Why Are These Stocks Gaining on NZX- BRM, FWL, AIR, AMP, ARB?

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Summary

  • Barramundi Limited witnessing recent positive trading on the NZX.
  • Despite COVID-19-related slump in many sectors, Foley Wines performed well.
  • Air New Zealand working towards wider geographical range for customers.
  • AMP Limited witnessed substantial NPAT earnings in FY2020.

The year 2020 witnessed several ups and downs in different industries. Especially in the New Zealand Market, there have been several fluctuations witnessed over the course. Let’s have a look at some stocks that have witnessed an upward trend in recent times.

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Barramundi Limited (NZX:BRM)

This investment-based company fared well in its half-year performance till 31 December 2020. The operating profit earned in this period was NZ$36.1M and the total shareholder return was recorded at 52.8%. The NAV return was recorded at 22.5%. Robbie Urquhat, the Portfolio Manager for the Company, is of the view that the past 6 months have been fruitful for the Barramundi Portfolio, considering the difficulties being faced due to the COVID-19 pandemic. Though the next half of the year is expected to be as uncertain as the previous one, they hope the Company, through its efforts, can move towards normalisation in terms of economy.

On 23 February 2021, Barramundi was trading up by 1.03% at almost NZ$1, at the time of writing this article.

Foley Wines Limited (NZX:FWL)

The wine industry has surprisingly done well in the past year despite COVID-19-related restrictions. Foley Wines Limited offered a stock price of -177.94 in the previous year. Over the past month, there was a stock rise of 3.6% witnessed. The Company earned a NZ$0.06 for each NZ$1 equity worth. There has been a 14% rise witnessed in the net income. The Company hopes that through its focus on the Martinborough Winery, it shall be ready to serve premium quality wine to its customers by the time tourism and hospitality open back in full swing.

On 23 February 2021, Foley Wines Limited was trading flat at NZ$2.060, at the time of writing this article.

Source: Copyright © 2021 Kalkine Media Pty Ltd

Air New Zealand Limited(NZX:AIR)

Air New Zealand has witnessed a number of effects on its performance due to the COVID-19-induced travel restrictions since March 2020. Though a 74% drop has been witnessed in the passenger revenue ever since the restrictions were put in place, the Company handled the crisis with effective planning, which led it to being on a strong note despite the challenges being tough. As the restrictions are slowly being relaxed, through its recent fare amendment announcement, the Company’s focus will now be on making the transition smoother for its customers, besides beginning to perform better. Leanne Geraghty, the Air New Zealand Chief Customer and Sales Officer, is appreciative of the support received through customers in the times of COVID-19 and hopes that the Company would soon provide travel options to Kiwis across the world.

On 23 February 2021, Air New Zealand was trading up by 1.61% at NZ$1.58, at the time of writing this article.

Also read: Half Year results highlight for 4 NZX stocks-TCL, CNU, HGH, FRE

AMP Limited (NZX:AMP)

Despite several COVID-19-related challenges faced by AMP, the underlying NPAT earned by the Company in financial year 2020 was A$295M. Besides this, the capital position maintained at the end of the year was A$521M. Francesca de Ferrari, the Chief Executive at AMP, was of the view that because 2020 was such a tough year, the Company had stepped up in terms of helping in clients through the way of relief for their rents and mortgage payments. A$8.3billion net cash flow was recorded in the Financial year 2020 and the NPAT was recorded at A$110M. No dividend will be declared in FY20 to ensure a strong balance sheet. They plan to resume it in the following year depending upon the performance of the Company and the conditions of the market.

On 23 February 2021, AMP was trading flat at NZ$1.450, at the time of writing this article.

ArborGen Holdings Limited(NZX:ARB)

Dealing in Forestry Genetics, the Company has recently announced sales orders in the United States. In the earnings guidance released by the Company in January 2021, David Knott, the Chairman of the Company, was of the view that the past year had been difficult for the entire industry and there was still evolution taking place in the US market every day. The GAAP EBITDA2 for the US was revealed to be N$10M to N$11M for the financial year 2021.

On 23 February 2021, ArboGen was trading at NZ$0.187, up by 0.54%, at the time of writing this article.

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