Mercury NZ Limited (NZX:MCY) performed well during the challenging times, here is the financial overview:
o NZD 494 million EBITDAF showed lower generation on and Metrix sale; strong underlying
portfolio performance across generation and customer markets.
o Net profit stood at NZD 207 million, which is less than FY2019 record.
o Underlying earnings up NZD 3 million, indicating the focus on customer value, portfolio management, and disciplined approach to costs.
o Declared Final ordinary dividend of 9.4 cents per share and total FY2020 ordinary dividend was 15.8 cents per share.
TIL Logistics Group Results In-Line with the Guidance
For the year ended 30 June 2020, TIL Logistics Group Limited (NZX:TLL) reported EBITDA (pre-NZ IFRS 16) of $26.5 million, in-line with the guidance of $25 million to $27 million. Net profit after tax stood at $6.0 million, up by 50% Y-o-Y.
Total sales stood at $333.8 million, with Q4 FY20 sales down by $17 million on pcp, due to o COVID-related restrictions. The company has decided not to pay any dividend for FY20, due to uncertainty caused by COVID-19.
Plunged Imports Led to Annual Trade Surplus
On 24 September 2020, Stats NZ divulged annual goods trade surplus of NZ $1.3 billion for August 2020, showcasing an increase in exports and a decrease in imports over the past couple of months.
A decline of ~NZ$1 billion in imports during August 2020 led to the major annual trade surplus since 2014.
Notably, declined imports indicated a fall in demand for crude oil, industrial transport equipment, passenger motor cars, and consumer goods, partly offset by an increase in diesel in August 2020.