On June 16, 2020, S&P/NZX50 ended the session in green as the index witnessed a rise of 0.83% to 10,954 while S&P/NZX20 rose by 0.75% to 7,302. On the same day, S&P/NZX10 ended at 11,280, reflecting a rise of 0.80%.
S&P/NZX All Materials rose by 2.51% while S&P/NZX All Health Care declined by 0.17%. We will now have a look at the performance of individual stocks.
On June 16, 2020, the share price of Me Today Limited (NZX: MEE) witnessed a rise of 27.91% on an intraday basis to NZ$0.110 per share. Me Today Limited came forward and made an announcement about appointment of Beauden Barrett as brand ambassador for Me Today® brand globally.
Also, the stock of Westpac Banking Corporation (NZX: WBC) rose by 3.99% to NZ$19.530 per share. On the other hand, the share price of Smartpay Holdings Limited (NZX: SPY) fell by 5.22% to NZ$0.545 per share.
The below image provides an idea as to how the stock price of SPY has trended in the span of 90 days:
Stock Performance (Source: NZX)
APL Releases Results for Year to March 31, 2020
Asset Plus Limited (NZX: APL) made an announcement about the financial results for the year to March 31, 2020, it which it posted a net loss after tax amounting to $14.69 Mn, down from $3.80 Mn profit in the previous year.
The company’s AFFO (or adjusted funds from operations) amounted to $4.74 Mn. Notably, this was in line with previous financial year. APL added that higher net rental income received was offset by the increased due diligence costs. Also, no dividend would be paid for fourth quarter because of the impact of coronavirus. It was mentioned that the COVID-19 impact further reinforces the adopted approach towards diversified, value-add strategy which ultimately would be increasing portfolio size.
With respect to balance sheet, debt is currently drawn to $49.25 Mn, reflecting LVR of 34.3%. The NTA is 56.7 cps (a decline from 69.4 cps in the prior year) because of unrealised revaluation loss on investment property.