Story without Video

Hawke’s Bay Businessman Makes Billionaire Status

Story without Video

Event Details





Despite some analyst qualms about tech stocks hitting the kind of giddy multiples last seen during the dot-com boom, Xero shares have held yesterday’s huge gain – and continued heading skyward.

Xero’s clocked another annual loss yesterday, but did make a slim profit ($1.4 million) profit in the second half and enjoyed its first cashflow positive year – sending its shares up 10 per cent in a session to a record high of A$60.15.

In early trading today, it rose again to $A61.77.

The Wellington-based, ASX-listed company now has a market cap of A$8.7 billion ($9.2b)

That makes the Drury family’s 12.58 per cent stake in Xero worth A$1.1b ($1.2b).

Photo: Xero founder Rod Drury. Photo / Mike Scott.

 For more on this and other great Hawke’s Bay stories go to hawkesbaytoday.co.nz

Posted: 18 May 2019




Open Jobs
  • Presenter Services Community Manager – Hastings District Council

    Hastings District Council

    View job offer

  • Electrical Estimator – Hillmac Electrical Ltd

    Hillmac Electrical

    View job offer

  • Water Serviceperson – Napier City Council

    Napier City Council

    View job offer

  • Waste Water Operator – Napier City Council

    Napier City council

    View job offer