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

 

Sky City : Auckland Convention Centre Cost Jumps By A Fifth

SkyCity Entertainment Group, the casino and hotel operator, is in talks with the government on how to fund the increased cost of as much as $130 million to build an international convention centre in downtown Auckland, with further gambling concessions ruled out. The Auckland-based company has increased its estimate to build the centre to between $470 million and $530 million as the construction boom across the country drives up building costs and design changes add to the bill.
More>>

ALSO:

RMTU: Mediation Between Lyttelton Port And Union Fails

The Rail and Maritime Union (RMTU) has opted to continue its overtime ban indefinitely after mediation with the Lyttelton Port of Christchurch (LPC) failed to progress collective bargaining. More>>

Earlier:

Science Policy: Callaghan, NSC Funding Knocked In Submissions

Callaghan Innovation, which was last year allocated a budget of $566 million over four years to dish out research and development grants, and the National Science Challenges attracted criticism in submissions on the government’s draft national statement of science investment, with science funding largely seen as too fragmented. More>>

ALSO:

Scoop Business: Spark, Voda And Telstra To Lay New Trans-Tasman Cable

Spark New Zealand and Vodafone, New Zealand’s two dominant telecommunications providers, in partnership with Australian provider Telstra, will spend US$70 million building a trans-Tasman submarine cable to bolster broadband traffic between the neighbouring countries and the rest of the world. More>>

ALSO:

More:

Statistics: Current Account Deficit Widens

New Zealand's annual current account deficit was $6.1 billion (2.6 percent of GDP) for the year ended September 2014. This compares with a deficit of $5.8 billion (2.5 percent of GDP) for the year ended June 2014. More>>

ALSO:

Still In The Red: NZ Govt Shunts Out Surplus To 2016

The New Zealand government has pushed out its targeted return to surplus for a year as falling dairy prices and a low inflation environment has kept a lid on its rising tax take, but is still dangling a possible tax cut in 2017, the next election year and promising to try and achieve the surplus pledge on which it campaigned for election in September. More>>

ALSO:

Job Insecurity: Time For Jobs That Count In The Meat Industry

“Meat Workers face it all”, says Graham Cooke, Meat Workers Union National Secretary. “Seasonal work, dangerous jobs, casual and zero hours contracts, and increasing pressure on workers to join non-union individual agreements. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

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