New Zealand's Straker slips on non-renewal of Nike's contract

Arbitr

26/05/2025 02:17

** Straker STG.AX slips 8.6% to A$0.48, lowest since April 10

** Language and subscription services provider says Nike NKE.N will not renew its legacy services agreement beyond current term, which ends on December 15, 2025

** Notes cessation of contract to negatively impact co's FY26 adjusted EBITDA by NZ$0.3 mln ($173,855)

** Adds revenue attributable to Nike represents 3.3% of co's FY25 revenue

** STG loses 15.8% YTD

($1 = NZ$1.6681)

 (Reporting by Nikita Maria Jino in Bengaluru)

 ((Nikita.Jino@thomsonreuters.com;))