S&P/NZX50 ended the session in green as there was a rise of 0.44% to 10,696 and S&P/NZX20 rose by 0.49% to 7,230. Also, on May 8, 2020, S&P/NZX10 witnessed a rise of 0.49% to 11,233. S&P/NZX All Information Technology witnessed a rise of 2.82% on an intraday basis while S&P/NZX All Materials witnessed a fall of 2.59%.
Coming to the individual performance of the stocks, New Talisman Gold Mines Limited (NZX: NTL) and Moa Group Limited (NZX: MOA) ended the session in green as these stocks rose by 14.29% and 13.58%, respectively on an intraday basis. On the other hand, Augusta Capital Limited (NZX: AUG) and CDL Investments New Zealand Limited (NZX: CDI) witnessed a fall of 5.26% and 5.06%, respectively.
PYS Ended in Green on NZX
PaySauce (NZX: PYS) has wrapped up the financial year ended March 2020 by experiencing continued growth.
On the YoY basis, total recurring revenue rose 122% to $429K for final quarter of FY 2020. Notably, number of employees in NZ which are being paid via the company’s payroll software rose 82% to 13,178 people. However, total number of employers that are processing pays via PaySauce rose 80% to 2,492.
One of the company’s chief objectives revolves around becoming profitable while continuing to grow as well as develop.
Rakon Limited Rose By 12.20%
Rakon Limited (NZX: RAK) has notified the market on March 5, 2020 that its previously announced guidance of underlying EBITDA in the range of NZ$9 Mn- $11 Mn for 12 months ended 31st March 2020 (excluding the impact of IFRS2 16 Leases) remained valid, even though there was some uncertainty about the supply chain as well as customer behaviour because of coronavirus outbreak.
The company has confirmed that, subject to completion of final accounting and audit, it anticipates to report results for the year to March 31, 2020 consistent with previous guidance.
TLS Announces Foxtel Impairment
Telstra Limited (NZX: TLS) has made an announcement that it expects to make non-cash impairment and write down of carrying value of 35% stake in Foxtel.
The company is anticipating to recognise an impairment charge amounting to around A$300 Mn against this investment in the results for FY 2020. This is expected to write down the value of the company’s share in Foxtel from A$750 Mn to around A$450 Mn.
However, final outcome remains subject to Board review as well as approval of results for FY 2020.