WasteCo reports loss as it seeks capital for acquisition

WasteCo plans a share purchase plan (SPP) to raise $5m. (Image: Supplied)

Fri, 29 Nov 2024

A week after WasteCo announced a conditional agreement to acquire Civic Waste and launched a share purchase plan proposal, the group posted a $5.5 million net loss. In earnings for the six months to Sept 30, released to the New Zealand Exchange (NZX) on Friday, WasteCo disclosed a loss from operations of $1.83m compared to $2.3m in the prior comparable period. The net loss after tax was $5.5m, compared with a loss of $2m in the previous year's interim result.“The economic slowdown has impacted many WasteCo customer...

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