Five NZ wineries have joined forces to target the United States market, with plans for exports to hit nearly one million bottles within five years.

New Zealand's terms of trade - the amount of imports that can be funded by a fixed quantity of exports - fell in the third quarter, driven by falling prices for primary sector exports and a strong kiwi dollar.

Tait Radio Communications said it had completed a $19 million contract to provide a new radio communications network for one of the world's biggest urban transport systems - the London bus network.

Methven, the tapware and bath fittings maker, posted a 25 per cent slump in first-half profit, blaming a sharp downturn in Australian activity.

F & P & Appliances shares have plunged after the whiteware maker slashed net profit to $980,000 in the six months to September 30.