Healthcare products wholesaler and distributor Ebos Group shares were up 1.3 per cent to $38.50 after it lifted its annual profit by 9.3 per cent as the Covid outbreak continued to boost sales and 51 pharmacies joined its franchise network.
Smith said Ebos had reported a "very good result" and its acquisition of Life Healthcare had given its earnings a boost.
Net profit climbed to A$202.6m (NZ$225.9m) in the 12 months ended June 30, from A$185.3m a year earlier, the Melbourne-based company said in a statement.
Energy company Meridian Energy was down 2.9 per cent to $5.10 after it reported operating earnings of $709m and increased profits for the June year.
Smith said energy stocks have enjoyed a positive earnings season and Meridian's results were "solid". The company's net profit was $664m in the 12 months ended June 30, up 55 per cent from last year's $428m. Earnings before interest, tax, depreciation, amortisation and changes for financial instruments were $709m, or 2.5 per cent from the prior year's $692m.
Australasian steel and metal distributor Vulcan Steel was up 0.9 per cent to $9.17 after it revealed its full-year profit had increased by 91 per cent while its revenue rose 33 per cent to $972.7m, up from $731.5m a year earlier.
Residential property developer Winton reported its net profit was $31.7m in the 12 months ended June 30, down from $46.1m a year earlier when the residential property developer's settlements peaked. But the company still managed to beat its annual forecasts amid a choppy and uncertain housing environment and the shares were flat at $2.50 per share by the end of the day.
Logistics business Move Logistics was up 0.8 per cent to $1.34 after the company reported a loss of $3.1m for the year to June 2022, despite a 5 per cent increase in revenue to $349.1m, from $332.3m for the year before. Move Logistics also told shareholders it will pay about $15.2m for bulk liquid transporter Fluidex Transport, as a 'bolt-on' to the firm's contract logistics business.
Air NZ reports its full-year earnings tomorrow and Smith said it would be "interesting" to see what the company revealed considering its financial year had covered such a tumultuous period for the aviation industry. He said it could be a "messy" result and Air NZ was likely to focus more on its forward outlook. Air NZ was up 1.6 per cent to 67.5 cents by the end of the day.
Auckland International Airport which reported its earnings earlier in the week was up 0.4 per cent to $7.52. Sky City Entertainment was up 2.1 per cent to $2.96. The company has its results out tomorrow and may reveal how the casino operator has been managing since leaving the red traffic level settings.
Smith said the company would hopefully shed more light on the independent review of its Adelaide casino that was undertaken by South Australia's gaming regulator.
Heartland announced its $130m placement was fully subscribed this afternoon, after putting its shares in a trading halt yesterday when it also released its full-year results. The company told the NZX that the placement was "strongly supported" by existing institutional and retail shareholders and had also attracted significant bids from other institutional and retail investors. Heartland shares were down 10.9 per cent to $1.89 by the end of the day.
On the currency front, the NZ dollar was sitting at 61.88 US cents at 3pm today, down from 61.90 US cents yesterday.
- BusinessDesk
