Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Hellaby adds $20M in annual sales buying NZ Trucks, Dasko

Hellaby adds $20 million in annual sales with NZ Trucks, Dasko acquisitions

By Suze Metherell

April 14 (BusinessDesk) – Hellaby Holdings, whose interests range from footwear to oil and gas services, expects to add $20 million to annual revenue after buying New Zealand Trucks South Island and Dasko Marketing NZ.

The Auckland-based investor paid “less than $10 million” for the auto-related companies and expects they will deliver a combined $2.5 million boost to yearly earnings before interest, tax, depreciation and amortisation, it said in a statement.

New Zealand Trucks is a Christchurch-based truck servicing business while Auckland-based Dasko is a distributor of auto electrical, fuel and engine management components to auto retailers. Both companies were acquired in private transactions.

Hellaby’s automotive division, which includes tyre distribution and wheel alignment services, industrial batteries and wholesale diesel products, recorded $84.5 million in sales in the six months ended Dec. 31 and EBITDA of $8.5 million.

Shares in Hellaby fell 0.7 percent to $2.88 and have declined 7.1 percent in the past 12 months. Its recommendation was evenly split between a ‘buy’ and ‘hold’ according to four analysts surveyed by Reuters, with a median price target of $3.48.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Royal Society: Review Finds Community Water Fluoridation Safe And Effective

A review of the scientific evidence for and against the efficacy and safety of fluoridation of public water supplies has found that the levels of fluoridation used in New Zealand create no health risks and provide protection against tooth decay. More>>

ALSO:

Scoop Business: Croxley Calls Time On NZ Production In Face Of Cheap Imports

Croxley Stationery, whose stationery brands include Olympic, Warwick and Collins, plans to cease manufacturing in New Zealand because it has struggled to compete with lower-cost imports in a market where the printed word is giving way to electronic communications. More>>

ALSO:

Prefu Roundup: Forecasts Revised, Surplus Intact

The National government heads into the election with its Budget surplus target broadly intact, delivering a set of economic and fiscal forecasts marginally revised from May to reflect weaker commodity prices and a lower tax take. More>>

ALSO:

Convention Centre: Major New SkyCity Hotel And Laneway For Auckland

Today SKYCITY Entertainment Group Limited revealed plans to build a new hotel and pedestrian laneway of bars, restaurants and boutique shopping on land it owns in the Nelson and Hobson Streets block, expanding the SKYCITY Entertainment Precinct. More>>

ALSO:

Igniting The Spark: Bringing The Digital Enabler To Life

Changing a name is, relatively speaking, the easy part of a re-invention. Changing a culture, getting all the ducks in a row, turning yourself inside-out to become customer-inspired is a much bigger challenge. More>>

ALSO:

Ebola And NZ: Targeted Screening At Airport But Risk Low

The risk of any cases of Ebola in New Zealand remains very low, but health and border authorities are well prepared... anyone arriving in New Zealand who in the last three weeks has visited countries affected will be screened for symptoms of the disease. More>>

ALSO:

Scoop Business: Brewer Seeking Crowd-Funding Cancels Shareholders’ Dividends

Shareholders in Renaissance Brewing company, the first business to seek equity through crowd-funding in New Zealand, have cancelled their claim on $147,000 of accumulated earnings “to make Renaissance a more attractive investment opportunity.” More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news