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Kathmandu Holdings, which today posted a 4.5 percent decline in annual profit, said Australasian earnings should rise in the coming year although overall profit at the outdoor equipment retailer may be dented by investment spending. Net profit fell to $42.2 million, or 20.8 cents a share, in the year ended July 31, from $44.2 million, or 21.9 cents, a year earlier, the Christchurch-based …

GeoOp chief executive Leanne Graham has resigned 11 months after the small business app developer listed on the New Zealand Alternative Index and will take a new role with the company leading its push into the US. The shares dropped 11 percent. Graham will move to the US to become executive strategic adviser for America, which currently makes up 8 percent of the company’s customer base, the …

Initial shareholders of SLI Systems, the search engine developer, have sold 6.8 percent of the company at the end of a 16-month lock-up period at 23 percent below last year’s offer price. The shareholders sold some 4.2 million of the 40.1 million locked-up shares at $1.15 apiece yesterday, the Christchurch-based software developer said in a statement. That’s below the $1.50 price the shares sold at …

New Zealand Refining, the nation’s only oil refinery, said two unions representing 160 of its workers, or about half its workforce, have served notice of a two-day strike next month, a move that could result in $8 million to $9 million of lost processing fees. First Union and the New Zealand Engineering, Printing and Manufacturing Union gave notice of strike action covering …

Investors in OPI Pacific Finance are still in the dark over the value of a potential deal with the failed lender’s former auditor after ASX-listed Crowe Horwath rejected the OPI receiver’s version of the settlement. Last week, Crowe Horwath, which became liable for the settlement through its acquisition of Lower Hutt-based accounting firm Sherwin Chan & Walshe, said it had reached a deal …

The New Zealand dollar fell alongside the Australian and Canadian dollars on concern slowing growth in China would reduce demand for the countries’ commodities. The kiwi slipped to 81.28 US cents at 8am in Wellington, from 81.56 cents at 5pm yesterday, while the Australian dollar fell to 88.75 US cents from 89.35 cents, and the Canadian dollar dropped to 90.64 US cents …

Equities on both sides of the Atlantic declined, along with commodities including nickel, copper, and oil after an unexpected drop in US existing home sales and comments by China suggesting it might not aim to bolster economic growth as much as expected. In late afternoon trading in New York, the Dow Jones Industrial Average fell 0.43 percent, the Standard & …

New Zealand shares jumped, led by MightyRiverPower, after the National Party’s convincing election victory on the weekend wiped out any regulatory fears for the power companies. Meridian Energy, Genesis Energy and Contact Energy paced gains. The NZX 50 Index advanced 54.947 points, or 1.1 percent, to 5236.292. Within the index, 27 stocks rose, 13 fell and 10 were unchanged. Turnover …

New Zealand shares jumped, led by MightyRiverPower, after the National Party’s convincing election victory on the weekend wiped out any regulatory fears for the power companies. Meridian Energy, Genesis Energy and Contact Energy paced gains. The NZX 50 Index advanced 54.947 points, or 1.1 percent, to 5236.292. Within the index, 27 stocks rose, 13 fell and 10 were unchanged. Turnover was $144.2 million. During the …

The New Zealand dollar gained after the incumbent National Party won a convincing election victory on the weekend, instilling confidence in the administration’s ability to continue pursuing its policy programme. The kiwi rose to 81.53 US cents at 5pm in Wellington from 81.49 cents at 8am, and was up from 81.24 cents on Friday in New York. The trade-weighted index advanced to 78.78 …