Air NZ shares climb to 9-month high as annual profit beats estimates

Wed, 29 Aug 2012

By Paul McBeth Aug. 30 (BusinessDesk) - Air New Zealand shares rose to a nine-month high after the national carrier slated for a government selldown beat estimates with a 12 percent drop in annual profit, while forecasting pretax earnings to more than double in 2013. The shares climbed 8.4 percent to 97 cents, the highest level since Nov. 30, after net profit fell less than expected to $71 million, or 6.3 cents per share, in the 12 months ended June 30, from $81 million, or 7.6 cents, a year earlier. That beat the consensus analyst forecast...

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