Rakon's startup Thinxtra won't be a drag on earnings for long says chairman

Thu, 17 Aug 2017

By Rebecca Howard Aug. 17 (BusinessDesk) - Rakon's start-up investment Thinxtra won't be a drag on the NZX-listed components maker's earnings for long, according to chairman Bryan Mogridge. Earlier this week, Rakon predicted a return to profit in the year ending March 31, 2018, with underlying earnings before interest, tax, depreciation and amortisation of between $9 million and $11 million. At today's annual meeting, Mogridge told shareholders that result includes an estimated $2 million loss from Thinxtra, a company that is building Int...

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