How New Zealand Markets Have Performed?

  • May 27, 2020 NZST
  • Team Kalkine
How New Zealand Markets Have Performed?

On May 27, 2020, S&P/NZX50 ended the session in green as the index witnessed a rise of 1.22% to 11,049 while, on the same day, S&P/NZX20 increased by 1.06% to 7,437. Also, S&P/NZX10 rose by 1.11% to 11,543.

S&P/NZX All Industrials ended in green as there was an increase of 4.48% while S&P/NZX All Consumer Staples witnessed a fall of 0.93%.

We will now have a look at the performance of individual stocks. On May 27, 2020, SeaDragon Limited (NZX: SEA) and New Talisman Gold Mines Limited (NZX: NTL) witnessed an increase of 22.22% and 14.29%, respectively on an intraday basis. On the other hand, PaySauce Limited (NZX: PYS) fell by 4.55% on an intraday basis to NZ$0.420 per share.

Recent Update by ENS

iSell Pty Limited, which happens to be an associated entity of Enprise Group Limited (NZX: ENS), wrapped up rights issue raising new equity of A$1,168,710, which includes A$435,000 cash from the new institutional investor. As per the release, funds are to be utilised towards accelerating the international sales.

The Enprise Group Board decided to take part in iSell rights issue as well as increase holding to control position (50.8%). iSell is, therefore, no longer classified as the joint venture for accounting purposes and it has become a subsidiary of Enprise Group.

Mainfreight Releases Financial Results: A Brief Look

Mainfreight Limited (NZX: MFT) has announced full year financial results to March 31, 2020 and the company witnessed satisfactory improvement on the previous year. Its sales revenue for the year amounted to $3.09 billion, and its net profit before abnormals stood at $147.98 Mn. The company stated that dividend of 34 cps has been approved and it is payable on 17th July 2020.

The company recorded operating cash flows of $300.80 Mn ($200.16 Mn pre-NZ IFRS 16), reflecting a rise from $197.42 Mn in the previous year, which implies increased profitability as well as acceptable cash collection. MFT’s current debt facilities amounted to $499 Mn, out of which $235 Mn is undrawn.

The company’s net debt, as at 31st March 2020, stood at $157.38 Mn, reflecting a rise from $130.48 Mn at 31st March 2019, a rise of $26.90 Mn.

 


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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