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Genesis Energy became the latest electricity company to increase its distributions to shareholders as it reported a 113 percent increase in net profit of $104.8 million on marginally increased revenues of $2.1 billion in the year to June 30. Chair Jenny Shipley said in a statement the board was “satisfied” with a “strong” performance from Genesis, the country’s largest electricity and gas retailer, …

New Zealand shares rose, led by Westpac Banking Corp, as dual-listed stocks rebounded from a sharp drop yesterday. Australia and New Zealand Banking Group and Spark New Zealand gained. The S&P/NZX 50 Index rose 5.98 points, or 0.1 percent, to 5613.29, somewhat reversing yesterday’s biggest drop in four years. Within the index, 15 stocks rose, 28 fell and seven were unchanged. Turnover was $260 million. Some …

Beingmate Baby & Child Food Co shares fell to their lowest since February 2013, after being caught up in the global share-market rout that’s dented Chinese equity markets, slicing more than $200 million from Fonterra Cooperative Group’s investment in the Hanzhou-based infant formula maker. The Shenzhen stock exchange-listed shares dropped 10 percent to 11.87 Chinese yuan, the lowest level since …

Mercer Group, the stainless steel fabricator and manufacturer, widened its annual loss after only one of its units turned a profit and it wrote down the value of its assets. The Auckland-based company posted a loss of $6.7 million, or 2.21 cents a share, in the 12 months ended June 30, from a loss of $457,000, or 0.17 cents, a year earlier, …

Wall Street pared losses, after plunging in the first 10 minutes of trading after Chinese stocks plummeted as investors rushed to the sidelines. “Anybody with a pulse was nervous when the market opened,” Michael James, managing director of equity trading at Wedbush Securities in Los Angeles, told Reuters. “The only thing that’s certain is the volatility is going to continue …

Auckland International Airport, the country”s biggest gateway, says it”s optimistic about demand from China, its fastest-growing source of passengers, even after weak manufacturing data sparked a global selloff in stocks and raised questions about growth in that economy. Passenger numbers from China soared 41 percent to 545,494 in the airport company”s latest year, while capacity on routes to China rose 38 …

There is no escaping that Fonterra’s path forward has to be closely linked to China. No-one else needs and has the ability to pay for New Zealand milk in the quantities that we have available to supply. Whether that means we are over-exposed is a matter of perspective. But that perspective does not alter the reality that China is the …

Contact Energy, which generates about a quarter of New Zealand’s electricity, plans to sell as much as $125 million of six-year bonds in the final step of its refinancing programme. The Wellington-based company will offer $100 million of unsecured, unsubordinated, fixed-rate bonds to institutional investors and New Zealand retail investors, with the potential for a further $25 million in oversubscriptions, it said …

Contact Energy, which generates about a quarter of New Zealand’s electricity, plans to sell as much as $125 million of six-year bonds in the final step of its refinancing programme. The Wellington-based company will offer $100 million of unsecured, unsubordinated, fixed-rate bonds to institutional investors and New Zealand retail investors, with the potential for a further $25 million in oversubscriptions, it said …

GeoOp, the workforce management app developer, will raise $2.4 million in private placement to foreign investors, senior management and the board to help fund the company’s expansion in Australia. The Auckland-based company will sell 5 million shares at 48 cents apiece to a group of investors, with the funds raised going towards beefing up its team in Australia, GeoOp’s biggest …