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- The main equity index NZX 50 closed up on Thursday, gained 29 points intraday.
- There were gainers and losers in Thursday’s trade, depending what the company had to offer in terms of its updates, earnings, and potential for growth.
- Certain market conditions and sectoral performance also made stocks trade in red or green.
Due to a number of reasons such as the prevailing market conditions, the new announcements made by a company as well as the industrial trends and developments witnessed in the recent times, several stocks traded up while several traded down on Thursday. Let’s have a look at some gainers and losers in Thursday’s trade.
Blis Technologies Limited (NZX:BLT)
This probiotic-creating company works in heath and skincare. Recently, it announced the approval of a new probiotic prototype called the BLIS Q24TM. This will be used to develop a skincare product, while it shall be sold under the “Unconditional Skincare Co” brand name. While only a single product will currently be launched, the Company hopes to bifurcate into creating a whole line of personal care products in the future.
On March 25, Blis Technologies Limited traded at NZ$0.071, up by 10.94%, at the time of writing.
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Foley Wines Limited (NZX:FWL)
This wine manufacturing Company is known for its signature blends. According to its half-year report released in late February, it was revealed that it had earned a profit after tax of NZ$2,566,000, which was a 5.8% decline from pcp. In New Zealand, however, the Company witnessed a growth in case sales of up to 92,000 or 8%. The one-of-its-kind business model that the Company functions by in New Zealand has helped it fight against the coronavirus pandemic’s effects without suffering losses.
On March 25, Foley Wines Limited traded at NZ$1.850, up by 2.78%, at the time of writing.
Solution Dynamics Limited (NZX:SDL)
Offering data processing, electronic archiving, as well as data capture services, Solution Dynamics has been in existence since 1996. In its latest financial results release, it has announced that the NPAT earned was NZ$1.45M, whereas the cash flow received through operations was NZ$2.16M. The operating revenue was recorded to be NZ$18.52M or a 17.3% increase from the PCP.
On March 25, Solution Dynamics Limited traded at NZ$3.000, up by 3.45%, at the time of writing.
Geo Limited (NZX:GEO)
This SaaS-based organisation is known for its work in mobile management programs. In late February, the Company released its half-year results and stated that the revenue recorded was NZ$2.1M, which was 7.4% lower than pcp. The EBITDA witnessed an improvement of 91.1%, whereas there was a 76.1% improvement in cash flow for operations.
On March 25, Geo Limited traded at NZ$0.100, down by 8.26%, at the time of writing.
Rakon Limited (NZX:RAK)
Offering timing and frequency control solutions, the Company works with defence, telecommunications, and global positioning as the main target areas. According to the half-yearly earnings update released by the Company, the EBITDA1 is expected to be between NZ$20M to NZ$22M. The uniform deploy of 5G networks besides other factors will continue to fuel good business for the Company, as it expects for this year.
On March 25, Rakon Limited traded at NZ$0.920, at the time of writing.
Geneva Finance Limited (NZX:GFL)
This financial service provider is known for its operations in the SME as well as consumer credit markets. The Net profit before tax was predicted to be between NZ$6.3M to NZ$6.5M. The Company further said it was looking at a potential dividend of NZ$3.50 cents per share in the time to come. Since the business has shown resilience over the past few months, the Company believes the good work to continue in the future.
On March 25, Geneva Finance Limited traded at NZ$0.600, down by 3.23%, at the time of writing.