On June 8, 2020, S&P/NZX50 closed at 11,524, reflecting a rise of 3.16% and S&P/NZX20 rose by 3.09% to 7,709. On the same day, S&P/NZX10 increased by 3.65% to 11,926.
S&P/NZX All Health Care ended in green as there was a rise of 5.18% and S&P/NZX All Consumer Discretionary rose by 4.18%. Let us now have a look at the performance of individual stocks.
The stock of TRS Investments Ltd (NZX: TRS) rose by 50% to NZ$0.003 per share and share price of NZME Limited (NZX: NZM) witnessed an increase of 26.92% to NZ$0.330 per share.
AWF Madison Posted Results for Year Ended March 31, 2020
AWF Madison (NZX: AWF) has made an announcement of an after-tax profit of $2.7 Mn for the year to March 31, 2020, reflecting a rise from $2.0 Mn a year ago. The company’s EBITDA recovered strongly in FY 2020 and the figure stood at $12.4 Mn, a rise from $7.6 Mn in FY 2019.
The company’s revenue stood at $264 Mn, a fall of 1.6% and its NPAT amounted to $2.7 Mn, up by 33%. There was 10-month contribution from JacksonStone & Partners and the company has decided that there would be no final dividend because of economic uncertainty.
In the white collar segment – Madison, Absolute IT as well as JacksonStone & Partners – the revenues witnessed a rise from $151.9 Mn in FY2019 to $166.1 Mn in FY2020, out of which JacksonStone made the contribution of $27 Mn.
The company stated that continued investment towards technology infrastructure as well as operational platforms served it well. This has not only enhanced internal efficiencies but has also expanded the capability as well as service offerings that the company is able to provide to its clients.
SKC Rose 3.13% on June 8, 2020
The New Zealand Government has made an announcement that the country will be moving to Alert Level 1 at 11.59 pm on June 8, 2020.
At Alert Level 1, there would be no restrictions with regards to mass gatherings and physical distancing requirements for the businesses, including the company’s New Zealand properties. From 9 June 2020:
- Events and promotions would recommence
- Electronic gaming machines and gaming tables would be operating as usual without the requirements of physical distancing
- Members of public would be able to return to SkyCity casinos.