Skellerup, the industrial rubber goods manufacturer, beat its guidance with a 23 percent decline in annual profit following a pickup in the last two months of the financial year. Skellerup made a profit of $19 million in the year ended June 30, ahead of its May 2 forecast of $17 million, but below the year earlier $24.7 million, the Auckland-based …

Vector, the Auckland-based electricity, gas and telecommunications network operator, lifted net profit 2.3 percent, missing estimates, as its technology unit bolstered sagging earnings from traditional energy revenue streams. Net profit rose to $203.3 million, or 20.4 cents per share, in the 12 months ended June 30, from $198.8 million, or 20 cents, a year earlier, the company said in a …

By Pam Graham The amalgamation of councils in Auckland has worked so well it should be a template for the rest of New Zealand, the lobby group for infrastructure companies says. New Zealand Council for Infrastructure Development (NZCID) chief executive Stephen Selwood pushed for reform of councils in regions at the Local Government New Zealand conference in July and he …