Fletcher Building bounce back in FY26
19.8.26 Fletcher Building is significantly more resilient than it was twelve months ago, said managing director and CEO Andrew Reding, with FY26 net earnings improving by $625 million on last year’s net loss to a net result of $228 million. EBIT from continuing operations before Significant Items of $414 million up $85 million on FY25. Net cash from operating activities of $715 million, was up from $501 million in FY25. Net debt of $637 million is reduced from $999 million in June 2025 “We...
Target intact but risks short-term – Turners
19.8.26 Turners Automotive’s annual meeting presentation today included an update on trading since 31 March 2026 and on the group’s outlook for FY27. The Middle East conflict has persisted, slowing New Zealand’s economic recovery and denting consumer confidence. “Higher fuel prices have materially reduced demand for diesel and larger petrol engine vehicles, resulting in trading conditions that are materially harder in 1H27 than in 1H26 and 1H25,” said CEO Todd Hunter. Turners repositioned...
New CEO appointed to NZX
The NZX [board has appointed Hishaam Mirza as NZX chief executive. He will begin the role on 14.9.26 and Graham Law will continue as acting Chief Executive until then. Mirza is a highly regarded financial services executive with a successful career in investments and corporate development. He has worked both in New Zealand and overseas with IBM, BP, Lazard, EDF Energy, and NZ Super. NZX chair John McMahon says the board had undertaken a global search for a new chief executive for the NZX Group...
Headliner NZX Market Report
The NZ sharemarket bounced back today and closed 144.20 points higher at 13,866.18, The best rise of the day came from a2 Milk which gained 78c to $8.54. There was continued speculation that a2 Milk and Fonterra would benefit from acquisition of Synlait Milk. ATM already has a minority stake in SML, which has told NZX that it has had no discussions with either Fonterra or a2. Mainfreight Ltd advised NZX and its shareholders that it has been required to provide its statutory share register to...
Mainfreight disappointed with FMA
18.8.26 Mainfreight Ltd advised NZX and its shareholders that it has been required to provide its statutory share register to Worthington Clark Pty Ltd, an Australian commercial asset-recovery business. Mainfreight opposed the request and referred it twice to the Financial Markets Authority (FMA) under section 224 of the Financial Markets Conduct Act 2013. Mainfreight raised concerns about the disclosure of its entire shareholder base. The FMA declined Mainfreight’s request to withhold the...
Mercury focus on renewable projects
18.8.20 Mercury NZ has delivered a strong FY26 performance in the June year, supported by higher hydro generation and new renewable generation which is a feature of the report. FY26 revenue declined 8% to $3.22 billion (FY25: $3.50 billion). Net profit showed a turnaround at $321.00 million (FY: $1m) The company reinvested 66% of its FY26 operating earnings (EBITDAF) - $710 million - in new and existing renewable generation assets. Operating cashflow of $762 million helped fund this investment...
Energetic year for Vector
18.8.26 Vector Group’s investment into the Auckland region’s electricity network exceeded half a billion dollars in the June 30 year, according to financial results for FY26. Vector group chief executive Chris Blenkiron said the business is performing well and this is shown in the latest results. "This year we've focused on disciplined execution across our key deliverables of customer outcomes, safety, and operational and financial performance. “That’s resulted in a set of strong financial...
Scott Tech secures new MHL contracts
18.8.26 Scott Technology, an export manufacturer of processing equipment, has secured a series of materials handling and logistics (MHL) contracts totalling approximately $20 million. The orders reflect continued momentum in the domain and further execution of the company's Destination 2030 growth strategy. The contracts span North America and Europe and include a major project with a leading North American frozen potato producer, alongside two extension projects with European customers in the...
Notes issue from WasteCo
18.8.26 WasteCo Group advised this morning that several third-party wholesale investors have agreed to subscribe for $700,000 in unsecured Convertible Notes in WasteCo. The new Notes mature on 14 August 2027. The holder has the flexibility to redeem the new Notes for cash, or to convert them to WasteCo shares at an effective conversion price of $0.05833 each by notice in writing to WasteCo prior to the Maturity Date. The annual interest rate is 8%, payable quarterly. In the event of a material...
Headliner NZX Market Report 17.8.26
The NZ sharemarket was centre of attention today as two major companies disappointed with their short term outlooks while a third company received the encouraging news that it has waited on for 7 years. The NZX50 dropped 132.40 at 13,721.98. In Australia the ASX All Ords shed 34.20 at 9,279.00. US markets were down across all bards: the Dow Jones falling 107.59 to 53,722.41, the S&P 500 off 213.23 at 7785.76 and Nasdaq down 73.89 at 26,729.12. The a2 Milk Company’s June year result...
