Methven, the tapware maker, says full-year profit fell about 21 percent on weaker trading in the Australian market. The shares fell to an 11-month low. Net profit in the 12 months ended March 31 was about a fifth lower than the previous year’s $6.5 million and profit before one-time items was about 12 percent lower, the Auckland-based company said in …

Telecom Corp, the country’s biggest telecommunications company, has dumped the architect of its mobile network Alcatel-Lucent in favour of Chinese heavyweight Huawei to build its 4G infrastructure. The Auckland-based company picked Huawei due to its experience building 73 long-term evolution (LTE) mobile technology networks across 42 countries and because the Chinese telecommunications manufacturer is “truly pushing the boundaries of LTE …

Michael Hill International, the jewellery chain that bears its founder’s name, said sales in the first nine months of the year rose 8.8 percent on revenue gains in its biggest markets of Australia and New Zealand. Sales climbed to $425 million in the nine months ended March 31, from $390.8 million a year earlier, the Brisbane-based retailer said in a …