Why These 4 Stocks Are Keeping The NZX Abuzz - MCK, APL, FCT, HLG?

Summary

  • Millennium & Copthorne Hotels announces FY20 results and will not declare dividend for FY20 owing to COVID-19.
  • Asset Plus will expand its work premises to a strategic location.
  • Investment giant F & C Investment purchases 42,000 ordinary shares, thereby increasing it voting rights.
  • Hallenstein Glasson puts its operations on hold in NZ following the detection of new COVID-19 cases in the country.

Investors keep a track of companies in different sectors through their latest announcements and developments. These notifications are instrumental in paving way for the current and future of market trends.

Let us quickly go through the latest updates of the 4 NZX listed companies.

Millennium & Copthorne Hotels New Zealand

NZ-based hotel operator, Millennium & Copthorne Hotels New Zealand Limited (NZX:MCK), operates about 24 hotels across the country.

Results for FY20 were declared on 17 February 2021, which have been enumerated as follows:

  • MCK announced PAT of $46 million for FY20. However, the Company’s revenue went down from $229.7 million in FY19 to $172 million in FY20.
  • There has been a decrease to 29.05 cents in 2020 from 31.39 cents in 2019.
  • A reduction in total assets of $987.9 million as compared to $1008.2 million in the year 2019.
  • Due to the COVID-19 outbreak in 2020, the average hotel room occupancy was 39.2% given the lack of international tourists and lockdown across the country.
  • Wage Subsidy given by the NZ Government amounting to $9.5 million for the hotel operations, has been distributed to the employees.
  • Substantial renovations will be done at the Kingsgate Hotel Greymouth in 2021. As a result, a proportion of the property would be razed.
  • It has been decided by the Board that the Company would not announce the dividend for FY2020 despite making profit. On the contrary, it will be using the revenues for renovation and future investments in its business. Thus, it will make a room for capital reserves and the sustainability of financial resources.

On 17 February 2021, by the end of the trading session, MCK traded at $2.250, up by 3.69%.

Asset Plus Limited

Asset Plus Limited (NZX:APL) is a NZ-based commercial property investment company. The Company has announced that it had been given the permission to extend its office premises to 25,800sqm of GFA from the existing 12900sqm of GFA at 35 Graham Street, Auckland CBD. This new office space had been designed by the eminent architect Woods Bagot, whose famous works include the University of Adelaide and the Barr Smith Library.

Further, the Group has announced 0.56 cents per share of gross dividend for its shareholders for Q4 2020. Also, it has declared 0.05004 cents per share of supplementary dividend for its non-resident shareholders, which will be paid on 3 March 2021 to the shareholders.

On 17 February 2021, by the end of the trading session, APL traded at $0.355 with no change from its previous close.

F&C Investment Trust PLC

One of the top-rated investment companies, F&C Investment Trust PLC (NZX:FCT), is committed to increasing its investors’ earnings by investing in a heterogeneous portfolio of both listed and unlisted equities across the global markets.

FCT has acquired 42,000 ordinary shares worth 25 pence per share on LSE by means of JP Morgan Securities. It is keen to keep the purchased shares in its treasury. Further, with these proceedings, there has been an increase in the voting rights of FCT to 536,178,332.

On 17 February 2021, by the end of the trading session, FCT traded at $15.44, up by 0.59% on NZX.

Hallenstein Glasson Holdings Limited

Acknowledged as New Zealand’s major retailer, Hallenstein Glasson Holdings Limited (NZX:HLG) deals in menswear and womenswear.

The Group signaled that HLG had witnessed an increase of 13.6% in its revenue to $182 million for the half-yearly period ended on 1 February 2021. Its unaudited PAT is estimated to grow by 28%, amounting to near about $20 million as compared to the previous FY.

Also, due to the recent lockdown across NZ because of detection of new COVID 19 cases on 14 February 2021, the Company has put a hold on its operations in the country.

On 17 February 2021, by the end of the trading session, HLG traded at $7.550, down by 0.66%.

(NOTE: Currency is reported in NZ Dollar unless stated otherwise)

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