Published briefings

Analytical briefings for NZX company announcements.

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Showing 481-504 of 622 published briefings.

Napier Port Holdings (NPH)FY22Released 16 November 2022

Revenue up 4.6% but PBT fell 13% as gross debt jumped 70% to fund capex

Container volumes dropped 7.9% and pre-lease free cash flow stayed negative at $39.0m, pushing net debt from $75.7m to $129.2m.

Published 22 April 2026

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Infratil (IFT)HY23Released 15 November 2022

PBT up 53% but Infratil swung from $424m net cash to $2.7bn net debt

Continuing operations grew cleanly, but operating cash flow deteriorated sharply and gross borrowings quadrupled as the portfolio rebuilt...

Published 21 April 2026

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Mainfreight (MFT)HY23Released 10 November 2022

Mainfreight HY23: PBT up 65.8% but net debt swings to NZ$748m

Revenue grew 32.1% and earnings outpaced it, yet gross borrowings more than quadrupled and cash conversion to NPAT weakened.

Published 21 April 2026

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Blis Technologies (BLT)HY23Released 10 November 2022

Revenue up 10.2% but losses barely narrow and annualised run-rate trails FY22

Operating 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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Oceania Healthcare (OCA)HY23Released 7 November 2022

OCA swings to $32.5m pre-tax loss as net debt jumps to $548m

Revenue grew 52% but earnings flipped into loss, operating cash halved, and capex-driven borrowing lifted leverage sharply.

Published 22 April 2026

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Henderson Far East Income (HFL)FY22Released 7 November 2022

HFL swings to £11.5m PBT as income jumps 23% but H2 capital losses gut NPAT

Revenue return and cash are materially stronger, yet HY22 NPAT of £29.7m collapsing to £8.0m full-year reveals a heavily loss-making second half...

Published 21 April 2026

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Scott Technology (SCT)FY22Released 18 October 2022

PBT up 24% but NPAT wiped out by $12.6m discontinued-operation loss

Continuing-operations earnings and margins improved, yet operating cash halved and working capital absorbed most of the gain.

Published 21 April 2026

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Hallenstein Glasson (HLG)FY22Released 30 September 2022

Flat revenue masks a 25.3% PBT fall and visible margin compression

Top-line held at NZ$351.2m but earnings rebased lower, with a 20% inventory build and no disclosed FY22 operating cash flow in the release.

Published 21 April 2026

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Briscoe Group (BGP)HY23Released 14 September 2022

NPAT fell 3.9% as gross margin gave back 86bps on 2.7% sales growth

Earnings slipped despite record sales, but lower capex lifted pre-lease free cash flow to NZ$39.4m and funded a higher dividend.

Published 21 April 2026

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Rua Bioscience (RUA)FY22Released 29 August 2022

Revenue collapsed 94.6% and NPAT loss widened to $8.6m on tax reversal

Operating cash burn accelerated to $6.8m while cash reserves fell to $1.9m, shortening the runway despite borrowings being cleared.

Published 22 April 2026

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Me Today (MEE)FY21Released 29 August 2022

Honey segment loss blew out to NZ$15.3m as PBT deficit widened 24%

Revenue rose 14.6% but the honey division's result deteriorated twelvefold, while operating cash burn widened to NZ$11.7m on 630 tonnes of stock.

Published 21 April 2026

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Enprise Group (ENS)FY22Released 29 August 2022

Revenue up 16% but PBT swung to a $2.4m loss as Kilimanjaro profit collapsed 85%

The core 94%-of-group division's result fell from $2.4m to $0.4m, operating cash flow turned negative, and borrowings rose from $0.05m to $0.9m.

Published 21 April 2026

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Vector (VCT)FY22Released 26 August 2022

Gas Trading swings to $29.7m loss and lifts net debt/EBITDA to 6.4x

Revenue grew 4.7% but Adjusted EBITDA slipped, PBT fell 7.0%, and a higher tax rate drove NPAT down 16.7% while capex outran operating cash flow.

Published 22 April 2026

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South Port New Zealand (SPN)FY22Released 25 August 2022

South Port FY22: NPAT up 19.7% but FCF swings to a NZ$9.7m deficit

Earnings growth was real, but capex more than doubled to NZ$23.4m and net debt tripled to NZ$24.2m, funding the step-up from the balance sheet.

Published 23 April 2026

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Channel Infrastructure NZ (CHI)HY22Released 25 August 2022

Refinery exit flatters NPAT to $17.2m as operating cash swings to $14.8m outflow

Continuing operations earned $5.6m after tax at a ~66% EBITDA margin, but the business funded conversion capex from its cash balance rather than...

Published 22 April 2026

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Sky Network Television (SKT)FY22Released 25 August 2022

Revenue back to growth at +3.5% but adjusted EBITDA fell and tax tailwind...

Dividend resumes at 7.3cps and cash quadrupled, but the 31.6% NPAT lift reflects a lower tax rate and a $14.0m property gain rather than an...

Published 21 April 2026

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Air New Zealand (AIR)FY22Released 25 August 2022

PBT loss widens 97% to $810m even as recapitalisation lifts cash to $1.8bn

Revenue rose 8.6% on cargo strength but cost pressure deepened the operating loss, while an equity raise transformed the balance sheet.

Published 21 April 2026

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Scales Corporation (SCL)HY22Released 24 August 2022

Revenue jumped 21.9% but Horticulture margin halved and NPAT fell 8%

Global Proteins now carries the group as Horticulture earnings collapsed, while a near-debt-free balance sheet offsets weak operating leverage.

Published 22 April 2026

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Spark New Zealand (SPK)FY22Released 24 August 2022

Spark FY22: NPAT up 6.8% but free cash flow fell 32% to $296m

Headline growth was delivered at the top of EBITDAI guidance, but higher capex, working capital build, and rising gross debt weakened cash quality.

Published 21 April 2026

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Heartland Group Holdings (HGH)FY22Released 23 August 2022

Record PBT up 15.6% but final dividend cut 21% as equity raise flagged

Loan book growth of 15.3% drove earnings, yet a bridge-debt-funded balance sheet, a 19bp NIM squeeze, and a higher tax rate are pulling capital...

Published 21 April 2026

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Marlin Global (MLN)FY22Released 22 August 2022

Portfolio revaluation swung MLN to a NZ$60.4m loss and a 27.1% equity drawdown

A listed investment vehicle's FY22 result reflects market-driven revaluation rather than operating deterioration, but the NAV base that funds...

Published 22 April 2026

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Barramundi (BRM)FY22Released 22 August 2022

BRM swings to a $34.6m FY22 loss as portfolio marks reverse a $52.3m FY21 gain

A second-half collapse drove the full-year loss while dividend income stayed modest and the final distribution was cut 19.5%.

Published 22 April 2026

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Property for Industry (PFI)HY22Released 22 August 2022

PFI NPAT fell 91% as HY21 revaluation gains didn't repeat, rents up 3.7%

Headline earnings collapse masks a stable rental business, but operating cash flow fell 34% and the effective tax rate jumped to 33.5%.

Published 21 April 2026

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Auckland International Airport (AIA)FY22Released 18 August 2022

Capex ramp to $260.0m drove pre-lease FCF to -$158.8m as leverage hit ~10x

Traffic-led revenue recovery of 6.8% is being reinvested rather than distributed, with no dividend and net debt up to $1.45b.

Published 21 April 2026

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