedown on the value of its kiwifruit orchards from the outbreak of Psa vine bacteria and taking a more downbeat view on its apple orchards. The Auckland-based company made a loss of $15.3 million, or 13.1 cents per share, in the six …

New Zealand shares rose to a new five-year high as investors cheered Air New Zealand’s profit growth and Fletcher Building pushed back above $9. The NZX 50 Index rose 43.68 points, or 1 percent, to 4320. Within the index, 25 stocks rose, 15 fell and 10 were unchanged. Turnover of $250 million included more than 10 million Trade Me shares. …

Methven, the tapware maker whose board agreed to link director fee increases to earnings growth, has lowered its expected annual profit on weak trading across the Tasman and costs arising from a potential purchase. The Auckland-based company expects reported and normalised profit in the year ending March 31 to be lower than last year, when it posted a net profit …