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ANZ to appeal New Zealand class action ruling
NBR Staff
Fri, 29 May 2026
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Fri 29 May 2026 04:24:41pm
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Fri 29 May 2026 04:24:41pm
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Burger Fuel Middle East sales down 26%
Burger Fuel's Middle Eastern operations faced disruption from the Iran war, with sales down 26% during FY26. The listed fast food retailer behind Burger Fuel, Shake Out, and Winner Winner said FY26 sales were not materially impacted by the war and the 26% decline was partly attributed to a store closure. But sales had materially declined since year-end with the ongoing conflict, it added. Middle Eastern operations represented just under 3% of total sales. As of the year ending March, it had 62 Burger Fuel stores domestically and three in the Middle East, as well as three Shake Out stores and one Winner Winner restaurant. The company also had 29 Shake Out virtual stores operating out of Burger Fuel locations. Group net profit for the year rose 92% to about $1.97m, which was attributed to increased sales, reduced legal fees and a one off gain from the sale of company-owned store. Meanwhile, total sales rose just under 3% to $111.4m.
Bowman buys more Savor shares off CEO
Philip Bowman has increased his stake in listed hospitality company Savor, purchasing shares off CEO Lucien Law.
Bowman – chair of Sky TV, Tegel, and KMD Brands – has steadily grown a substantial stake in Savor through his entity Vinula Pty.
A disclosure to the NZX showed Savor's Law today sold Bowman 1.25 million shares for $200,000.
As a result, Bowman's stake in the company rose to 14.18% from 12.56%.
In March, Bowman's entity Vinula Pty purchased 1.5 million shares from Law for $285,000.
Bowman is Savor's second largest shareholder behind an entity owned by NBR Rich Listers, the Cushing family, which holds 15.34%.
Despite experience across retail and hospitality, at the end of 2025 Bowman told NBR he was not looking to become a Savor director at the moment, and wasn’t sure if he planned to remain living in Dubai or not.
TruScreen reports 42% bump in sales as it raises more money
Dual-listed cancer screening device company TruScreen has reported unaudited annual sales of $2.4 million for FY26, up 42% on the prior year. It has broadened its reach, with first sales in India and Indonesia, though China remains its largest market at 61% of sales. It had an R&D tax offset of $389,349.
It is still loss-making, with a $2.25m loss for the period, slightly worse then the $2.24m reported in FY25 as the company incurred extra costs from growing its distributor base and focus on large public screening programmes.
TruScreen raised $1.82m in an over-subscribed placement this month as part of an on-going $2.9m capital raise, with the second part of the raise – a one-for-five renounceable rights offer – opening today at price of 13 cents per share.
The money raised is earmarked for market development and working capital as it had just $1.4m cash left in hand at March 31. It had already raised $4m during the year.
Martin Dillon is rejoining the company as CEO on June 1.
Revenue rises for Cooks Coffee Company but profit drops
Cooks Coffee Company reported total store sales for its Esquires store increased 22.8% to $95.8 million from $78m for the year ended March 31.
Within that, revenue for the listed food and beverage retailer was up 84% to 12.4m from $6.7m, and earnings before interest, tax, depreciation, and amortisation rose 5.9% to $1.3m.
However, net profit after tax declined by 61.3% to $315,000.
In the UK, 21 new stores were opened while nine were closed, taking the total to 82 stores. Meanwhile, outlets in Ireland increased to 23.
During the 2026 fiscal year, one new store was opened in Pakistan, and master franchise agreements were signed to enter India and the UAE.
New store openings continued into the new financial year from April, with two new stores opened in the UK and two in Ireland. An additional two new stores were committed to new international markets.
Tāiko Critical Minerals posts $8.75m loss
Tāiko Critical Minerals, which listed on the NZX in March, has reported an $8.75 million loss in the year ended March 31, 2026.
Tāiko listed its shares on the NZX on March 5 at a “reference price” of 11c for a market capitalisation of $45m. The company is pre-revenue and provided no prospective financial statements for the listing, with it existing to evaluate the Barrytown Critical Minerals Project in the South Island.
In March, it was forced to retract a “financial model” on the possible returns of the West Coast project, following intervention by NZX regulator NZ RegCo.
Shares in the company are at 23.5c.
2 Cheap Cars drives second-half momentum with steady profit
Listed used car dealer 2 Cheap Cars has reported steady revenue and profit despite a drop in vehicle sales.
The company said its profit in the year ended March was $3.2 million, compared with $3.3m last year. Revenue was down 0.3% to $81.7m.
It sold 7239 vehicles over the period, compared with 7675 the previous year.
2CC said the result was in line with previous guidance and underpinned by “significant improvement” in trading momentum in the second half, as well as stronger margins and vehicle procurement.
It said profitability was hit by increased carbon credit costs under the Clean Car Standard but changes to the settings helped in the final three months of the financial year.
Looking ahead, performance in the new financial year was encouraging amid higher fuel costs. “We are running a tight ship and, while broader market conditions remain impossible to predict, the improved trading momentum coming into the new financial year is encouraging,” chair Michael Stiassny said.
IkeGPS FY26 loss narrows as subscription revenue grows by a third
IkeGPS has reported a net loss of $7.5m in the year to the end of March, narrowed from a $16.3m loss in the prior year, after seeing revenue increase 6% over the same comparison.
The NZX and ASX-listed company, whose technology helps utilities such as lines companies manage their pole infrastructure, said its platform subscription revenue reached $19.2m, up 33% on last year. It had guided a higher growth rate for such revenue than last year, when it achieved 34% growth.
Earnings before interest, tax, depreciation, and amortisation improved from a $6.9m loss in FY25 to a $5m loss in FY26, although it saw positive underlying earnings in the month of March.
The company added 26 new subscription customers in its fourth quarter, bringing its total to 463 subscription customers at the end of March, representing an 8% increase on the prior year.
In terms of guidance, IkeGPS only said it expected platform subscription revenue in FY27 “at similar growth rates to those achieved in FY26”.
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