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Rangatira to up Magritek stake; seeks Hellers replacements
By Gavin Evans May 16 (BusinessDesk) - Rangatira Investments plans to increase its holding in research technology business Magritek as it deploys funds from the sale of its interest in smallgoods maker Hellers. The Wellington-based investment company expects to buy Massey U...
Services
Kiwibank to ditch cheques in February 2020
By Nikki Mandow May 16 (BusinessDesk) - When Kiwibank CEO Steve Jurkovich stands up to address the Grey Power annual meeting next week, he might want to wear his bulletproof vest. That’s the advice from national president Mac Welch, reacting to today’s announcement from Kiw...
Services
Xero reports positive free cash flow for 2019, loses $27.1M
By Jenny Ruth May 16 (BusinessDesk) - Accounting software company Xero widened its annual loss while growing operating revenue 36 percent and subscriber numbers by 31 percent. Xero reported a $27.1 million net loss for the 12 months ended March, up from the previous year’s...
Services
Rakon lifts annual earnings 10% on growing demand for telco infrastructure
By Rebecca Howard May 16 (BusinessDesk) - High-tech components maker Rakon lifted full-year earnings 10 percent, meeting guidance, as 4.5/5G telecommunications infrastructure demand continues to grow. But profits were down on last year and debt soared. Underlying earnings b...
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