How Markets in New Zealand Performed?

  • Jun 05, 2020 NZST
  • Team Kalkine
How Markets in New Zealand Performed?

On June 5, 2020, S&P/NZX50 ended the session in red as the index witnessed a fall of 0.52% to 11,172 while S&P/NZX20 encountered a decline of 0.74% to 7,478. On the same day, S&P/NZX10 fell by 1.17% to 11,505.

S&P/NZX All Consumer Staples witnessed a fall of 1.50% while S&P/NZX All Energy rose by 1.11%. We will now have a look at the performance of individual stocks.

On June 5, 2020, the stock of Kathmandu Holdings Limited (NZX: KMD) witnessed an increase of 10.91% on an intraday basis to NZ$1.220 per share. The share price of Air New Zealand (NZX: AIR) rose by 8.61% to NZ$1.640.

On the other hand, the stock of Pushpay Holdings Limited (NZX: PPH) witnessed a fall of 2.89% to NZ$7.060 per share.

Announcement of Results by Infratil Limited

Infratil Limited (NZX: IFT) has recently made an announcement about its results for the year ended March 31, 2020 and the net surplus from continuing operations stood at $508.8 Mn, as compared to $64.4 Mn in the previous year. The company stated that 13.5% rise in underlying EBITDAF reflected changes with respect to the portfolio as well as a growing contribution from the data and communications infrastructure.

The company is possessing robust capital position and liquidity and has multiple levers to manage near to medium term capital commitments. It was mentioned that operating revenue reflects reduced period of contribution from Tilt’s Snowtown 2 wind farm, as well as impact of lower wholesale electricity prices and lower generation volumes for Trustpower. Notably, FY2020 annual incentive fee is payable in three tranches of $41.7 Mn.

With regards to the dividends, the company notified the market about final dividend amounting to 11.00 cps which is payable on 15th June 2020, partially imputed with 2.5 cps of imputation credits attached. FY2020 final dividend happens to be on par with that of FY2019 final dividend.

MPG Ended the Session in Green

In the release dated May 6, 2020, Metro Performance Glass Limited (NZX: MPG) stated that, since New Zealand has moved to COVID-19 Alert Level 3, its 4 NZ manufacturing sites have recommenced operations while all Metro Direct branches throughout NZ have reopened.  

MPG has further strengthened the financial position this year and the company has also retained undrawn borrowing headroom of over $50 million and a cash balance of approximately $15 million at March 31, 2020.  

 


Disclaimer
The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. The above article is NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) under discussion. Kalkine does not in any way endorse or recommend individuals, products or services that may be discussed on this site.

 

   
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