Published briefings

Analytical briefings for NZX company announcements.

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Showing 433-456 of 622 published briefings.

Michael Hill International (MHJ)HY23Released 27 February 2023

Revenue up 11.1% but operating cash fell 33% as inventory built

Top-line momentum and a higher dividend sit against sharply weaker cash conversion, Canadian margin compression, and a higher tax rate squeezing...

Published 21 April 2026

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Channel Infrastructure NZ (CHI)FY22Released 24 February 2023

Channel's terminal debut: first profit in three years, but FCF swung to -$73.3m

Transition to an import terminal delivered continuing-ops profit and a 7c dividend, yet operating cash turned negative and leverage stepped up to...

Published 22 April 2026

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Summerset Group Holdings (SUM)FY22Released 24 February 2023

NPAT halves to $269.1m as revaluation tailwind fades, underlying profit up 21.5%

Revenue and cash trading strengthened, but reported earnings now lean heavily on the fair-value line while gross borrowings jumped 42%.

Published 21 April 2026

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Scales Corporation (SCL)FY22Released 23 February 2023

H2 NPAT turned negative despite 20% revenue growth as China lockdowns hit

Attributable NPAT fell 27.9% to $19.4m and the final-instalment dividend was cut to 3.5c from 9.5c, even as the group moved to $24.7m net cash.

Published 22 April 2026

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Precinct Properties (PCT)HY23Released 23 February 2023

Precinct HY23: revenue up 13.7% but PBT collapsed 94.6% on a revaluation squeeze

Rent growth and flexible-space scale lifted operating cash, yet property fair-value movements and a capex surge pushed NPAT into a loss and...

Published 22 April 2026

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Air New Zealand (AIR)HY23Released 23 February 2023

Air New Zealand swings to $299m PBT with $2.16b cash pile on demand rebound

HY23 revenue nearly tripled to $3.1b and the group moved from $1.6b net debt to a $419m net cash position, but the comparison is against a...

Published 22 April 2026

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Sky Network Television (SKT)HY23Released 23 February 2023

Revenue up 1.9% but pre-lease FCF collapsed 72% as capex doubled

Dividend resumed and buyback announced even as operating cash fell 25% and NPAT slipped, leaving earnings quality the central question.

Published 21 April 2026

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Seeka (SEK)FY22Released 23 February 2023

Seeka FY22: H2 swung to EBITDA loss, PBT down 68%, leverage up to 3.2x

Revenue grew 12.5% but kiwifruit yield and labour pressures drove a negative second half, negative free cash flow and a jump in net debt to NZD...

Published 21 April 2026

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Auckland International Airport (AIA)HY23Released 23 February 2023

EBITDAFI tripled to NZ$189.0m but PBT swung to a NZ$1.5m loss

Operating recovery is genuine and broad-based, but capex still outruns cash and the NPAT collapse is flattered by a prior-year fair-value tailwind.

Published 21 April 2026

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The Colonial Motor Company (CMO)HY23Released 22 February 2023

CMO HY23: NPAT down 21% as operating cash outflow widens to NZ$50.7m

Trading profit is still the second-highest on record, but a 16% inventory build drove a 34x deterioration in operating cash flow versus HY22.

Published 22 April 2026

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Spark New Zealand (SPK)HY23Released 22 February 2023

Reported NPAT up 368% but adjusted EBITDAI declined and cash conversion halved

One-off technology proceeds and a tax swing flatter the headline while core operations show margin pressure and weaker cash generation.

Published 22 April 2026

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Vector (VCT)HY23Released 21 February 2023

Continuing-ops profit fell 41% but a $32.0m disposal gain cushioned the NPAT...

Adjusted EBITDA ticked up 3.9% on a narrower, more regulated revenue base, yet PBT fell 34.8% and net debt/EBITDA held at 11.7x.

Published 22 April 2026

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Mercury NZ (MCY)HY23Released 21 February 2023

EBITDAF jumped 86% to $451m but NPAT fell 46% as HY22 below-the-line gains...

Operating earnings and cash conversion strengthened sharply, yet the reported profit line reversed on a normalised tax rate and a prior-period...

Published 22 April 2026

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Property for Industry (PFI)FY22Released 20 February 2023

Fair value reversal flipped NZ$452.8m profit into NZ$13.9m loss as rents...

Rental income and pre-lease free cash flow held firm, but a NZ$56.7m property revaluation loss swamped the result and nudged leverage higher.

Published 21 April 2026

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Marlin Global (MLN)HY23Released 17 February 2023

Portfolio revaluation flips MLN to a NZ$11.6m HY23 loss

Reported revenue swung to negative NZ$9.4m as portfolio marks turned against the fund, yet operating cash inflows and dividend income held up.

Published 22 April 2026

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Barramundi (BRM)HY23Released 17 February 2023

Barramundi investment income down 12%, NPAT down 18% as tax drag doubles

Operating cash flow swings $29.7m positive, but the equity base shrank $47.8m and the interim dividend was cut 19%.

Published 22 April 2026

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Skellerup Holdings (SKL)HY23Released 16 February 2023

Revenue up 10% but PBT flat and net debt jumps $13.4m on inventory build

Skellerup's record EBIT headline is offset by a $19.5m inventory lift, higher capex, and a dividend that now exceeds pre-lease free cash flow.

Published 21 April 2026

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CDL Investments New Zealand (CDI)FY22Released 16 February 2023

Revenue down 27% but NPAT held flat as H2 sales softened sharply

FY22 NPAT of NZ$31.2m matched FY21 on much lower revenue, but the H1/H2 split shows a second-half slowdown into a "very different" FY23.

Published 21 April 2026

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Fletcher Building (FBU)HY23Released 15 February 2023

NPAT fell 46% and operating cash flow swung to a NZ$203m outflow

Underlying EBIT rose 8% on 5.4% revenue growth, but NZ$154m of significant items and a working-capital reversal nearly tripled net debt.

Published 21 April 2026

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Contact Energy (CEN)HY23Released 13 February 2023

EBITDAF down 61% and NPAT swung to a NZ$7m loss as leverage jumped to 9.8x

A maintained 14cps interim dividend and NZ$272m capex sit awkwardly against collapsing earnings, rising borrowings and a 31% fall in operating cash.

Published 21 April 2026

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South Port New Zealand (SPN)HY23Released 9 February 2023

Revenue up 6.8% but PBT fell 13.6% as net debt climbed 44%

Top-line growth and higher operating cash did not prevent margin compression, and gross borrowings rose NZ$10.5m to NZ$35.5m against a flat dividend.

Published 23 April 2026

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Australian Foundation Investment Company (AFI)HY23Released 23 January 2023

AFI income up 12.6% while portfolio equity drops 7.8% from FY22

Dividend income and operating cash grew double digits, but the investment portfolio's mark-to-market erosion reshaped the balance sheet.

Published 22 April 2026

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Chorus (CNU)HY23Released 15 December 2022

HY23 swung to a $5m pre-tax loss as revenue and EBITDA roughly halved

Cash conversion held up but capex outran operating cash flow, the interim dividend was cut 10.7%, and leverage on EBITDA jumped to 11.9x.

Published 22 April 2026

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Templeton Emerging Markets Investment Trust Plc (TEM)HY23Released 9 December 2022

Income up 72% but net assets fell 21% on capital losses

Stronger portfolio dividend receipts and a swing to net cash sit alongside a NZD 223.1m capital-return loss that drove equity sharply lower.

Published 22 April 2026

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