Abano profit plummets on Maven write-down, takeover costs

Jenny Ruth
Wed, 29 Jan 2020

Abano Healthcare's first-half net profit plummeted after goodwill and other asset write-downs of its Australian dental business and the costs of dealing with a takeover offer that the directors are supporting.Net profit attributable to shareholders for the six months ended November fell to $115,000 from just above $6 million in the same six months of 2018.The company wrote $4.4 million off the value of Maven Dental and the takeover - via a scheme of arrangement - cost $1.7 million in the six months.Abano had already written $2.6 million off Mav...
Economy
BRIAN GAYNOR: Aluminium smelter reaches use by date
Brian Gaynor | Sat, 11 Jul 2020

The negative market reaction to Rio Tinto’s announcement that it was winding down the Tiwai Point aluminium smelter was overdone, particularly for investors with long-term perspectives. The smelter...

Markets
MARKET CLOSE: NZ shares fall as energy sector sell-off continues
Dan Brunskill | Fri, 10 Jul 2020

New Zealand shares fell as energy stocks declined for a second day following the announcement Rio Tinto’s New Zealand aluminium smelter will close. Chorus led the market lower on the risk of more r...

Finance
Metlifecare and EQT enter new $6 per share takeover agreement
Jenny Ruth | Fri, 10 Jul 2020

Metlifecare said it has entered into a new scheme of arrangement with Swedish company EQT to buy all its shares for $6 each, a dollar less than the earlier deal EQT had repudiated, but only four of th...

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