Law and regulation

Salters Cartage owner cries poor while nobbling rivals. By Victoria Young

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Rakon profit swelled by govt covid support

Staff reporters
Thu, 19 Nov 2020

Rakon more than tripled first-half net profit to $4.6 million, due in large part to $2.3 million of New Zealand, British and French government support through the covid-19 pandemic.However, the firm’s underlying earnings before interest, tax, depreciation and amortisation still rose 64 percent to $11.4 million in the six months ended Sept. 30, and revenue increased 5 percent to $59.5 million. That gave Rakon's board confidence to affirm annual guidance for ebitda to come in between $16 million and $18 million.Telecommunications was th...

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