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Browse recent results from companies in the same sector.
Showing 25-48 of 75 published briefings.
Operating cash flow rose 30.8% and net debt fell, signalling a deliberate payout reset rather than a weak underlying result.
Published 23 April 2026
Read briefingHeadline rebound reflects recovery from an unusually weak HY24 rather than structural margin expansion at the port.
Published 23 April 2026
Read briefingRevenue rose 19.4% on post-Cyclone Gabrielle volume recovery, but an elevated 33.5% effective tax rate compresses the NPAT read versus PBT.
Published 23 April 2026
Read briefingUnderlying proportionate EBITDAF rose 7%, while operating cash conversion fell from 41.6% to 18.4% as capex stepped up 25.9%.
Published 22 April 2026
Read briefingEBITDA rose 6.4% but PBT fell 7.8%, debtors outpaced revenue by nearly 2x, and net debt swung to $88.4m from net cash.
Published 22 April 2026
Read briefingRevenue fell 14.5% and reported EBITDA collapsed 83% to $7.9m, with equity down 64% to $27.2m and gross borrowings now all current.
Published 23 April 2026
Read briefingNPAT stepped down off the FY23 reopening peak, but the cash squeeze leaves an 81.4% NPAT payout uncovered by free cash flow.
Published 22 April 2026
Read briefingA NZ$6.5m working-capital release and NZ$5.75m of additional borrowings funded a 27.0-cent dividend that swallowed almost all of a tax-distorted NPAT.
Published 23 April 2026
Read briefingContinuing operations softened and the effective tax rate jumped to 35.0%, even as EBITDA grew 10.5% on stronger jet fuel throughput.
Published 22 April 2026
Read briefingAn NPAT collapse to NZ$5.5m on a 98.4% effective tax rate masks the bigger story: leverage doubled to an unprecedented multiple on heavy capex.
Published 22 April 2026
Read briefingOperating deterioration is real, but ~$69m of abnormals doubled the headline NPAT decline to 51.1% as cash conversion fell from 89.0% to 70.0%.
Published 22 April 2026
Read briefingLog export and cruise volume recovery drove an unprecedented operating swing, while a step-up in the effective tax rate compressed the bottom line.
Published 23 April 2026
Read briefingHeadline growth reflects a transformed asset base and a zero effective tax rate, while operating profit weakened and leverage stepped up sharply.
Published 22 April 2026
Read briefingPBT rose 47.6% while NPAT rose 100.8% on a lower effective tax rate; the 12.0c payout reached 187.5% of NPAT, funded by free cash flow.
Published 22 April 2026
Read briefingFree cash flow rose to $18.2m only because capex collapsed 88.9% to $1.4m, while cash conversion dropped 20 percentage points to 77.6%.
Published 23 April 2026
Read briefingRevenue grew 11.2% but earnings normalised from the post-reopening peak as a 2.0cps dividend was declared against negative free cash.
Published 22 April 2026
Read briefingReinstated 6.75c dividend implies 83.9% NPAT payout that pre-lease cash flow cannot cover, leaving debt to fund both capex and the distribution.
Published 22 April 2026
Read briefingA flat dividend on shrinking earnings and a near-empty operating cash flow was funded by an NZ$8.0m rise in gross borrowings.
Published 23 April 2026
Read briefingContinuing-operations net parent surplus of NZ$1,215.1m and 45% Proportionate EBITDAF growth tell the real underlying story.
Published 22 April 2026
Read briefingReported NPAT fell 18.8%, but the disclosed underlying figure dropped from NZ$18.6m to NZ$10.7m while a capex pause flattered free cash flow.
Published 23 April 2026
Read briefingOperating deleverage halved profit growth, cash conversion dropped to 58.3% from 69.0%, and the unchanged 85c interim now absorbs 68.7% of NPAT.
Published 22 April 2026
Read briefingCash conversion lifted to 81.2% and net debt eased, but capex nearly quadrupled and the second-half loss reached $5.7m versus $1.5m at the half.
Published 23 April 2026
Read briefingOperating performance was steadier than headline NPAT suggests, but the maintained 27.0c dividend ran at 341.5% of free cash flow as net debt rose.
Published 23 April 2026
Read briefingPre-lease free cash flow of NZ$1.25b ran nine times the historical baseline as capex stepped up 84% to fund the next fleet and digital cycle.
Published 22 April 2026
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