Farm prices have been holding relatively steady in the latest Real Estate Institute of New Zealand rural data despite fears lower dairy prices would force down land values. There’s only been a small drop in the median sales price per hectare for dairy farms to $35,304 for the three months ended July 31, compared to $35,531 in the three months ended …

Fletcher Building posted a 20 percent decline in full-year profit after taking $150 million of one-time charges for plant closures and impairments. Pretax earnings rose in line with guidance, driven by a strong New Zealand performance. Profit fell to $270 million in the year ended June 30, from $339 million a year earlier, the Auckland-based company said in a statement. Sales …

The Auditor-General is mounting a probe into the Saudi Arabian agri-hub created at a cost of $15.5 million to the taxpayer in 2013 as part of efforts to restore relations with Saudi Arabia after the New Zealand government confirmed a ban on live sheep shipments to the Arab nation. Among the four broad terms of reference of the inquiry will be “whether the …