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Showing 1-7 of 7 published briefings.
Reported earnings accelerated sharply, yet a $1.1m inventory build absorbed almost all the operating cash the P&L implied.
Published 21 April 2026
Read briefingA clean earnings step-up delivered mostly in the second half, with cash conversion strengthening and no debt on the balance sheet.
Published 21 April 2026
Read briefingHY25 PBT turned positive by NZ$0.9m versus HY24, yet cash conversion remained near zero and the closing cash balance fell NZ$0.4m year on year.
Published 21 April 2026
Read briefingA HY24 loss of $0.7m flipped to an implied H2 profit of $1.3m, lifting NPAT and OCF but leaving durability of the second-half step-up unproven.
Published 21 April 2026
Read briefingOperating cash inflow collapsed to NZ$0.006m as receivable days jumped 16, leaving the net-cash balance sheet materially thinner despite a better P&L.
Published 21 April 2026
Read briefingA second-half swing to a small NPAT profit validates the B2B strategy shift, but the cash base shrank by $4.2m despite near-breakeven operating...
Published 21 April 2026
Read briefingOperating cash turned positive, but the swing was driven by a sharp working-capital release rather than earnings improvement.
Published 21 April 2026
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