Sector archive

Published briefings for one sector.

Browse recent results from companies in the same sector.

All briefings Consumer Healthcare Transport & Infrastructure Primary Industries Property Investment Companies Technology Construction & Materials

Search company archive

Open archive

Company archive

Sector archive

Clear filters

Showing 1-24 of 65 published briefings.

ArborGen Holdings (ARB)FY26Released 29 May 2026

Net debt/EBITDA hits 2.2x as EBITDA margin falls below historical range

Revenue grew 7.9% to a five-year high, but margin compression and rising leverage leave cash generation well below ArborGen's historical baseline.

Published 29 May 2026

Read briefing

New Zealand King Salmon Investments (NZK)HY26Released 26 May 2026

Profit swing to NZ$13.8m masks operating cash flow halving to NZ$7.3m

Pre-lease FCF turned negative at NZ$5.0m as capex rose and debtors built, even with biological performance lifting EBITDA to NZ$24.0m.

Published 26 May 2026

Read briefing

Sanford (SAN)HY26Released 14 May 2026

Record NPAT up 24.7% but operating cash collapsed 72.4%

A $28.5m inventory build and a $9.1m capex cut delivered the deleveraging story while draining nearly all of the earnings improvement from cash.

Published 14 May 2026

Read briefing

Synlait Milk (SML)HY26Released 23 March 2026

EBITDA margin hit an unprecedented -4.5% with FCF at -NZ$195.0m

Continuing-operations EBITDA swung to a NZ$34.7m loss while Synlait disposed of North Island assets and withdrew FY26 guidance.

Published 23 April 2026

Read briefing

Fonterra Co-operative Group (FCG)HY26Released 23 March 2026

FSF interim distribution jumps 82% to 40c on Fonterra Mainland special

Investment income rose 8.4% but most of the distribution and a $2.00 capital return reflect Fonterra's Mainland divestment, not recurring earnings.

Published 22 April 2026

Read briefing

Seeka (SEK)FY25Released 27 February 2026

PBT up 59.9% on margin expansion; NPAT growth of 264% flattered by tax

Post-harvest segment gross margin lifted from 26.6% to 37.9% drove the real operating gain, while a normalising tax rate amplifies the headline NPAT

Published 23 April 2026

Read briefing

T&G Global Limited and subsidiary companies (TGG)FY25Released 27 February 2026

Apple-led 14.5% revenue lift drives T&G to $61.8m free cash flow

PBT swung 420.6% to $21.9m on premium apple pricing, with a one-third capex cut and a 26.7% tax rate flattering the read.

Published 22 April 2026

Read briefing

Scales Corporation (SCL)FY25Released 25 February 2026

Bostock acquisition lifted revenue 54% but cash conversion fell to 56.4%

Working capital absorbed NZ$120.1m as inventory days tripled to 48.5, while a 13.0% tax rate amplified NPAT growth to 229.0% versus PBT 122.2%.

Published 23 April 2026

Read briefing

PGG Wrightson (PGW)HY26Released 24 February 2026

PBT up 11.5% but net debt jumped to $170.7m as cash outflow widened

Operating cash outflow worsened 60.8% and leverage stepped to 3.7x EBITDA, yet the board raised the interim dividend 80% to 4.5cps.

Published 20 April 2026

Read briefing

Livestock Improvement Corporation (LIC)HY26Released 22 January 2026

Revenue up 5.2% but PBT fell 13.5% as segment margins compressed sharply

Broad cost increases across NZ genetics, testing, and farm software compressed margins despite volume-led revenue growth, so the underlying earnings

Published 18 May 2026

Read briefing

ArborGen Holdings (ARB)HY26Released 26 November 2025

Pre-lease FCF fell to NZ$-7.2m as gross borrowings rose 61.9% to NZ$34.0m

A NZ$5.0m working-capital build ahead of the seasonally heavy 2H drove OCF from +NZ$2.1m to -NZ$5.4m and required NZ$13.0m of new borrowings.

Published 23 April 2026

Read briefing

Sanford (SAN)FY25Released 18 November 2025

PBT up 140.6% on flat revenue with gross borrowings cut to $105.0m

Operating recovery is real but NPAT growth of 223.4% is amplified by an effective tax rate that fell from 47.4% to 29.2%.

Published 29 April 2026

Read briefing

New Zealand King Salmon Investments (NZK)HY26Released 25 September 2025

NPAT swung to a $20.8m loss on a $31.2m biological asset write-down

Operating cash flow rose 21.2% to $19.6m, but volumes fell 17% and FY26 pro-forma EBITDA guidance of just $1-7m points to genuine operating pressure.

Published 23 April 2026

Read briefing

Scales Corporation (SCL)HY25Released 25 August 2025

Horticulture surge lifts EBITDA margin to 23.6%, above historical range

PBT grew 49.0% on operating leverage, but heavy first-half seasonal weighting and a softer tax rate are the key tests of durability.

Published 22 April 2026

Read briefing

PGG Wrightson (PGW)FY25Released 12 August 2025

EBITDA up 27% but operating cash fell 79% on working-capital build

The agri-sector earnings recovery is real at the operating line, but $23.8m of working-capital absorption pushed cash conversion to 22.1% and lifted

Published 20 April 2026

Read briefing

T&G Global Limited and subsidiary companies (TGG)HY25Released 8 August 2025

PBT swung to $2.3m profit on Apples-led 12.3% revenue growth

Operating cash flow turned positive and the apple segment doubled its result, but gross borrowings reclassified almost entirely to current.

Published 22 April 2026

Read briefing

Livestock Improvement Corporation (LIC)FY25Released 18 July 2025

LIC PBT up 192% to $40.3m as tax rate normalises from 43.9% to 23.9%

The operating recovery is real, but every reported segment showed a lower result and working capital built $37.6m against a 10.4% revenue lift.

Published 18 May 2026

Read briefing

ArborGen Holdings (ARB)FY25Released 30 May 2025

Adjusted EBITDA of $11.2m masked a $21.5m statutory loss

Operating cash flow fell 76.9% to $2.7m and free cash flow swung NZ$10.2m to -$5.1m, below the historical NZ$0.9m–$5.1m range.

Published 23 April 2026

Read briefing

New Zealand King Salmon Investments (NZK)FY25Released 27 March 2025

Revenue up 12.8% but NPAT fell 53% on biological-asset fair value swing

Headline NPAT fell on a $7.7m fair-value loss on biological assets versus a $15.8m prior gain, while operating cash flow nearly tripled to $38.5m.

Published 23 April 2026

Read briefing

Synlait Milk (SML)HY25Released 24 March 2025

Synlait swung to $7.5m PBT on 40.4% revenue jump and deleveraging to 6.2x

Operating cash flow stayed negative at -$12.0m and a tax credit lifted reported NPAT, leaving the durability of the turnaround as the open question.

Published 23 April 2026

Read briefing

Fonterra Co-operative Group (FCG)FY25Released 20 March 2025

HY25 interim NPAT up 8% to $729m, prior-period comparisons distorted

Operating profit up 16% to $1,107m on improved mix; headline declines reflect HY25 vs FY24 full-year basis, not underlying weakness.

Published 22 April 2026

Read briefing

Fonterra Co-operative Group (FCG)HY25Released 20 March 2025

FSF HY25: Entity restructure makes all headline earnings comparisons

The Fonterra Shareholders' Fund now reports only investment income of NZD 154m, making the prior-period profit figures structurally incomparable.

Published 22 April 2026

Read briefing

T&G Global Limited and subsidiary companies (TGG)FY24Released 3 March 2025

Apples-led recovery cut T&G's PBT loss 89%, but debtors ran 51.3 days

Headline earnings improved sharply, but receivables at 51.3 days versus a 28.8-day historical mean signal collection pressure absorbing the cash gain.

Published 22 April 2026

Read briefing

Seeka (SEK)FY24Released 27 February 2025

Seeka EBITDA surged 192.9% but tax distortion masked a PBT-to-NPAT gap

Revenue jumped 36.7% on a kiwifruit volume recovery, lifting PBT to NZ$29.7m from a NZ$21.0m loss, while a -70.5% effective tax rate widened the gap

Published 23 April 2026

Read briefing

Get reporting-season briefings

Get full NZX result briefings by email as new coverage is published.