Guinness Peat Group’s profit slumped to $2 million in the year to December compared to $92 million in the prior period following a massive write-down.

The company blamed a warmer than usual winter and store closures due to the Christchurch earthquake for the profit decline.

It might be his official last day in the office but Fonterra chief executive Andrew Ferrier was no less enthusiastic about the future while presenting a bumper result today.

The Warehouse has posted an 8% fall in operating profit, cut its dividend payout by 2c and signaled lower earnings next year as it embarks on yet another reinvestment strategy.

Construction giant Fletcher Building says its net profit for the full year to June 30 was $283 million compared with $272 million in the previous year.

Appliance maker Fisher & Paykel Appliances returns to profit but earnings were flat with conditions expected to remain fragile.