WEL Networks Limited, an electricity distributor, has inked a conditional agreement to purchase NZ ventures of Infratec from Alpine Energy Limited. Infratec focuses on large solar photovoltaic cells and battery solutions, and it also provides ground-breaking energy solutions in the New Zealand and Pacific regions.
Arvida Reports Strong Growth in Operating Cash Flow
For the six months ended 30 September 2020, Arvida Group Limited (NZX: ARV) reported revenue of $86.2 million, up by 8% Y-o-Y, and operating cash flow of $52.9 million, up by 74% Y-o-Y. The company settled a $79.2 million sales of occupation right agreement, with $36.7 million of new sales and $42.5 million of resales.
* Services Industries Remains the Biggest Contributor to NZ’s GDP
The goods-producing industry holds the second position, with a total contribution of 19% in the share of the economy.