On May 28, 2020, S&P/NZX50 ended the session in red as the index witnessed a fall of 1.74% to 10,857 while S&P/NZX20 fell by 1.91% to 7,295. On the same day, S&P/NZX10 declined by 1.90% to 11,324.
S&P/NZX All Health Care witnessed a fall of 2.81% while S&P/NZX All Financials rose by 1.11%.
On May 28, 2020, Blackwell Global Holdings Limited (NZX: BGI) and Tourism Holdings Limited (NZX: THL) ended the session in green as the prices of these stocks rose by 16.67% and 11.61%, respectively on an intraday basis.
BLT Ended the Session in Green
Blis Technologies Limited (NZX: BLT) has published results for 12 months ended March 31, 2020. In line with the market guidance, which was provided on April 9, BLT delivered revenue amounting to $10.6 Mn, which implies a growth of 29% on FY19 and EBITDA stood at $2.1 million, a rise of 130% on the previous year.
Following the maiden net profit in FY 2019, the company has managed to deliver a growth of 320% in net profit to $1.6 Mn.
During FY20, the company further built strong foundations for the future growth, it has also continued to build BLIS® Probiotics brand and it strengthened Research & Development pipeline while enhancing its IP position.
A Recent Update by CVT
Comvita Limited (NZX: CVT) has recently made an announcement about the intention to garner around NZ$50 Mn via NZ$20 Mn placement to the institutional investors, together with around NZ$30 Mn 1 for 4.15 pro-rata accelerated non-renounceable entitlement offer.
The company stated that the offer is fully underwritten by Forsyth Barr Group Limited and Craigs Investment Partners Limited.
As per the release, CVT continued to benefit from the robust demand for products because consumers are actively choosing natural products which have the potential to strengthen immunity.
Moreover, M?nuka honey harvest was very strong in terms of volume as well as quality which has set the company up nicely to meet robust demand in key target markets of North America and China.