Comvita, which produces health products from manuka honey and olive leaves, posted a 10 percent decline in full-year profit, beating its own guidance as it coped with a shortage of honey and higher costs. Net profit fell to $7.37 million, or 24.52 cents a share, from $8.2 million, or 27.85 cents, a year earlier, the Te Puke-based company said in …

Argosy Property reported a jump in full-year profit after earnings in the previous year were eroded by the costs of internalising its management contract. Net property income fell 1.8 percent. Profit was $39.2 million in the 12 months ended March 31, from $1.9 million a year earlier, when it spent $20 million internalising its management contract. Distributable earnings, the favoured …

The New Zealand dollar fell after US Federal Reserve Chairman Ben Bernanke said the central bank may taper monthly bond purchases at its next few meetings if it’s confident of sustained gains in the economy. The kiwi dropped to 80.64 US cents from 81.47 cents at 5pm in Wellington yesterday. The trade-weighted index fell to 76.38 from 76.82 yesterday. The …