NZ stocks: Travel boom to boost AIA

By PAUL PANCKHURST


Corporates serve up a feast of new information this week as the financial reporting season rolls on.

So far, results have been strong.

Those now in the spotlight include Air New Zealand, Auckland International Airport (AIA), SkyCity Entertainment, Sky Network Television and Wrightson.

Air New Zealand's half-year result on Thursday will come seven days after Qantas beat analysts' forecasts, reporting a record $402 million first-half bottom-line profit.

Analysts are picking a 12 per cent rise in first-half profit for Auckland International Airport after record traveller numbers, according to the Bloomberg news service.

The median estimate of five analysts was $44.5 million, versus $39.7 million in the year-ago half.

The extra travellers boosted revenue for the company from retailers, car parks and departure fees.

The company's earnings are out today.

SkyCity Entertainment reports on Friday after grabbing attention with the purchase of the Darwin casino and efforts to buy into the Christchurch casino.

Sky Network Television's half-year result is the first since the pay-TV company last August announced a maiden annual profit.

In October, the company reaffirmed earnings guidance of a bottom-line profit of $28 million to $35 million for this financial year.

Investors in rural services group Wrightson will tomorrow get the detail of the bad news flagged by the company last November.

At that time, chairman John Palmer said the group's earnings before interest and tax for the six months to December 31 were expected to be down 20 per cent on the year-ago period.

He said: "Areas of our business that are coming under particular pressure are rural supplies and livestock.

"Our rural supplies business is being impacted by a combination of the contraction in rural spending, pressure on margins, and business performance issues."

Port of Tauranga is due to report on Wednesday and Baycorp Advantage is also expected to report this week.