Underlying EBITDA of NZ$181.6m met May guidance, while reported EBITDA was NZ$120.5m, NPAT fell to NZ$18.2m, and disclosed net debt ended at NZ$590.7m.

Published 26 August 2026

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The a2 Milk Company (ATM)FY26Released 17 August 2026

Cash conversion slid to 46.8% as inventory days nearly doubled to 53.7

Revenue and PBT grew but a $148.5m working-capital build and a discontinued-operation loss pulled NPAT down 44.0%.

Published 19 August 2026

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The Colonial Motor Company (CMO)FY26Released 14 August 2026

Revenue rose 7.1% but flat PBT masks margin compression and rising debt

A NZ$94.5m working-capital release freed cash, yet gross borrowings rose 33.4% and PBT margin fell to 2.6%.

Published 19 August 2026

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Millennium & Copthorne Hotels New Zealand (MCK)HY26Released 11 August 2026

PBT up 58.4% as cash conversion reaches 68.6%, above its historical range

Hotel-driven profit growth is genuine, but elevated cash conversion needs scrutiny given the historical range and a sharp capex decline.

Published 20 August 2026

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AFC Group Holdings (AFC)FY26Released 30 June 2026

AFC revenue fell 78.3%, pushing NPAT margin to an unprecedented -310%

Cash burn deepened and equity fell to NZ$0.2m as revenue shrank 78.3%, raising going-concern concerns noted in the filing.

Published 19 August 2026

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Burger Fuel Group (BFG)FY26Released 29 May 2026

EBITDA margin hit 18.4% — nearly 5 points above BFG's historical mean

A one-off store-sale gain and lower legal costs flattered all earnings lines, so the durability of record-high margins is the key question for FY27.

Published 29 May 2026

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Cooks Coffee Company (CCC)FY26Released 29 May 2026

Revenue up 83.7% but PBT and NPAT both fell 62.5% to NZ$0.3m

EBITDA stayed essentially flat at NZ$1.3m while cash dropped 58.2% to NZ$1.1m on debt repayment and elevated working-capital absorption.

Published 29 May 2026

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Savor (SVR)FY26Released 26 May 2026

Savor swung to $1.8m PBT with EBITDA margin at 14.5%

Operating margin moved above its 9.8%-14.2% five-year range as revenue softened and capex rose 69%, with PBT the cleaner read on the result.

Published 26 May 2026

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Turners Automotive Group (TRA)FY26Released 21 May 2026

Credit Management impairment of $7.5m masks core-segment growth at TRA

Reported NPAT slipped to $38.2m even as Auto Retail, Finance and Insurance segments all delivered higher profit results.

Published 22 May 2026

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My Food Bag Group (MFB)FY26Released 21 May 2026

Debtor days hit unprecedented 3.0 as receivables more than tripled

Working capital absorbed NZ$1.5m against a historical mean of NZ$-0.1m, yet net debt still fell NZ$5.1m on stronger free cash flow.

Published 21 May 2026

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KMD Brands (KMD)HY26Released 31 March 2026

Loss narrowed 43.5% but $65.3m raise signals balance-sheet stress

Operating cash fell 44.0% and net debt rose to $94.0m, prompting a fully underwritten equity raise alongside the headline earnings improvement.

Published 21 April 2026

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Hallenstein Glasson (HLG)HY26Released 27 March 2026

NPAT up 32.1% on 240bps margin lift led by Glassons Australia

Australia revenue rose 22.4% and segment result nearly doubled, lifting gross margin to 60.9% and pre-lease free cash flow to NZ$40.9m.

Published 21 April 2026

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Briscoe Group (BGP)FY26Released 11 March 2026

PBT fell 12.8% on 114bp gross margin squeeze; tax rate masked NPAT

Record sales hide a 114bp gross margin contraction, with the effective tax rate dropping from 36.2% to 28.6% to keep NPAT only 2.3% lower.

Published 21 April 2026

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Michael Hill International (MHJ)HY26Released 2 March 2026

NPAT up 32.0% and pre-lease FCF lifts to NZ$86.4m, above historical range

The HY26 result sits well above the recent baseline, but FY25's loss-making second half makes H2 durability the central open question.

Published 22 April 2026

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Delegat Group (DGL)HY26Released 27 February 2026

Delegat's profit growth outpaces revenue on lower finance costs

Earnings surged well ahead of sales growth, raising questions about how much reflects trading momentum.

Published 23 April 2026

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The Colonial Motor Company (CMO)HY26Released 26 February 2026

PBT up 35.4% with operating cash doubled to $42.9m on inventory release

A tax tailwind lifts headline NPAT to +55.1%, but a $29.6m inventory drawdown is doing much of the cash work.

Published 23 April 2026

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Me Today (MEE)HY26Released 26 February 2026

King Honey disposal flipped NPAT to NZ$3.2m while continuing revenue fell 31.7%

A NZ$4.1m discontinued-operation gain funded a balance-sheet reset, but continuing operations stayed loss-making on a sharply lower revenue base.

Published 21 April 2026

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Bremworth (BRW)FY26Released 25 February 2026

Revenue halved to NZ$44.7m as Bremworth swings to a NZ$6.4m loss

A 49.7% revenue collapse pushed PBT to -NZ$6.3m and cash to NZ$17.8m, while debtor days blew out 30 days above the historical average.

Published 22 April 2026

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Millennium & Copthorne Hotels New Zealand (MCK)FY25Released 24 February 2026

PBT fell 29.9% as hotels result halved and capex doubled to NZ$52.3m

Headline NPAT up 621.4% reflects tax normalisation; pre-lease FCF turned to -NZ$26.5m as cash halved and borrowings rose sevenfold.

Published 22 April 2026

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Tourism Holdings (THL)HY26Released 23 February 2026

NPAT up 17%, but deferred fleet capex and inventory destock flatter cash

Operating cash flow rose 67% as capex fell to 1.2% of revenue and inventory shed $78m, with management flagging ANZ fleet spend will normalise in H2.

Published 23 April 2026

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Comvita (CVT)HY26Released 23 February 2026

Comvita swung to $4.6m NPAT, but FCF leans on $52m inventory unwind

The operating turnaround is real, yet FCF-to-NPAT of 357.3% reflects working-capital release and a 76% capex cut rather than steady-state cash

Published 21 April 2026

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