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 …

Christchurch city’s Port of Lyttelton turned in a 16.5 percent reduction in profit for the half year to Dec. 31, largely reflecting reduced coal export volumes from troubled state-owned coal miner Solid Energy and the loss of insurance cover for cancelled visits by cruise ships. Profit after tax for the period was $8.0 million, compared with $9.5 million in the …