Why These 6 NZX Stocks Shined or Faded Today - ARV, WDT, AMP, MFB, CVT, NZL

The New Zealand stock exchange kicks off with many company news announcements and updates every day, which attract investors' attention and interest.

Prices of various equities are trending upward while several of them are seeing a price drop.

Let’s have a look at how these varied stocks performed on Tuesday.

Arvida Group Limited (NZX:ARV)

Arvida Group, a retirement village and aged care operator, reported a record net profit of $131.1 million, up 207% on the previous year in FY21. Total gross proceeds from new sale and resale unit settlements rose 13% to $227.4 million on the prior year.

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The group plans to give an unimputed dividend of 1.5cps for Q4 of FY21 on 10 June 2021. Arvida also hired Mark Wells as its Chief Financial Officer, effective 3 July 2021.

On 25 May, ARV ended the trading session at $1.83, up 1.1% from its previous close.

Wellington Drive Technologies Limited (NZX:WDT)

Wellington Drive experienced a strong Q1 of 2021. It posted $0.5 million in EBIT, which was in line with the group’s previous projections. It also noted a significant increase in its forward order status, as well as positive reaction for the first 2 of WDT's 4 new products that are set to begin in 2021.

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WDT expects revenue of US$41 million to US$46 million for 2021, up from its previous projection of US$40 million-US$43 million. In Q2 2021, the revenue is expected to be between US$12 million-$14 million.

WDT also appointed Greg Balla as its new CEO, who will start his role on 1 September 2021.

On 25 May, WDT ended the trading session at $0.09, up 9.76% from its previous close.

AMP Limited (NZX:AMP)

AMP recently announced that it would commence the buyback of its on-market shares of value up to AU$200 million. The acquisition of these shares is dependent on several factors such as volumes, market conditions, and other related factors.

AMP assisted 5,800 customers in purchasing a house and over 124,000 clients in retiring in 2020.

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On 25 May, AMP ended the trading session at $1.16, down 0.85% from its previous close.

My Food Bag Group Limited (NZX:MFB)

My Food Bag reported a 24% and 78% rise in revenue and EBITDA on pcp, reaching $190.7 million and $29 million, respectively, for FY21. The growth in FY21 was attributed to new product line and supply-chain optimisation.

The Group reaffirmed its FY22 forecast of $186.4 million as revenue, $34.2 million as EBITDA and $20.1 million as NPAT. The Group expects to declare and pay dividends twice yearly.

On 25 May, MFB ended the trading session at $1.5, up 10.29% from its previous close.

Comvita Limited (NZX:CVT)

Comvita recently created a Leader Share Purchase & Loan scheme to retain key employees and make loans available to qualified employees for procurement of ordinary shares in the Group.

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The Group issued a total of 368,012 shares and transferred 370K ordinary shares from treasury stock to its senior leadership. Comvita expects operating EBITDA to be in the range of $22.5 million-$25.5 million for the full year after the completion of Q3, up from the previous $20 million-$23 million.

On 25 May, CVT ended the trading session at $3.35, down 4.29% from its previous close.

New Zealand Rural Land Company Limited (NZX:NZL)

New Zealand Rural Land company announced a capital raising of $44.3 million through 2 or 3 pro-rata renounceable rights offer. The offer is to subscribe for two more shares at $1.10 per share for every three existing shares owned on the record date.

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As NZL intends to continue its expansion as a landowner in New Zealand's rural sector, revenues will be utilised to decrease debt and provide additional funds for acquisitions.

On 25 May, NZL ended the trading session at $1.12, down 4.27% from its previous close.

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



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