There was even better news for shareholders with the airline considering paying a dividend at the end of its financial year due to the company recovering faster than expected from its financial woes.
Air NZ edged down 1.2 per cent to 79.5 cents by early evening.
Auckland International Airport (AIA) said its earnings before interest, tax, depreciation, fair value adjustments and investment in associates (Ebitdafi) came to $189m for the period – up a tidy three-fold on the $60.3m a year earlier. AIA was up 2.9 per cent to $8.83 by early evening.
Robertshawe said Sky TV would be an interesting company to watch as the television network firm tries to keep a healthy balance sheet as it battles against huge streaming services like Netflix and Disney Plus.
Sky TV’s net profit fell to $26.2m, down from $28.3m in the previous corresponding period thanks to increased costs and the business being forced to pay Vodafone to keep its Vodafone TV service open longer than expected. Earnings before interest, tax, depreciation and amortisation (Ebitda) also fell by 14 per cent from $85m to $73.7m for the half-year, in line with last year when adjusted for one-offs. Sky TV was down 1.9 per cent to $2.56 by early evening.
Agribusiness Scales Corp jumped 5.4 per cent to $3.30 today after releasing its first-half results.
It was a story of two halves, Robertshawe said, and it would likely be another season before the company fully recovered from the severe weather events the agribusiness has encountered this year.
Scales said lockdowns in China had led to material reductions in market prices during critical sales windows, which impacted its horticulture division.
Kiwifruit specialist Seeka said its net profit after tax was $6.5m in the year to December 31, down a large 56 per cent on the year, with higher labour costs and lower yields impacting margins. Seeka rose 0.3 per cent to $3.11.
Tourism Holdings rose 2.7 per cent to $3.85 after its first-half earnings kicked up a gear thanks to NZ’s tourism sector roaring back to life.
The travel and tourism operator reported a statutory net profit of $25.2m in the 12 months ended December 31, an increase of $29.6m from the previous corresponding period’s loss.
Precinct Properties said it delivered a strong operational result in the first half of the financial year, which was driven by rental price uplift and demand for premium office space. Its operating income rose 12.7 per cent to $51.3m in the six months ended December 31 compared to the same period a year earlier. The stock was up 1.98 per cent to $1.285.
Mānuka honey wholesaler Comvita edged up 0.6 per cent to $3.38 after it saw a net profit of $4.2m in the six months to December 31, an increase of 19.4 per cent over the same period the year before.
Across the rest of the market, tech company Serko was up 4.4 per cent to $2.35, Move Logistics fell 3.9 per cent to $1 after it reported a net loss and decreased revenue in its first-half results. Rubber manufacturer Skellerup jumped 4.7 per cent to $5.08 and IT services firm Solution Dynamics fell 7.8 per cent to $2.14 after releasing the results from its first half financial period.
The NZ dollar was trading at 62.30 US cents at 3pm in Wellington today, barely moving from 62.34 cents yesterday.
- BusinessDesk
