Shares in Chorus dropped 2 percent after the telecommunications network operator spun out of Telecom signalled the cost of building a nationwide ultrafast broadband network has increased by some $300 million. The Wellington-based company expects the total UFB build to be between $1.7 billion and $1.9 billion, from a previous range of $1.4 billion and $1.6 billion. It flagged capital …

Meridian Energy says it’s ready for partial privatisation and expects a significant uplift in operating earnings in the second half after transmission outages and heavy rainfall knocked its performance in the six months to Dec. 31. The state-owned power company’s accounts also show a strong positive bounce in the unrealised value of its contracts to service the Bluff aluminium smelter, …

ew Zealand Post Group, the state-owned postal service, posted a 68 percent jump in first-half profit as stronger earnings from KiwiBank and Express Couriers made up for the continued slide at its core postal service. Profit rose to $59.6 million in the six months ended Dec. 31, from $35.4 million a year earlier, the Wellington-based company said in a statement. …