By Rebecca HowardAir New Zealand posted a 24 per cent fall in first-half pretax profit in the face of increasing competition into the domestic market. Basic earnings per share were 22.8 cents versus 30.1 cents in the prior period. New Zealand's national carrier was forecast to post a 45 per cent decline in first-half earnings to $186.5m on a 2.6 per cent decline in revenue to $2.63b, according to Forsyth Barr analyst Andy Bowley. While net profit was sharply lower, the airline said it was the second highest result for an interim period in the airline's history. The board declared a fully-imputed interim dividend of 10 cents a share, which is consistent with the prior period.

Source: New Zealand Herald February 22, 2017 20:03 UTC