NPH, GTK, TRA: 3 buzzing stocks with FY22 results today

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NPH, GTK, TRA: 3 buzzing stocks with FY22 results today

 NPH, GTK, TRA: 3 buzzing stocks with FY22 results today
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  • Several companies have announced their earnings results today
  • NPH and GTK announced their half-year results, TRA announced its full-year results
  • Stocks of NPH and GTK were trading down on the NZX

It’s the earnings season in corporate New Zealand. Companies are announcing their FY22 full-year or half-year results.

Three companies announced their results today, indicating their performances in the financial year and how they beat the impact of the COVID-19 pandemic.

Napier Port Limited (NZX: POT)

Napier is a large port of New Zealand. It released its FY22 half-year results today. After the results, Napier Port Chairman Alasdair MacLeod and chief executive Todd Dawson hosted a conference call. 

The results reflect challenges due to supply chain disruptions. Even though the trading environment was favourable, seasonal labour shortages and global shipping disruptions created a challenge for customers, shippers and carriers. The revenue for the half-year was down 3.6% to NZ$50.7 million from NZ$52.6 million. Results from operating activities were also down 22.8% to NZ$16.4 million from NZ$21.3 million on pcp. Its NPAT was NZ$7.2 million, down 32.1% on NZ$106 million pcp.

Results, FY22, half-year, full year, Covid-19, NPAT, Financial performance, NPH, GTK, TRA

Source: © 2022 Kalkine Media®

Napier Port Chief Executive Todd Dawson said, “Shipping schedule reliability has continued to be unpredictable, resulting in missed or delayed vessel arrivals at Napier Port as well as at other ports throughout New Zealand and internationally.

With an eye on the future, Mr Dawson spelt out the focus on ensuring that regional markets remain interconnected and bring Wharf 6 to completion. The project continues to deliver ahead of the schedule and at a lower cost.

Also Read: Napier Port (NZX:NPH) downgrades earnings guidance for FY22
Related Read: NPH & POT: Are these 2 NZX port stocks impacted by Omicron surge

On 24 May, the stock was trading down 1.75% at NZ$2.800, at the time of writing.

Gentrack Group (NZX:GTK)

GTK is an NZ-based software solutions provider for utilities and airports. Today, it released its half-year results till 31 March. In the first half of the financial year FY22, the Company made excellent progress in two areas- revenue and sales and marketing. Despite disruptions in the UK energy market, its planned investments and sales and marketing activities did well with a favourable impact on EBITDA and cash.

Revenue was up due to a 15.2% increase in the Utilities business to NZ$48.9 million for this half year. There were new customers and new contracts for existing customers.

Its revenue was NZ$57.1 million, up 12.0% over 1H22, EBITDA was NZ$1.2 million, down NZ$5.8 million on pcp, and statutory NPAT was NZ$5.8 million loss versus H121.  

Read also : GTK, SCT & RAK: Can these NZX growth tech stocks be good options?

On 24 May, the stock was trading down 2.65% at NZ$1.470, at the time of writing.

Turners Automotive Group (NZX:TRA)

TRA delivered record results for FY22 despite a COVID-19-disrupted year and lockdowns due to the Omicron surge. The Group was resilient due to its long-term strategy of de-risking and building a more sustainable earnings model.

It reported a revenue growth of 15.5% to NZ$342 million, EBIT was also up 11% and NPAT was a significant 16% up at NZ$31.3%. Its full-year dividend was 23.0 cps, up 15% and EPS was 36.4 cps, up 16%.

The Group declared a final dividend of 7 cps, bringing the total dividend for FY22 to 23.0 cps.

All this was despite macro headwinds like inflation and interest rates.

Also Read: HLG, TRA, FCT & RBD: 4 NZX dividend stars of April

Grant Baker, chairman, said: “The Group has grown organically and expanded its auto retail footprint.”

On 24 May, the stock was trading up 2.68% at NZ$3860, at the time of writing.

Bottom line:  Several companies in New Zealand have announced their FY22 results. Variations in their results is due to the impact of COVID-19-related disruptions.


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