OceanaGold Corp, which operates the Macraes gold mine in Otago, reported a 58 percent drop in first-quarter profit with sales down from a year earlier, and announced plans to buy the Waihi Gold Mine for US$101 million. Net profit fell to US$24.5 million in the three months ended March 31, from US$58.9 million a year earlier, the Melbourne-based company said in a statement. Sales …

Tourism Holdings, the largest campervan rental business in Australia and New Zealand, has boosted full-year guidance for a third time and hired First NZ Capital to review its capital structure. The Auckland-based company said it expects annual profit to be between $19.5 million and $20 million in the year ending June 30, from the $11.1 million it recorded in 2014. Tourism Holdings …

New Zealand business confidence slipped from a seven-month high as sentiment waned in retailing, manufacturing, agriculture and construction. A net 30 percent of firms were optimistic about the general economy in April, down from 35.8 percent in March, according to the ANZ Business Outlook. Sentiment improved in the services sector. The survey shows business confidence remains sturdy, recording the third straight …

Criminal charges against Jamie Peters, a high-profile former property developer discharged from bankruptcy against the wishes of the Official Assignee, have been dismissed by the District Court at Auckland, which found his rights to a fair trial had been breached. Peters was bankrupted in October 2009 by Marac Finance for just over $3 million relating to a personal guarantee he gave in …

Shares of Tower were halted on the New Zealand and Australian stock exchanges, as it reviews its Canterbury provisions and flags a “material impact” ahead of reporting its first-half earnings next month. In its request for a trading halt to the ASX and NZX, the insurer said in preparation for reporting its earnings in the six months ended March 31 it is “reviewing its Canterbury …

New Zealand recorded a bigger-than-expected trade surplus in March, as exports fell less than forecast. Statistics New Zealand said the trade surplus was $631 million in March, bigger than the $341 million expected in a Reuters poll of economists and compared with a February surplus of $83 million. Excluding the re-export of a drilling platform to Singapore, last month’s trade …

Genesis Energy, New Zealand’s largest energy retailer, cut its forecast for annual earnings after losing electricity and gas customers amid increased competition and as wholesale electricity prices declined. The shares dropped after the announcement. Earnings before interest, tax, depreciation, amortisation and other fair value changes will be between $330 million and $345 million in the year ending June 30, the Auckland-based company …

Kirkcaldie & Stains turned to a first-half loss as sales fell and the Wellington department store operator wrote down a deferred tax asset The loss was $501,000 in the six months ended Feb. 28, from a profit of $563,000 a year earlier, the Wellington-based retailer said in a statement. Total revenue fell to $17.5 million from $19.4 million as retail sales declined 0.6 …

Allied Farmers, which owns a livestock business and has a holding company that is selling down loans and property assets acquired from Hanover and United Finance, plans to raise as much as $1.2 million to repay debt and provide working capital. The Hawera-based company says it will raise $200,000 to $300,000 in a private placement and up to $1 million from …

Goldman Sachs New Zealand Holdings, the local unit of the New York Stock Exchange-listed investment bank, reported a 52 percent drop in revenue and a small loss for 2014, a year marked by fewer high-profile deals and more offshore advisory work. The loss was $2.87 million in calendar 2014, compared to a profit of about $16 million a year earlier, …