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

Source: RomanR ,Shutterstock

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

Source: Copyright © 2021 Kalkine Media Pty Ltd

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. 




We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK