Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Stocks to watch: AIR, DGL, IFT, NZO, PBD, THL

Stocks to watch: AIR, DGL, IFT, NZO, PBD, THL

Aug. 25 (BusinessDesk) – The following stocks may be active on the New Zealand exchange after developments since the close of trading. All prices are in New Zealand dollars unless specified.

Themes of the day:
The retail trade survey for the June quarter will hog the local data spotlight today which the market will be sifting through for signs of improving consumer activity. The food price index figures for July are also due today.
Global equities rose as investors' risk appetite continued to climb ahead of the central bankers' summit at Jackson Hole on Friday, amid bets the Federal Reserve will unveil a further round of quantitative easing.

On Wall Street, the Standard & Poor's 500 Index rose 1.3% to 1,177.54, and Europe's Stoxx 600 closed 1.4% higher at 229.79. Gold tumbled, with the precious metal recently trading at US$1,749.89 an ounce, down from historic highs of US$1,900 earlier in the week, and yields on 10 year U.S. Treasury Bills rose to 2.28% from 2.11% previously.

Air New Zealand Ltd. (AIR): The national carrier posted a 45% decline in normalised earnings before taxation of $75 million for the 12 months ended June, with the earthquakes in Christchurch and Japan weighing on the airline's results. Net profit after tax pre abnormals fell 1% to $81 million compared to the previous year and operating revenue rose 7% to $4,341 million. AIR shares were unchanged yesterday at $1.10.

Delegat's Group Ltd. (DGL): The winemaker has reported an 18% increase in full year net profit of $32.7 million for the 12 months ended June 30, as record helped the company fend off the effect the strong New Zealand dollar has had on exports. Revenue rose 9% to $239 million in the period. DGL shares were unchanged yesterday at $2.

Infratil Ltd. (IFT): The infrastructure investment holding company's iSite Media subsidiary has bought billboard advertiser OTW Advertising in a deal reported to be worth less than $10million. The billboards will add to iSite's own national advertising portfolio which is centred on transit and billboard platforms. IFT shares were unchanged for $1.70.

New Zealand Oil & Gas Ltd. (NZO): The energy exploration and production company said it’s pressing ahead with plans to drill exploration wells offshore Taranaki, despite taking charges of $98.8 million for its investment in the failed Pike River Coal mine and reporting a net loss for the year to June 30 of $75.9 million. NZO shares were unchanged yesterday at 62 cents.

Pacific Brands Ltd. (PBD): The Australian clothing maker yesterday reported a full-year loss of A$131.5 million, with its cost savings initiative unable to reverse losses from weaker sales and one-time charges. The net loss for the 12 months ended June 30 compares to a profit of A$53.2 million in the previous year, mainly reflecting impairment charges of A$235.3. PBD shares were unchanged yesterday at 80 cents.

Tourism Holdings Ltd. (THL): The campervan rental company has reported a net loss $27.3 million for the 12 months ended June 30, down from a profit of $4.6 million in the previous year, with the company's earnings bearing the weight of the flooding in Queensland and the earthquakes in Christchurch. Operating earnings before interest and tax before goodwill impairments was $4.3 million, slightly ahead of its own forecast. THL shares rose 5% yesterday to 63 cents.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Stats NZ: Quarterly Inflation Rising Steadily Across The Board

Higher prices for transport and food have driven up inflation for the all households group in the June 2021 quarter, Stats NZ said today. The ‘all households group’ represents all private New Zealand-resident households... More>>

Stats NZ: Primary Products Push Exports To A New High

New Zealand exports reached a new high in June 2021, off the back of record export values for logs and beef, Stats NZ said today. In June 2021, the value of all goods exports rose... More>>

Energy: New Zealand Could Be World’s First Large-scale Producer Of Green Hydrogen

Contact Energy and Meridian Energy are seeking registrations of interest to develop the world’s largest green hydrogen plant. The plant has the potential to earn hundreds of millions in export revenue and help decarbonise economies both here and overseas... More>>

Statistics: Household Saving Falls In The March 2021 Quarter

Saving by New Zealanders in the March 2021 quarter fell to its lowest level in two years after rising sharply in 2020, Stats NZ said today. Increases in household spending outpaced income growth, leading to a decline in household saving from the elevated levels that prevailed throughout 2020... More>>