Dairy Nutraceuticals' accounts 'appear inaccurate'

Dairy Nutraceuticals' accounts 'appear inaccurate'
The company's former site in Auckland, now for lease. (Image: Bayleys)
Riley Kennedy
The receivers of Dairy Nutraceuticals, who the Bank of China appointed, have said the company’s accounts “appear inaccurate”.However, they have signed a deal to sell its fixed assets. After the business breached its lending agreements with the New Zealand arm of the Chinese bank, Grant Thornton’s Russell Moore and Stephanie Jeffreys were appointed to manage the affairs of the dairy products manufacturer, which exported mainly to China.Their appointment came after the landlord re-entered its premises in Penrose, Auck...

More Finance

No longer 'boutique' Generate is executing, CEO says
Finance

No longer 'boutique' Generate is executing, CEO says

The fund manager is now the seventh-largest KiwiSaver provider.

ANZ half-year profit surges on non-cash gains
Finance

ANZ half-year profit surges on non-cash gains

Cash earnings were flat, and net interest margin rose slightly.

Pattrick Smellie 08 May 2025
BNZ preserves margins on flat half-year
Finance

BNZ preserves margins on flat half-year

BNZ outranks its Australian cousins for customer preference.

Pattrick Smellie 07 May 2025
Westpac's NZ net interest margin expands again
Finance

Westpac's NZ net interest margin expands again

Net interest margins rose in NZ, but shrank for the group as a whole.

Pattrick Smellie 05 May 2025