Livestock Improvement Corp., a farmer cooperative that sells bull semen and provides a dairy genetics database, posted a 3 percent drop in annual profit because its elite breeding bulls didn’t increase in value as much as the previous year. Profit fell to $23.7 million in the year ended May 31, from $24.4 million a year earlier, the Hamilton-based company said …

Z Energy, the petrol station chain, plans to raise up to $900 million in an initial public offering next month, allowing owners Infratil and the New Zealand Superannuation Fund to crystallise some of their profits on the three-year investment. The chain’s indicative price range is between $3.25 and $3.75 a share, giving an implied market capitalisation of between $1.3 billion …

Fonterra Cooperative Group, the world’s largest exporter of dairy products, said this year’s earnings will miss forecast by about 7.3 percent, spurring a sell-off in the company’s listed fund. Units in the Fonterra Shareholders’ Fund are the second-worst performer on New Zealand’s benchmark index today, dropping 3.7 percent to $7.20, crimping their gain so far this year to 6.3 percent. …