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

 

ETS Review: Modelling Documents Released

Three technical documents are being released to help New Zealanders engage with the Emissions Trading Scheme (ETS) review, Climate Change Minister Paula Bennett says. More>>

ALSO:

Northland: Govt Plan Targets Transport, Web, Maori Assets

The government has released a 10-year plan to attract investors and lift economic growth in Northland, a region that perennially underperforms the rest of the country even while being endowed with natural beauty, productive land, minerals, a potential workforce, scope for manufacturing, forestry and aquaculture, and proximity to Auckland. More>>

ALSO:

Statistics: Unemployment Rate Falls To 5.3 Percent

The unemployment rate fell to 5.3 percent in the December 2015 quarter (from 6.0 percent), Statistics New Zealand said today. This is the lowest unemployment rate since March 2009. There were 16,000 fewer people unemployed than in the September ... More>>

ALSO:

Employment: Labour Urges Talley’s To End AFFCO Lockout

Labour has urged Talley’s to resolve the ongoing industrial dispute with AFFCO workers which is having a severe effect on the employees, their families and their communities, Labour’s Workplace Relations spokesperson Iain Lees-Galloway says. More>>

ALSO:

Three Kings: Govt To Oppose Appeal Blocking $1.2B Auckland Housing Plan

Environment Minister Nick Smith and Housing New Zealand have joined legal proceedings in support of Auckland Council and Fletcher Building opposing a bid by community groups to only allow low-rise housing in a $1.2 billion housing redevelopment on the disused site of the Three Kings quarry. More>>

ALSO:

Transport: Jetstar Expands Regional Network With Three New Routes

More New Zealanders than ever before will have access to Jetstar’s affordable flights when new services take off today from Auckland to New Plymouth and Palmerston North, and Nelson to Wellington. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news