Education Sector Raises Job Numbers in August 2020 | NZ Market Update

Education Sector Raises Job Numbers in August 2020

As per the Stats NZ report, due to a rise in filled jobs in education and training, job numbers increased in August 2020.

COVID-19 restrictions impacted the first half of the school and academic year. As a new term and semester started without COVID restrictions, filled jobs grew across the education sector. Filled positions stood at 2.2 million in August 2020, up 9,147 as compared with July 2020. Despite this rise in numbers, it is still below March 2020 levels, the period before the COVID-19 induced restrictions began.

• PGG Wrightson’s Annual Result Reflects Resilience Of Business In The Year Of Two Distinct Halves

New Zealand’s renowned agricultural supply business, PGG Wrightson Limited (NZX:PGW) delivered an operating EBITDA of $45.2 million for the year ended 30 June 2020. NPAT was $7.8 million. Net debt position was $33.1 million as of 30 June 2020.

The second half trading results were impacted by COVID-19. However, the Company applied for, and received $4.1 million through the government wage subsidy scheme.

The Company’s Management opine that these results reflect well on the resilience of the business, people, and the support from customers and shareholders, in a year of two distinct halves.

PGG Wrightson believes that it is too early to provide guidance about expectations for FY21. However, there remains optimism with strong production returns continuing in dairy, red meat, and horticulture. The Company may provide a trading update in October 2020, at its Annual Shareholders' Meeting.

NEP attempts to acquire Sky's outside broadcasting assets

NEP Broadcast Services New Zealand Limited and Sky Network Television Limited, both provide outside broadcasting and production services in New Zealand, mainly related to sporting and entertainment events.

NEP has sent a clearance application to the Commerce Commission to acquire from Sky its outside broadcasting business, Outside Broadcasting Limited.

NEP is the world's most significant technical production firm that provides outside broadcast of live events in more than 80 countries. Sky is an NZ entertainment firm that broadcasts live sport and offers a variety of other entertainment content to consumers.

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