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Published briefings for one covered company.

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Showing 1-10 of 10 published briefings.

Tower (TWR)FY25Released 27 November 2025

Tower FY25 PBT up 14.7% but profit was first-half-weighted

Record reported NPAT of NZ$83.7m rests on low large-event costs and a softer H2, with cash conversion quietly easing.

Published 21 April 2026

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Tower (TWR)HY25Released 20 May 2025

Tower HY25 PBT jumps 46.8% on 9.8% revenue growth, but $12m of provisions...

Operating leverage and near-complete cash conversion drove a 167% dividend lift, yet over-cap claim provisions keep the underlying-to-reported gap...

Published 22 April 2026

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Tower (TWR)FY24Released 28 November 2024

Tower swings to $74.3m profit as PBT jumps 13x and OCF hits $145.2m

A clean rebound from FY23's weather-event drag, but total revenue fell 22% and the underlying-to-reported bridge is not fully disclosed.

Published 22 April 2026

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Tower (TWR)HY24Released 28 May 2024

Tower swings to $47.8m PBT as catastrophe claims normalise

HY24 profit, cash flow and segment margins all rebuilt off a weather-distorted HY23 base, leaving durability the central question.

Published 22 April 2026

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Tower (TWR)FY23Released 23 November 2023

Tower swings to NPAT loss as catastrophe costs crush PBT 70%

Revenue jumped 60% to NZ$725.2m on premium growth and reinsurance recoveries, but weather claims, a higher tax rate and a discontinued-operation...

Published 22 April 2026

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Tower (TWR)HY23Released 25 May 2023

PBT swung to a $8.3m loss on catastrophe costs even as underlying NPAT...

Reported earnings and cash conversion both deteriorated sharply, but management's preferred underlying measure moved the other way, leaving the...

Published 22 April 2026

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Tower (TWR)FY22Released 23 November 2022

PBT down 11.4% and operating cash down 39% despite 9.1% revenue growth

Flat NPAT masks a weaker underlying result, with a lower effective tax rate and a heavily second-half-weighted profit doing most of the lifting.

Published 22 April 2026

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Tower (TWR)HY22Released 26 May 2022

Large events cut reported NPAT 74.5% while underlying NPAT edged up 6.4%

Gross written premium grew 11.1% and guidance was held, but statutory earnings and cash conversion fell sharply, loading the FY22 target into the...

Published 22 April 2026

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Tower (TWR)FY21Released 24 November 2021

Tower FY21 NPAT up 57% but H2 profit fell to $7.2m as operating cash surged 5x

Headline growth flattered by a lower tax rate and a heavy first-half skew, while NZ$98.6m of operating cash funds a mooted capital return.

Published 22 April 2026

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Tower (TWR)HY21Released 26 May 2021

PBT down 18.6% on a 2.6% revenue decline, but operating cash 14x higher

Earnings softened and New Zealand margin halved, yet a strong cash swing funded Tower's first dividend in five years.

Published 22 April 2026

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