New Zealand property values rose at a 7.6 percent annual pace last month, as demand continued to outstrip supply in Auckland and Christchurch, according to state valuer Quotable Value. Property values stepped up the pace from last month when they increased at a 7.1 percent annual rate, also driven by demand in Auckland and Christchurch. Values increased 2.8 percent in …

Fonterra Cooperative Group, the world’s biggest dairy exporter, has scaled back applications from its farmers to sell milk at a guaranteed price in the 2013/2014 season after being overwhelmed by demand. In a pilot scheme announced last month, Fonterra offered to pay $7 per kilogram of milk solids, matching its initial forecast payout, for those farmer-shareholders wanting to lock in …

Energy Mad, whose shares are trading at less than a third of their 2011 IPO price, claims it recorded positive earnings in its first quarter, but is refusing to give any numbers. It says the positive helped by cost cutting, a foreign exchange gain and a better performance from its direct installation business. Unaudited earnings before interest, depreciation and amortisation …