- Goodman Property Trust reveals a statutory profit of $186.4m earned in half yearly results was down on pcp.
- Z Energy satted plan of action for improvement after recording a 48% decline in RC EBITDAF compared to pcp.
- Air New Zealand took the COVID hit in its stride and has made strategic changes to return to its pre-COVID levels in the upcoming period.
NZX listed companies often update the shareholders and general public on their recent business activities and results that have been declared by them. The impact of these updates can be witnessed in their share prices as well.
Investors can keep an eye on the latest updates by the companies, which comes handy while making their investment decision.
On the given backdrop, let’s take a peek at 3 NZX stocks now and check how they have performed on NZX.
Goodman Property Trust (NZX:GMT)
This dual listed (on ASX and NZX) Goodman Property primarily functions in the industrial property market, dealing in sectors such as logistics, business, and warehouse, with several outlets across the country.
According to the half-yearly report released in November 2020, the statutory profit earned by the Company was NZ$186.4m in comparison with NZ$236.4m earned in the previous year. The net tangible assets witnessed a rise of 5.6% to reach 182.4 cents per share.
The Company also reported operating earnings of $56m. The chairman of the organisation Mr. Keith Smith is of the view that the above-mentioned results have been attained despite the several challenges the Company was subjected to due to COVID-19 related restrictions.
The results achieved have been possible due to the capital management steps that have been taken, which have helped in maintaining an upward momentum for the Company.
On the 18 February 2021, Goodman Property last traded at $2.218, down by 1.36.
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Z Energy Limited (NZX:ZEL)
Supplier of fuel for mining, airlines, ships and trucks, Z Energy has gone through its fair deal of trials in the year 2020, as the travel restrictions meant bad business for them.
According to the half-year report for the period ending September 30, announced in November 2020 it was revealed that the RC EBITDAF for the duration was NZ$95m, which was a 48% decline from the previous year.
The Company further mentioned about the 4-point improvement plan. It consisted of the reduction of cost, an efficient management of capital. Besides this, they plan to monetise the scale of the business as well as holding of the market share.
On the 18 February 2021, Z Energy last traded at NZ$2.79, down by 0.71%.
Image Source: © Tupungato | Megapixl.com
Air New Zealand Limited (NZX:AIR)
The national carrier for New Zealand, Air New Zealand made headlines throughout 2020 since the travel restrictions were imposed worldwide implying reduced business for them for several months.
The annual report of the Company, as announced in August last year revealed that it incurred substantial statutory losses before taxation standing at $628m due to COVID-19. Also, there was 74% drop in the passenger revenue in the months from April to June last year.
Dame Therese Walsh, the Chairman for Air New Zealand stated she was impressed with the way the organisation held its ground in the eye of the storm. The Company would continue to make strategic changes so that it is able to reach pre-COVID levels of business in the near future.
On the 18 February 2021, Air New Zealand last traded at NZ$1.55, decreasing by 3.13%.