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Published briefings

NZX result briefings.

The latest published company result briefings, with company and sector filters when you need a narrower view.

AFC Group Holdings (AFC)FY21Released 28 May 2021

Cash fell 98.5% to NZ$3K as revenue halved on COVID-19

A narrower headline loss is overshadowed by near-empty cash, operating cash burn tripling, and equity down 36.1%.

Published 23 April 2026

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Savor (SVR)FY21Released 28 May 2021

Cash conversion collapsed to 0.7% as brewery exit drove FCF to -NZ$1.3m

Continuing-operations PBT improved 23.6% but operating cash fell 99.5% and FCF pre-lease turned negative despite a NZ$3.1m working-capital release.

Published 22 April 2026

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Kingfish (KFL)FY21Released 27 May 2021

Portfolio returned 41.1%, beating benchmark by 12.9 points

NTA per share hit a fresh high of $1.77, but recurring investment income fell 10.9% and covered only 25.4% of distributions paid.

Published 22 April 2026

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Tower (TWR)HY21Released 26 May 2021

Combined ratio rose 4.9pp to 90.3% as large events drove underwriting lower

Underwriting profit fell to $16.2m from $22.9m, yet Tower restarted dividends on a 309% solvency margin.

Published 23 April 2026

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Napier Port Holdings (NPH)HY21Released 25 May 2021

Capex nearly doubled to NZ$45.8m as PBT fell 30.5% on flat revenue

Pre-lease free cash flow swung to -NZ$31.2m and cash fell 83.5% to NZ$2.7m, funded by NZ$34.7m of new borrowings.

Published 22 April 2026

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Turners Automotive Group (TRA)FY20Released 25 May 2021

Turners PBT up 28.5% on 10.7% revenue decline as assets nearly doubled

Margin expansion across three of four segments lifted earnings, but borrowings rose 94.3% and cash fell 63.8% as inventory more than doubled.

Published 22 April 2026

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Serko (SKO)FY21Released 19 May 2021

Revenue fell 52% as Serko's pandemic losses widened to a $29.0m PBT loss

Booking volumes crashed and cash burn accelerated even as management pointed to a late-year recovery in travel demand.

Published 23 April 2026

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Argosy Property (ARG)FY21Released 19 May 2021

NPAT more than doubled to $241.7m on portfolio revaluations

Rental revenue rose 6.9% and operating cash flow climbed 47.9%, but the profit jump reflects valuation gains rather than rental growth.

Published 22 April 2026

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Infratil (IFT)FY21Released 19 May 2021

PBT fell 117.6% into loss as FY20 one-off gains reversed

Revenue's n/m jump reflects portfolio change, while pre-lease free cash flow of -NZ$368.4m signals real cash pressure.

Published 22 April 2026

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Synlait Milk (SML)HY21Released 29 March 2021

Revenue +18.8% on Dairyworks but PBT -77.0% as infant formula slid 16%

Headline growth reflects the Dairyworks acquisition while infant formula volumes fell 16% and inventory days reached 111.4, above the historical

Published 23 April 2026

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Vista Group International (VGL)FY20Released 1 March 2021

Revenue fell 39.4% with receivables doubling and H2 cash burn negative

The $67.1m cash balance reflects new borrowings rather than operating strength, with $13m of credit loss provisions absorbed in EBITDA.

Published 23 April 2026

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AoFrio (AOF)FY20Released 26 February 2021

Revenue fell 40.2% on COVID, swinging PBT to a NZ$2.0m loss

Both Motors and IoT segments turned negative, though a working-capital release lifted cash to NZ$4.6m despite the earnings reversal.

Published 23 April 2026

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Millennium & Copthorne Hotels New Zealand (MCK)FY20Released 17 February 2021

Hotel PBT collapsed 94% as CDL and a 10.6% tax rate held group NPAT at -7.4%

Revenue fell 25.1% and PBT fell 40.4%, but reported NPAT looks resilient because non-hotel segments and an unusually low tax rate carried the result.

Published 22 April 2026

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Savor (SVR)HY21Released 27 November 2020

Revenue down 45%; $8m working-capital release flatters cash

An issuer transition and prior-period acquisition leave the HY20 comparison non-comparable, while the working-capital release reflects contraction

Published 22 April 2026

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Kiwi Property Group (KPG)HY21Released 23 November 2020

Debtor days hit 36 days — nearly triple the historical norm of 13.7 days

Trade receivables tripled to NZ$22.2m against a revenue decline, signalling rent-collection stress that the headline PBT recovery does not resolve.

Published 22 April 2026

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Wellington Drive Technologies (AOF)HY20Released 27 August 2020

Revenue fell 38.5% and NPAT swung to a $0.8m loss in H1 2020

A $4.8m equity uplift lifted total equity 64% but operating cash fell, the business swung from net cash to net debt, and both segments lost money.

Published 22 April 2026

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AoFrio (AOF)FY19Released 28 February 2020

Wellington's maiden NZ$0.4m profit on IoT mix and 71% EBITDA lift

EBITDA margin doubled to 6.8% as IoT revenue rose 31.6%, but a NZ$7.6m working-capital release flatters the cash result and merits a durability check.

Published 22 April 2026

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Vista Group International (VGL)FY19Released 27 February 2020

Revenue up 10.5% but FCF swung to -$1.2m on capex and debtor build

Operating cash fell 43.8% as receivable days stretched to 142 and capex hit 11.6% of revenue, reversing prior strong cash generation.

Published 23 April 2026

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