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Moa Group is the worst performing stock on New Zealand’s benchmark index, dropping to a record low, after the boutique beer maker said it will miss its 2014 sales forecasts as volumes sold in New Zealand and Australia lag expectations. Shares in Moa slumped as low as low 80 cents, and recently traded at 85 cents, dropped 28 percent on …

Summerset Group, New Zealand’s third-largest listed retirement village operator, almost tripled first half profit as it sold more occupation rights and the value of its investment property more than doubled. The company’s net profit rose 174 percent to $10.8 million in the six months ended June 30, as revenue rose 16 percent, Wellington-based Summerset said in a statement. The shares …

China’s Bright Food Group, a cornerstone stake in local processor Synlait Milk, is likely to get a boost from Fonterra Cooperative Group’s food scare and might get a credit rating upgrade from Moody’s Investors Service. home sharing not working Fonterra is the biggest milk powder supplier into China with about 60 percent market share, and last week’s food safety scare …

PGG Wrightson, the rural services company controlled by China’s Agria Corp, took a $321 million charge to write off goodwill from its 2005 merger while posting a decline in operating earnings in line with guidance on the effects of this year’s drought. The net loss was $306.5 million in the 12 months ended June 30, from a profit of $24.5 …

Opus International Consultants, the engineering firm with one of four mandates to lead design the Christchurch rebuild, posted a 13 percent decline in first-half earnings, missing estimates, as its local business was hurt by the Mainzeal liquidation and lower local authority spending. Net profit fell to $9.4 million, or 6 cents per share, in the six months ended June 30, …

China’s Bright Food Group, a cornerstone stake in local processor Synlait Milk, is likely to get a boost from Fonterra Cooperative Group’s food scare and might get a credit rating upgrade from Moody’s Investors Service. Fonterra is the biggest milk powder supplier into China with about 60 percent market share, and last week’s food safety scare is seen as credit …

The New Zealand dollar rose against the Australian dollar as investors look ahead to reports today which may show the Australian economy is weakening, increasing the likelihood of further interest rate cuts. The kiwi advanced to 87.50 Australian cents at 8am in Wellington from 87.32 cents at the 5pm market close in Wellington yesterday. The local currency slipped to 80.01 …

Wall Street slipped as a report showed Japan’s economic growth fell short of expectations, adding to lacklustre data closer to home. Japan’s gross domestic product grew at an annualised 2.6 percent in the second quarter, after expanding a revised 3.8 percent in the previous three months. To be sure, some say it was not all bad news. “Headline GDP was …

New Zealand’s top technology security firms Gallagher, Tait Communications, Wynyard Group and Endace are trying a coordinated push into global markets as they share resources and draw on each other’s existing capabilities. The Security Technology Alliance will give the firms, who offer tech-based security products but don’t compete in the same markets, a way to bundle up their services in …

 Port of Tauranga, the country’s biggest export port, has spent $37.2 million buying property in Onehunga to expand its inland port operations in South Auckland. The 6.8 hectare property is adjacent to Port of Tauranga’s MetroPort inland operation, and includes three warehouses, an office building and two hectares of land earmarked for future development, chief executive Mark Cairns said in …