10 Stocks Making Headlines On NZX - KMD, SKO, OCA, TRU, NZL, CEN, AFC, CNU, SPK, PHL

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New Zealand’s stock market is constantly buzzing with the updates and announcements of numerous companies. Kiwi telecommunications entity 2degrees is aiming towards IPO on both ASX and NZX later this year or 2022. While Auckland based mobile games developer Ninja Kiwi is all set to be bought by Sweden domiciled entity MTG for approximately 1.6 billion crowns.

On 25 March, at the time of writing, the benchmark index S&P/NZX 50 was trading in green at 12,403.860 basis points, rising by 0.36%. The benchmark index is getting a strong support from various indices like S&P/NZX All Energy, trading up by 1.06% and S&P/NZX All Health Care trading up by 0.78%.

With this overview, let us quickly go through the 10 NZX stocks that are drawing investors’ attention with their latest releases.

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Kathmandu Holdings Limited (NZX:KMD)

NZ’s leading retail chain, Kathmandu Holdings Limited, in its Investor’s Conference announced an outstanding FY21 performance by the Company.

Its renowned brands, Rip Curl and Oboz delivered strong sales and profit during the first half of the year amid the challenging economic conditions.

The Group sales were on a high at 12.9% on pcp reflecting its diversification strategy with underlying EBITDA at $48.2 million. Due to technological innovations, the Company’s online sales climbed to $36 million, up by 18.5%. KMD soon plans to open online store for Oboz to further enhance its online sales penetration.

The Company declared an interim dividend of $2.0 cps payable on 4 June 2021.

On 25 March 2021, at the time of writing, KMD stock was trading flat at $1.340.

Serko Limited (NZX:SKO)

New Zealand’s travel technology-based company, Serko Limited has announced a major update on its partnership with Booking.com.

Both the companies have initiated the shift in a phased manner to the all-new Zeno powered platform from the existing Booking.com for Business users. Plans of adding regional content and languages are in the pipeline.

Through this, Serko aims at offering flights and ground transportation to the business travellers apart from the existing services of providing accommodation alternatives.

On 25 March 2021, at the time of writing, SKO was up by 1.56% at $6.500.

Oceania Healthcare Limited (NZX:OCA)

 

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Provider of residential aged care, Oceania Healthcare Limited has successfully completed its $80 million fully subscribed placement which was thoroughly backed by the investors. This placement was set at a rate of $1.30 per share, with opening of trading from 29 March 2021.

Moreover, the earlier halt on Oceania’s trading has been lifted and its shares can now be traded in the market from 24 March 2021 onwards.

On 25 March 2021, at the time of writing, OCA was down by 0.75% at $1.320.

TruScreen Group Limited (NZX:TRU)

Dealing in medical devices, TruScreen Group Limited declared that its cervical cancer screening device could be used even under the trying conditions.

Studies in China revealed the constraint of HPV testing and colposcopy amid the tough Covid-19 conditions and its effect on the use of TruScreen cervical cancer screening device under the absence of the above-mentioned tests.

However, researchers opined that the cervical cancer screening device of TruScreen can be used even during the non-availability of cytology and colposcopy, thereby leading to the continuous acceptance of the device across the globe.

On 25 March 2021, at the time of writing, TRU was down by 0.98% at $0.101.

New Zealand Rural Land Company Limited (NZX:NZL)

Dealing in rural agricultural land across NZ, New Zealand Rural Land Company Limited declared the success of the Mokoreta, Southland’s “Drop Test”.

The test was basically conducted to access the integrity of the pond, which after the result made a way for the unconditional acquisition of Mokoreta, Southland by NZL.

On 25 March 2021, at the time of writing, NZL was down by 0.98% at $0.101.

Contact Energy Limited (NZX:CEN)

One of the country’s leading electricity generators and fuel providers, Contact Energy Limited in unison with Nova Energy has entered into an agreement, wherein CEN shall buy 3.6PJ of gas and sell off the same quantity of electrical energy that Nova would have generated instead from its facility.

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This would help CEN in the effective and efficient use of the Taranaki plant during the winters, when there is a decrease in the hydro inflows and gas obtainability, thus leading to reduced carbon emissions.

On 25 March 2021, at the time of writing, CEN was up by 0.59% at $6.850.

AFC Group Holdings Limited (NZX:AFC)

Auckland based, AFC Group Holdings Limited specialises in food research and development. The Group announced the inclusion of Ms Jingwei MA (Karen) to its Board w.e.f. 29 March 2021.

Moreover, it recently witnessed the resignation of its Director, Hao Long. However, Long will continue to function as AFC’s Chief Financial Officer.

Chorus Limited (NZX:CNU)

One of the largest telecommunications companies across New Zealand, Chorus Limited scheduled a briefing for its investors and analysts on 26 March 2021 at 10:00 am (NZ time), to portray its Initial Asset Value modelling which it intends to submit to the Commerce Commission on 26 March.

On 25 March 2021, at the time of writing, CNU was down by 0.79% at $7.555.

Spark New Zealand Limited (NZX:SPK)

Another telecom giant, Spark New Zealand Limited has revealed its presentation on IT and Managed Services wherein, it made few financial disclosures.

According to the presentation, Spark being a diversified business group, recorded about $1,104 million from its IT & Managed Services out of the total group revenue. Further, it is expected that SPK’s IT and Managed Services will rapidly grow at 4-6% CAGR to FY23 with trading operations are now shifting to digital and cloud mode.

Under its 3-year strategy, Spark is focused on providing customer led end-to-end hybrid-cloud solutions and cloud transformation support. Its investments in 5G, loT and network slicing give SPK an edge over its competitors.

Moreover, SPK’s EBITDAI has shown an increase from $500 million in H1FY20 to $502 million in H1FY21. Further, free cash flows have shown a tremendous rise to $113 million in the half year as compared to pcp.

However, its net earnings have declined slightly to $148 million during the said period. Nonetheless, the Company announced an interim dividend of $12.5 cpc payable on 9 April 2021.

On 25 March 2021, at the time of writing, SPK was up by 1.47% at $4.485.

MUST READ: Samsung Collaborates With Spark New Zealand To Roll Out 5G In Christchurch

Promisia Healthcare Limited (NZX:PHL)

Promisia Healthcare Limited has passed few resolutions in its special meeting held on 24 March 2021.

The Company sought shareholders’ approval to issue both capitalisation and investment shares to Brankin Family Interest Trust. It would also be issuing director shares at 0.1 cps. PHL has also revealed its Share Purchase Plan (SPP) for which $1.3 million has been raised and the SPP ended on 24 March.

On 25 March 2021, at the time of writing, PHL was trading flat at $0.002.

(NOTE: Currency is reported in NZ Dollar unless stated otherwise)

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