Mercury trims earnings guidance again
Mercury NZ trimmed its full-year earnings guidance for the third time in four months, citing declining hydro-electric water storage in the North Island.The electricity generator and retailer said it expects full-year earnings of about $480 million before interest, tax, depreciati...
Direct Capital invests in beauty business Caci
Direct Capital has taken a 39 percent stake in Caci for an undisclosed sum. The new shareholder will help the beauty business “drive an ambitious growth strategy for its trusted chain of clinics,” Caci said. Founders David and Jackie Smith own the rest of the recently formed hold...
Wellington Drive to raise up to $5.4m in discounted offer
Wellington Drive Technologies will raise up to $5.4 million in a discounted one-for-three rights issue to give it enough money to weather the covid-19 pandemic. The rights won’t be tradeable, but eligible investors are entitled to find buyers off-market before the offer closes on...
Asalea to close nappy factory; 26 jobs to go
Asaleo Care is giving up on its local baby nappy business and will close its manufacturing facility in Te Rapa, which will see 26 staff lose their jobs. The tissue maker hasn’t been able to generate adequate returns from the New Zealand baby diaper business, despite five years of...
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