Earnings Season: 5 NZX Stocks Declare Results

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Earnings Season: 5 NZX Stocks Declare Results

 Earnings Season: 5 NZX Stocks Declare Results
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Summary

  • The NZX is bustling with companies’ results, which are making the investors turn their heads.
  • 5G momentum drives Rakon to deliver a solid performance for FY2021.
  • Asset Plus’s Munroe Lane project would greatly help in strengthening its portfolio.

Kiwi investors are witnessing earnings season ahead of the winter. Many companies are publishing their financial results after the declaration of Federal Budget 2021 and the opening of the economic environment.

It would be interesting to see how these companies have fared amid the challenging times of the coronavirus pandemic.

Source: Copyright © 2021 Kalkine Media

Here’s a checklist of the 5 NZX stocks which are hitting the board with their financial results.

Rakon Limited

Rakon Limited (NZX:RAK) showcased impressive results for FY2021. Both its NPAT of NZ$9.6 million and underlying EBITDA of NZ$23.5 million were up 142% and 59%, respectively, on pcp. The Company achieved revenue of NZ$128.3 million during the said period, mainly on account of 5G momentum, which enhanced its growth.

Despite being a challenging year, RAK remained resilient and played to its strengths. It maintained a strong balance sheet with a cash position of NZ$5.0 million towards the end of the fiscal year.

The Company looks forward to higher revenue growth in FY2022, mainly on account of the significant orders procured by it. For the next year, Rakon foresees an underlying EBITDA between NZ$27 million-NZ$32 million.

On 27 May, at the time of writing, Rakon was trading down by 3.23% at NZ$0.900.

Read: Could These 6 NZX Penny Stocks Emerge As Multibaggers?

Pacific Edge Limited

Pacific Edge Limited (NZX:PEB), with a total revenue of NZ$10.4 million, announced a remarkable full-year result for the period ended 31 March 2021.

Its net cash and short-term deposits were recorded at NZ$23.1 million, increasing by 56% towards the end of the year.

Moreover, its operating revenue from test sales soared by 76% on pcp and clocked NZ$7.7 million.

It aims to increase the commercial adoption of its Cxbladder by the leading healthcare services, thereby delivering enhanced revenue for FY22.

On 27 May, at the time of writing, Pacific Edge was trading down by 2.48% at NZ$1.180.

Read: Are These 6 Stocks Gaining Any Volume On NZX?

Asset Plus Limited

Asset Plus Limited (NZX:APL) delivered a solid performance for 12 months ended 31 March 2021.

Its NPAT surged to NZ$15.95 million as compared to a loss of NZ$14.69 million in the preceding year. Also, because of effective cost management, its AFFO jumped from NZ$4.74 million to NZ$5.82 million during the year.

Moreover, the Company successfully raised capital worth NZ$60.2 million during the fiscal year and has secured the significant development project at Munroe Lane, Albany, which would greatly help in repositioning its portfolio.

APL’S NTA is valued at 44.8 cps and it would pay a final dividend of 0.45 cps.

On 27 May, at the time of writing, Asset Plus was trading flat at NZ$0.320.

Read: New Zealand Predicts Slump In House Price Growth. 5 Related NZX stocks

Stride Property Ltd & Stride Investment Management Ltd

Stride Property Ltd & Stride Investment Management Ltd (NZX:SPG) has announced a favourable FY21 result amid the challenging year.

The Group recorded a solid PAT of NZ$132 million and a portfolio of NZ$1.1 billion for the said duration. It’s NTA was valued at NZ$2.15 towards March end.

Both SPL and SIML have declared a Q4 FY21 dividend of 1.6075 cps and 0.87cps, respectively, which would be paid on 4 June 2021.

The Group continues to further enhance its business operations and the Board has confirmed a combined dividend of 9.91 cps for SPL and SIML during FY22.

On 27 May, at the time of writing, Stride Property was trading flat at NZ$2.350.

Read: 5 REIT Stocks To Be Considered In May 2021 - APL, PCT, PFI, SPG, IPL

Gentrack Group Limited

Gentrack Group Limited (NZX:GTK; ASX:GTK) published its half-year results for the period ended 31 March 2021 with increased revenue of NZ$51 million, up 0.7% on pcp.

The Company saw a considerable growth of 63.2% in its underlying EBITDA, which stood at NZ$7 million during the six-month period.

Gentrack foresees huge potential in clean tech market and anticipates FY21 EBITDA to be near NZ$10 million.

On 27 May, at the time of writing, Gentrack was trading up by 9.30% at NZ$1.880.

The financial results are of utmost importance to stakeholders as they reflect the financial well-being of a company. They hold the key to the future investment making decisions of the investors.

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