Ritchies annual net loss doubles to $17m

Ritchies annual net loss doubles to $17m
Ritchies is owned by private equity giant KKR. (Image: Ritchies)
John Anthony
Bus and coach operator Ritchies' annual net loss has more than doubled to $17 million in a year that included some large acquisitions.Companies Office records show Ritchies Transport Holdings is owned by Singapore-incorporated Rome NZ Holdco, which has Cayman Islands-registered KKR Group Partnership as its ultimate holding company.Founded in Temuka in 1935, Ritchies operates a fleet of more than 1600 vehicles and has a network of 42 depots nationwide.The Rome NZ Holdco group owns eight New Zealand subsidiaries and the group generates revenu...

More Markets

ANZ agrees to record A$240m fine for widespread misconduct
Markets

ANZ agrees to record A$240m fine for widespread misconduct

ANZ has agreed to pay the largest penalty its Australian regulator has ever issued an entity in one go, due to failings in the bank’s dealings with both the Government and its retail customers.ANZ and the Australian Securities and Investments Commission (ASIC) will ask the Federa...

Trade Window looks to boost profile with ASX listing
Markets

Trade Window looks to boost profile with ASX listing

Trade Window is moving to broaden its investor base with a secondary listing in Australia.The Auckland-based trade software firm said on Monday that with its secondary listing, it was pursuing "the goal of increasing its profile among the broad pool of investors across the Tasman...

Banks revise economic outlooks for Q2 GDP contraction
Finance

Banks revise economic outlooks for Q2 GDP contraction

Economists now see NZ's GDP contracting in Q2, but doubt a technical recession in Q3.