Half-Year Assessment: How Did South Port & JP Morgan Perform?

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Interim Results are of prime importance for any company and its stakeholders. They reflect financial health as well as provide insights into its upcoming annual performance.

Source: Copyright © 2021 Kalkine Media Pty Ltd

With this backdrop, let us glance at the two renowned NZX stocks that have declared their half-yearly financial statements.

South Port New Zealand Limited

NZ’s southernmost commercial port, South Port New Zealand Limited (NZX:SPN) has released its strong half-yearly results ended 31 December 2020.

  • The Company recorded $6.1 million NPAT for H1 FY2021, up 33% on pcp. The total cargo flows were reported at 1,720k tonnes in the first half of the year, reflecting an increase of 2% on pcp.
  • Further, SPN declared a fully imputed interim dividend of 7.5 cps for the said period, which will be paid on 8 March 2021 to its shareholders.

Earnings Guidance:

According to South Port, its full-year earnings expectations lie between $10.00 million to $10.50 million as compared to $9.43 million for FY2020.

ALSO READ: Are These 3 NZX Port Operators – POT, NPH, SPN Flavour Of The Month?

On 8 March 2021, at the time of writing, SPN was trading flat at $8.400. 

JP Morgan Global Growth & Income Plc

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The investment trust company, with diversified portfolios of investment, JP Morgan Global Growth & Income Plc (NZX:JPG) announced its unaudited financials for the six months ended 31 December 2020.

  • Despite facing COVID-19 related challenges, the Company boasted +15.4% as total return on net assets and +17.1% as a total return to shareholders, including reinvested dividends for the said period. This can be attributed to the Group’s careful and intuitive selection of stocks by its Investment Managers.
  • The Company witnessed a rise in shareholder’s funds to £560.0 million from £478.8 million during the said period.
  • Further, JPG plans to issue 15-year unsecured notes amounting to £20 million at an annualised coupon of 2.36% on 12 March 2021, thus, taking the Group’s total notes to £50 million.
  • Also, the Company has announced 381.9 per share in pence as unaudited NAV, including income with debt at fair value.
  • Nigel Wightman, Chairman, JP Morgan Global Growth & Income Plc, has announced his retirement w.e.f. October 2021. Following this, Tristan Hillgarth will be appointed as the new Chairman. Also, James Macpherson has been appointed to the Board w.e.f. 1 April 2021.

ALSO READ: JPMorgan Global Growth (NZX:JPG) Declares Dividend To Be Paid In April

On 8 March 2021, at the time of writing, JPG traded flat at $7.800. 

 

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