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Showing 1-6 of 6 published briefings.
Revenue grew 14% and margins expanded, yet operating cash flow rose only 5.5%, raising questions about earnings quality into the second half.
Published 21 April 2026
Read briefingOperating leverage on 27.8% revenue growth combined with a $108.3m capex step-down to deliver a cash-flow inflection and a clear net-cash position.
Published 22 April 2026
Read briefingRevenue growth of 18.4% converted to a net cash balance sheet as capex normalised from $275.5m to $55.1m.
Published 22 April 2026
Read briefingRevenue momentum and a PBT recovery are offset by capex-led cash burn, doubled gross borrowings and a dividend no longer covered by free cash flow.
Published 22 April 2026
Read briefingA 14% H2 revenue rebound partially masks a post-COVID reset in hospital hardware, a working-capital build, and capex that lifted to 13.4% of revenue.
Published 21 April 2026
Read briefingHospital revenue normalised, inventory days nearly doubled, operating cash fell to NZ$1.9m, yet the interim dividend still edged up.
Published 21 April 2026
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