Fletcher Building and retailers Michael Hill and Hallenstein Glasson Holdings could show signs of a consumption crunch this NZ earnings season. Here's the stocks investors will be watching this month & why.
It’s showtime for investors and big companies reporting financial results, and several major firms published results today.
Healthcare, medical and pharmaceutical company Ebos Group has kept delivering for shareholders with a 25 per cent increase in its bottom line, despite losing a $2 billion supply contract with ChemistWarehouse.
The New Zealand and Australian listed company made A$253.3 million ($273.5m) net profit for the year ended June 30, while underlying net profit - Ebos’ preferred measure - was up 23 per cent to A$281.8m.
Revenue lifted 14 per cent to A$12.2 billion ($13.2b).
Underlying earnings were up 33 per cent to A$582m ($628m) with growth in its healthcare and animal care divisions after acquisitions such as Superior Pet Food, and investing in a pet food manufacturing facility.
SkyCity Entertainment Group has entered a major turnaround phase, having pushed up revenue from last year’s $639m to $926.2m for the year to June 30 and ebit from $96m to $165.9m.
Last year’s $33.6m net loss after tax was converted into the $8m profit, resulting in dividend restoration from no payout last year to 12cps this year.
Gaming machine revenue of $231m rose an incredible 50 per cent, yet was still 11 per cent behind 2019′s figure, which the company said highlighted the softer recovery.
For the year ended June 30, SkyCity normalised group ebitda was $310.3 million.
The company said its New Zealand operations performed well with normalised ebitda of $291.9 million, which was up 127 per cent from the prior comparable period.
Precinct Properties pushed up revenue 9 per cent, from $200m to $218m for the June 30, 2023 year.
PwC NZ's office space above the Commercial Bay shopping centre. Photo / Supplied
But the company booked a $153.1m net loss after tax due to a big property devaluation hit.
Properties valued up last year by $19.4m were this year written down in value by $257.1m as an unrealised loss, hitting that bottom line.
Precinct owns Commercial Bay, which includes Auckland’s PwC Centre. Its portfolio is valued at $3.4b, down on the previous $3.7b.
