AWF Group, the contract labour firm that last year took on debt to acquire white-collar recruiter Madison, will probably launch a $12 million rights offer next year to reduce its borrowings and put some money in the kitty for potential future acquisitions. The Auckland-based company used debt to fund the $30 million purchase of Madison a year ago and expects to borrow a …

Moa Group posted a wider first-half loss after the unprofitable boutique beer maker restructured its fledgling business and changed distribution and brewing arrangements to underpin future growth. The Auckland-based company posted a loss of $3.21 million, or 9.5 cents a share, in the six months ended Sept. 30, from a loss of $3.04 million, or 10.1 cents, a year earlier, it said in …

ASB has trimmed its milk price forecast to $4.70 per kilogram of milk solids following dairy product prices in the latest GlobalDairyTrade auction falling to the lowest level in more than five years. The GDT average winning price slid 3.1 percent to US$2,561 overnight, the lowest level since August 2009, and down from US$2,649 two weeks ago. Some 39,613 tonnes of …