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 …

The New Zealand dollar climbed back above 83 US cents after a bank survey showed local business confidence has continued to improve, and as Australian capital expenditure figures weren’t as bad as investors were prepared for. The kiwi rose to 83.15 US cents at 5pm in Wellington from 82.43 cents at 8am and 82.42 cents yesterday. The trade-weighted index advanced …

State-owned broadcaster Television New Zealand’s earnings after tax for the six months to Dec. 31 fell 26 percent to $14.2 million as advertising revenues fell and the network spent an extra $10.5 million buying programmes, including top-rating New Zealand’s Got Talent. Total operating revenues of $193.9 million for the half-year compared with $199.7 million in the same period a year …