UPDATE: NZX shares fall from 21-month high as groundwork laid for earnings growth

UPDATE: NZX shares fall from 21-month high as groundwork laid for earnings growth
Paul McBeth
By Paul McBeth Feb. 14 (BusinessDesk) - (Recasts, adds broker comment, and updates share price throughout) NZX shares fell from a 21-month high after the stock market operator unveiled a slump in annual profit while saying the groundwork was laid for future earnings growth.  The shares fell 3.5 percent to $1.10 as at 12.15 pm ending a 15 percent rally since early December as investors digested the Wellington-based company's annual report showing a 62 percent slide in profit to $9.2 million, or 3.4 cents per share, in calendar 2016. ...