Landcorp Farming, which is taking on debt to convert former forestry land into dairy farms, won’t pay a dividend this year, highlighting the friction between the state-owned farmer’s long-term strategy and the government’s demand for regular payments in preference to investment. New Zealand’s largest corporate farmer posted an 84 percent decline in annual profit to $4.9 million, in line with its forecast of $1 million …

New Zealand’s trade deficit was smaller than expected in July as exports of fruit and meat drove overseas sales higher, and offset flat dairy export receipts. The trade deficit narrowed to $649 million in July from $943 million a year earlier, and was smaller than the $755 million shortfall predicted in a Reuters poll of economists. Exports climbed 14 percent …

Air New Zealand chief executive Christopher Luxon says the national carrier’s record result stacks up against any airline in the world, and was underpinned by strong demand, cost efficiencies and cheaper fuel. Net profit rose to $327 million in the 12 months ending June 30, from $263 million a year earlier, the Auckland-based company said in a statement. The result included …