Which are the 5 best performing NZX growth stocks?

Highlights

  • Growth stocks have the ability to grow at a higher potential than the market.
  • Growth investing helps investors in generating gains in lesser time.
  • Sky Network, Turners Automotive, Hallenstein are some of the stocks that have shown good growth in the past year.

Growth stocks are those stocks that are likely to grow their sales and earnings at a rate significantly above the average growth for the market. They are issued by firms that demonstrate a high potential for growth in the future.

5 NZX growth stocks and their market cap and 1-year returns

Image source: © 2021 Kalkine Media New Zealand Ltd, Data source- Refinitiv

Have a look at the five stocks which are best performing NZX-listed growth stocks.

Sky Network Television Limited (NZX: SKT ASX:SKT)

TV operator, Sky Network, posted a strong FY21 result partly due to operational improvements and partly due to one-off items. It secured a customer base of 955,168 with further stabilisation of worthwhile Sky Box base and a 57% increase in streaming.

Related Read: How are these 3 NZX communication stocks performing amid frequent internet outages?

The Group announced the completion of its share consolidation process of merging every 10 Sky shares held on 16 September into 1 share. The Group is securing more rights for its customers like Discovery, Foxtel, ESPN, etc., which matter to its customers.

SKT ended the day 3.9% in green to close at $2.13.

Turners Automotive Group Limited (NZX:TRA)

Automotive financial solution provider, Turners Automotive, reported that it had enhanced profit impetus and broadened competitive benefits. The Group is also gratified with its advancement towards its FY22 and FY24 targets.

The delta outbreak-induced lockdown in August will have a material impact on the business in the near term.

DO READ: 5 hot NZX technology stocks to explore in September 2021

The Group announced on 9 September that TRA100, an NZX-listed subordinated bond, will be delivered on its maturity date, 30 September 2021. 

TRA ended the day 0.22% in red to close at $4.5.

Skellerup Holdings Limited (NZX:SKL)

Skellerup Holdings, a distributor and manufacturer of polymer products and vacuum systems, reported a 11% increase on pcp in revenue to $279.5 million in FY21. NPAT and EBITDA numbers also saw a rise of 38% and 22%, respectively, on pcp.

ALSO READ: 5 NZX stocks with a healthy dividend yield

The Group recently acquired Talbot Technologies for $10 million. The Group will pay a final dividend of 10.5cps on 15 October.

SKL ended the day 0.91% in green to close at $5.52.

Hallenstein Glasson Holdings Limited (NZX:HLG)

Clothing retail firm, Hallenstein Holdings, had provided a trading update on 18 August. The Group noted in the update that it would continue to monitor the situation to lower any unfavourable impact on trading as NZ moved to the Level 4 Alert.

RELATED ARTICLE: Are the 5 NZX retail stocks benefitting amid the pandemic?

However, HLG declared that its online stores will continue to trade for essential items.

HLG ended the day 2.17% in green to close at $7.05.

CDL Investments New Zealand Limited (NZX:CDI)

Premium residential segment producer, CDL Investments, posted an impressive PAT of NZ$20.75 million for the half year ended 30 June 2021, showing positive vigour in the NZ property sector.

On 17 September, CDI and its subsidiary CDL Land New Zealand Limited were named defendants in a judicial review proceeding brought by Winton Property Investments Limited.

CDI ended the day 1.32% in green to close at $1.155.

Bottom Line

These stocks have high P/E ratios with robust business plans ahead. However, investing in these stocks can be equally risky as the expected growth can halt at any time in the future.

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

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