Latest New Zealand News

OFX Group has accepted a recommended all-cash takeover bid from UK-based Equals at $1.00 per share, more than doubling its share price from early February. The deal values OFX at $247 million equity and hinges on due diligence, debt financing, and shareholder approval, while the company reports steady growth in its corporate payments business and strong non-FX revenue.

Alcidion delivered a record Q4 FY26 operating cashflow of $7.7 million and secured a $35 million UK contract, while completing a strategic acquisition that expands its ANZ footprint.

Tourism Holdings Limited has upgraded its FY26 underlying net profit after tax to around $46 million, beating earlier guidance. The company reports strong vehicle sales in New Zealand and robust late bookings, particularly in North America, while net debt ended lower than expected.

Mercury NZ invests US$30 million for a minority stake in Datagrid NZ, aligning with its strategy to power long-term renewable demand from large-scale digital infrastructure projects.

Vita Resources reports promising initial auger drilling results at Ninnis Gold Project, prompting an expanded program targeting key fault zones. The company also secured $2.9 million in a two-tranche placement to fund exploration across its diverse portfolio.

Cleanaway Waste Management appoints Nigel Simonsz as new CFO following Paul Binfield’s departure, while confirming FY26 underlying EBIT at around $470 million, mid-point of prior guidance.

KMD Brands expects a 5% rise in FY26 sales and a more than doubling of EBITDA, while planning to divest its Southeast Asian manufacturing facility over the next year.

SkyCity Entertainment Group has signed a non-binding heads of agreement to sell The Grand Hotel, aiming to boost financial flexibility through asset monetisation and debt repayment.

XPON Technologies delivered a positive unaudited Group EBITDA of $1.1 million for FY26, supported by strategic divestments and a focus on its AI marketing platform Wondaris. The company improved gross margins and maintained strong customer retention despite divesting non-core businesses.

AFT Pharmaceuticals has received tentative US FDA approval for its Scomara cream to treat Facial Angiofibromas in Tuberous Sclerosis, but US commercialisation is postponed until 2029 due to orphan drug exclusivity. The approval bolsters regulatory prospects in other key markets where AFT anticipates competitive advantages.

AFT Pharmaceuticals secures tentative FDA approval for Scomara cream to treat rare facial tumours but faces a US launch delay due to orphan drug exclusivity. The approval bolsters prospects in other markets where AFT expects competitive advantages.

Change Financial has confirmed meeting its upgraded FY26 revenue and underlying EBITDA targets, powered by strong growth in its Australian and New Zealand PaaS business. The company enters FY27 with record monthly metrics but holds back on full-year guidance amid client migration uncertainties.