ERoad on target

‘From swamp to concrete’

ERoad met its unit sales expectations in the third quarter of the 2018 financial year, lifting total contracted units by 17 per cent. The logistics and fleet management firm said total contracted units, a non-GAAP measure it uses, rose to 69,391 in the three months ended December 31, from 59,538 at the end of September. In its established market of Australia and New Zealand, it had 9.6 per cent growth to 54,579 contracted units, while in its commercial market in the US it had 52 per cent growth to 14,812 units. Both growth rates were in the middle of the range it gave in an investor presentation last month ahead of a $15.5 million share placement to new and existing investors at $3.04 a share. Some $5m of the shares sold in the placement came from NMC Trustees, which is associated with ERoad’s chief executive, Steve Newman. The Government has extended its medium-scale adverse event classification to the drought-hit Grey and Buller districts of the South Island’s West Coast. These are the first South Island additions to the medium-scale event, which was announced for regions of the lower North Island just before Christmas. “While last week’s rainstorm left parts of coastal New Zealand drenched, the famously wet West Coast has been struggling through an unusually hot, dry start to summer and missed out on the much-needed rain,” Agriculture Minister Damien O’Connor said. “We are keeping a watching brief on neighbouring areas, including Murchison, which have also against PVL after selling various loans to a unit of the action’s funder in 2013. While a deal has been reached with the developer’s auditor PwC, the liquidator was still pursuing PVL’s former directors Austin Forbes, Alister Johnston, Gordon Hansen, Adolf de Roos, Daniel Godden and their insurer missed out on the rain,” he said. On the back of an extremely wet winter that left many farmers unable to grow pasture or crops for spring, the early and unusual dry start to summer turned West Coast pastures “from swamp to concrete”, he said. “It was agreed that while farmers needed to plan for the worst, there was hope that the forecast rainstorms could break the drought before central Vero Liability Insurance. government assistance became necessary. “However, the Grey and Buller districts now meet the criteria for a medium-scale event,” O’Connor said. The classification gives the local Rural Support Trust and other recovery organisations a funding boost of up to $50,000. The classification lasts for six months unless things change substantially beforehand. Company president Gwynne Shotwell said the Falcon 9 rocket “did everything correctly” and suggestions otherwise were “categorically false”. Northrop Grumman — which provided the satellite for an undisclosed US government entity — said it could not comment on classified missions.