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Highlights
- NZ may face delays in delivering key infrastructural projects due to issues related to the supply of construction materials.
- Kiwi Property Group’s GM to step down next month.
- Half-year results to be released by Metro Performance Glass on 22 November.
The Kiwi nation is facing issues related to its infrastructure sector in meeting the current demand for vital construction materials, which might result in the delay of some significant projects, cites The New Zealand Infrastructure Commission.
The construction materials mentioned above include steel, cement, timber as well as gravel and stone.
Though New Zealand boasts an enormous physical resource, over the period, the supply has been limited owing to environmental challenges, cost, logistics pressures and many more.
Hence, the country must make efforts for construction materials' better management so that they are available for critical infrastructure projects.
Having said that, this article covers the four popular NZX-listed infrastructure stocks worth looking at.
Image source: © 2021 Kalkine Media New Zealand Ltd, data source- EODHD/Others
Fletcher Building Limited (NZX:FBU; ASX:FBU)
Fletcher Building Limited is a major construction and infrastructure company operating on Kiwiland. In its Annual Meeting held last month, FBU shareholders passed resolutions for the re-election of its three directors.
Also, the Board has been empowered to determine the remuneration of FBU’s auditor.
At the time of writing, on 17 November, Fletcher Building fell by 0.29% at NZ$6.98.
Interesting Read: Why to consider 4 NZX infrastructure stocks before 2022?
Steel & Tube Holdings Limited (NZX:STU)
Steel & Tube Holdings Limited is well known for supplying steel solutions across the country. Bolstered by a solid operational performance, STU disclosed a 14% Y-O-Y increase in its revenue for the initial four months of the financial year.
Do Read: What are 5 small-cap NZX stocks examples?
As a result, it was successful in offsetting impacts of recent lockdowns.
It is pointed out that demand for steel remains high throughout the country, and STU has invested heavily in its high-demand steel products.
At the time of writing, on 17 November, Steel & Tube Holdings was trading at NZ$1.230.
Infratil Limited (NZX:IFT; ASX:IFT)
Infratil Limited owns significant infrastructure businesses in the growth sector of the country. On 15 November, the Company announced resetting its IFT bond rate at 3.14% per annum.
Though the changed rates will reflect in the Company’s trading system from 16 November, interest rate would be effective from 15 November 2021.
At the time of writing, on 17 November, Infratil fell by 0.24% at NZ$8.160.
Related Read: What does Infratil’s (NZX:IFT) investment activity reflect?
Metro Performance Glass Limited (NZX:MPG)
Another famous company operating in the infrastructure space is Metro Performance Glass Limited, which supplies world-class glass products. On 22 November, MPG would publish its half-year results ended 30 September 2021.
It would be followed by a briefing for investors and analysts.
At the time of writing on 17 November, Metro Performance Glass remained unchanged at NZ$0.410.
A Quick Read: Which are five popular capital goods stocks in New Zealand?
Bottom Line
Infrastructure companies are of critical importance to any nation. Hence, an uninterrupted supply of infrastructure resources is a must for the sector to flourish.