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Highlights
- NZ has a big, efficient, and varied transport sector.
- Move Logistics opened the retail entitlement offer as part of its aim to raise $40 million.
- South Port announced that Thomas Foggo would be elected to the SPN Board in 2023.
The transportation sector of a country plays a significant role in promoting jobs, social and cultural interactions and international trade and tourism.
New Zealand possesses a big and diverse transport sector that uses the latest technologies and a customer-centric strategy.
Let’s glance through the performance of these 5 NZX transportation stocks.
Image source: © 2021 Kalkine Media, Data source- EODHD/Others
Move Logistics Group Limited (NZX:MOV)
Move Logistics opened the retail entitlement offer of 1 for 3.06 pro rata accelerated renounceable entitlement offer of shares, to raise $40 million in new capital to fast-track its growth strategy.
The offer is fully underwritten by Craigs Investment Partners and Bell Potter Securities Limited.
On 4 November, at the time of writing, MOV was trading up by 1.18% at NZ$1.72.
Mainfreight Limited (NZX:MFT)
Mainfreight witnessed a good year in FY21. The volume of trade in all regions stayed higher than previous year.
GOOD READ: What is Mainfreight’s global supply chain status?
On 18 October, Craig Evans announced his intention to resign by the end of January 2022. The next person for the role will be hired from within the business and will be declared in due course.
On 4 November, at the time of writing, MFT was trading down by 0.78% at NZ$86.35.
Marsden Maritime Holdings Limited (NZX:MMH)
Marsden notified that Felix Ritcher, CEO of Marsden, has announced his resignation. Mr Ritcher plans to work until 21 January 2022, post which the Company will start its search for a new person.
RELATED READ: How are 3 NZX transport stocks faring in Q4 2021?
Mr Ritcher was happy with the Company’s progress in his 3 years tenure.
On 4 November, at the time of writing, MMH was trading flat at NZ$6.4.
South Port New Zealand Limited (NZX:SPN)
South Port NZ notified on 1 November that Thomas Foggo would be elected to the SPN Board in 2023. He has served as the Deputy Chairman and has also been the inaugural as well as present Chairman of SPN’s Health and Safety Committee.
Tommy has been a solid contributor to the Board and the Company.
On 4 November, at the time of writing, SPN was trading up by 0.67% at NZ$9.
Freightways Limited (NZX:FRE)
Freightways witnessed a solid growth in FY21 with revenue witnessing a 27% growth, crossing $800 million. The Group also witnessed improvement in margins with over 30% growth in EBITDA and NPAT.
RELATED READ: Freightways (NZX:FRE) acquires Kiwi-owned ProducePronto
FRE has pledged to lower carbon emissions across FRE’s network by 50% by 2035.
On 4 November, at the time of writing, FRE was trading down by 0.31% at NZ$12.82.
Bottom Line
It is yet to be seen how the transportation sector advances ahead amid supply chain challenges and COVID-19 lockdowns.
(NOTE: Currency is reported in NZ Dollar unless stated otherwise)