On May 20, 2020, S&P/NZX50 ended the session at 10,788 which implies a marginal fall of 0.02% while S&P/NZX20 encountered a fall of 0.14% to 7,256. On the same day, S&P/NZX10 was down by 0.29% to 11,256.
S&P/NZX All Materials witnessed a fall of 2.74% while S&P/NZX All Real Estate ended in green as there was an increase of 1.68%.
Let us now have a look at the performance of stocks on May 20, 2020. New Talisman Gold Mines Limited (NZX: NTL) and ikeGPS Group Limited (NZX: IKE) ended in green as these stocks witnessed a rise of 14.29% and 10.14%, respectively on an intraday basis. On the other hand, Comvita Limited (NZX: CVT) ended in red as the stock price fell by 4.55% to NZ$4.200 per share.
ARG Posted Annual Results
Argosy Property Limited (NZX: ARG) has made an announcement about the fourth quarter (for the period ended March 31, 2020) cash dividend for 2020 financial year of 1.5875 cps. The record date for the dividend happens to be 10th June 2020 while payment date is 24th June 2020.
The company has also posted its results for 12 months ended March 31, 2020 in which its net distributable income rose by 3.8% and net distributable income per share was up 3.7%. For 12 months ended 31st March, the company’s net property income amounted to $99.7 Mn, which was 2.7% lower as compared to the prior year.
At March 31, 2020, ARG’s debt-to-total-assets ratio, after excluding capitalised borrowing costs, stood at 38.8%.
AFT Announces Results for the Year to March 31, 2020: A Brief Look
AFT Pharmaceuticals (NZX: AFT) stated that the revenues for the year rose by 24% to $105.6 Mn from $85.1 Mn in the prior financial year. Moreover, the revenues grew strongly in Australia (up by 22%), NZ (up by 12%) and in Asia (up by 130%).
The company’s net profit after tax increased to $12.7 Mn from the loss of $2.4 Mn, while its operating cash flow rose to $14.9 Mn from the previous year’s $1.1 Mn.
AFT stated that $43.2 Mn debt facility has been refinanced with Bank of New Zealand (or BNZ) on lower interest rates.
With respect to outlook, AFT stated that its operating profits for the year to March 31, 2021 are anticipated to rise to between $14.0 Mn - $18.0 Mn from the underlying operating profit of $11.4 Mn for this year.