5 things to know about what happened on NZX so far - PEB, KMD, SPK, ERD, VGL

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With the economy witnessing new changes every day, stocks keep on fluctuating on NZX every day. The benchmark S&P/NZX50 Index had closed up 1.38% at 12,659.5 on Thursday. However, the index was down 0.2% to 12,606.96 points on Friday at the time of writing.

New Zealand recently announced that it would begin the trans-Tasman bubble from April 19 with few restrictions in case of any outbreaks on either side. On Thursday, NZ also imposed a ban on arrivals from India for 2 weeks due to a surge in  COVID-19 cases among people coming from India. Further measures taken by the government to deal with the pandemic and quarantine-free travel will also be important for the economy.

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Amid this backdrop, let’s have a look at the performance of these 5 stocks that have been bullish and bearish performers.

Pacific Edge Limited (NZX:PEB)

On 9 April, PEB advised that its Cxbladder bladder cancer diagnostic tests are now covered by United Healthcare (largest healthcare group in the US). The move will benefit Americans looking for better clinical solutions and health results for bladder cancer diagnosis.

The Group also entered into a trading halt on Friday pre-market open but resumed trading shortly after the announcement of positive coverage of Cxbladder tests by United Healthcare.

On 9 April, at the time of writing, PEB was trading at $1.22, up 23.23%.

Kathmandu Holdings Limited (NZX:KMD, ASX:KMD)

Kathmandu Holdings gave an outstanding performance in FY21. Rip Curl and Oboz posted robust sales and profit results in the first half of FY21 despite COVID-19’s impact due to KMD’s diversification strategy.

The Group’s EBITDA was up 19% to $48.2 million with sales up by 12.9% to $410.7 million. KMD resumed its dividend payments with NZ 2 cents per share, with interim dividend declared and to be paid on 4 June 2021, fully franked for the Australia-based shareholders, and not imputed for the NZ shareholders.

The Group also confirmed the retirement of its Director Xavier Simonet on 9 April.

On 9 April, at the time of writing, KMD was trading at $1.41, up 0.71%.

Spark New Zealand Limited (NZX:SPKASX:SPK)

Spark registered a decline of 1.5% in its revenue for H1 ended 31 December 2020 driven by the loss of higher-margin mobile roaming revenue and partly due to lower migration in the period. However, its underlying performance stayed robust with service revenues up 3.8% and 4.6% growth YOY in cloud, security, and service management revenues.

The Group narrowed its FY21 EBITDAI guidance range, which is now at $1,100 million to $1,130 million and confirmed full-year dividend guidance to the top end of the range at 25 cps. Spark paid an interim dividend of 12.5cps for FY21.

On 9 April, at the time of writing, SPK was trading at $4.44, down 1.22%.

EROAD Limited (NZX:ERD, ASX:ERD)

EROAD announced Friday that it had entered into a deal with Ventia, its largest Australian enterprise customer. Ventia has signed a 5-year deal for monthly access to EROAD's SaaS products, with plans to add 2,500 Ehubo 2 devices to its Australian fleet and 1,500 more to its NZ fleet.

In March, the Group appointed Casey Ellis for the position of President, North America, and Norm Ellis (previously President, North America) for the newly created role of the Executive General Manager for Enterprise.

On 9 April, at the time of writing, ERD was trading at $4.99, up 6.62%.

Vista Group International Limited (NZX:VGL, ASX: VGL)

Vista Group recently provided a governance update, in which it unveiled its plans to deliver on its diversity and inclusion goals. It aims to capture the market through global tech, SaaS, and capital market expertise, with plans to expand in white spaces across the world of movies.

VGL also has a focus to make Vista Cloud, its newest innovation, a new generation app and hiring & retaining the best talent for its numerous business functions.

The Group intends to hold its next Annual Meeting on 26 May 2020.

On 9 April, at the time of writing, VGL was trading at $2.18, down 0.91%.

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


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