RBNZ's Balance Sheet To Expand Further In Response to COVID-19 | NZ Market Update

In response to the ongoing pandemic, the Reserve Bank's balance sheet shall continue to grow as it backs the financial system and economy. Since January, the balance sheet has more than doubled to about NZD 60 billion. Assistant Governor Christian Hawkesby said that in a situation when the Official Cash Rate (OCR) is near its lower limits, the balance sheet's size and composition shall be a powerful tool for the monetary policy decisions. The pandemic has resulted in a clear and sizeable shock to the NZ economy.

For the 12 months ended 30 June 2020, Auckland International Airport Limited (NZX:AIA) reported a total number of passengers at 15.5 million, down by 26.5% from the previous year. International passenger numbers (including transits) stood at 8.5 million while domestic passenger numbers stood at 7 million. Operating EBITDAFI decreased by 53.1% to $260.4 million and reported profit after tax declined by 63% to $193.9 million. The company has also decided not to pay any dividend this year.

For the 12 months ended 30 June 2020, Ebos Group Limited (NZX:EBO) reported total revenue of $8.8 billion, up by 26.5%. Underlying EBITDA stood at $296.6 million, and Underlying NPAT stood at $168.3 million, up by 16.5%. As the company was engaged in providing essential healthcare and consumer products, it remained operational throughout the COVID-19 pandemic. This helped the company to report a good set of numbers. EBO has also decided to pay a final dividend of NZ 40.0 cps, taking total dividends declared for FY20 to NZ 77.5 cents.

#NZX #EBO #NewZealand #Kalkine



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