ERoad posts $161m loss after North American write-down
Fleet management technology firm ERoad plunged into a full-year loss of $161 million after a write-down of its North American business.
New Zealand-based fleet management technology firm ERoad plunged into a full-year loss after a write-down of its North American business, reports say. According to RNZ, the company posted a loss of $161 million.
A write-down generally refers to reducing an asset's carrying value below its fair value and can be a non-cash accounting item. Expectations for the company's North American operations ultimately weighed on the result.
Investors will focus on separating how much of the loss stems from the one-off write-down versus the underlying business. The company is expected to set out its forward strategy and cost steps. This article is informational and not investment advice.
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