NZ stocks: Results in full swing

By ELLEN READ

The sharemarket will have plenty to digest this week, with the company results season in full swing.

Courier firm Freightways kicks things off with its annual result this morning.

In February, the company posted a maiden after-tax profit of $8.5 million for the December half-year.

The company signalled a bottom-line annual profit of $12.8 million in its prospectus but some sharebrokers expect the strong economy during the period to boost the number.

Freightways' shares were sold to the public at $1.60 last August and last traded at $2.57.

The week's largest corporate news is on Wednesday, when Fletcher Building's annual profit is unveiled.

With building consents at 30-year highs, the number is likely to please.

Fletcher Building made a net profit of $168 million in the previous financial year, up 81 per cent from 2002.

Also on Wednesday comes the annual result of debt collector Baycorp Advantage.

Fisher and Paykel Healthcare's annual meeting on Thursday will bring out the Shareholders' Association, which has targeted the company's employee share option scheme.

Meanwhile, the stock exchange itself says it will unveil tomorrow "a new way of investing".