Ebos Group was up 29c to $36.83 after confirming full-year operating earnings (ebitda) guidance of $575m-$600m at its annual meeting. Ebos started the 2025 financial year well with ebitda growth of 7.5%, adjusted to exclude the earnings from the Chemist Warehouse Australia contract, for the three months ending September.
Freightways increased 25c or 2.56% to $10 after reporting a 7.2% increase in revenue to $319.6m and a 4.1% rise in net profit to $19m for the first quarter.
The courier and information management company said: “We are yet to see any green shoots in the New Zealand economy but things have not worsened for us. We expect the first half to remain subdued and we are hopeful of a return to modest organic growth in the second half, aided by OCR [Official Cash Rate] drops and some sectors overlapping a soft previous corresponding period.”
Fletcher Building, up 5c to $3.18, reported materials and distribution volumes were down 10-15% in the first quarter of the 2025 financial year and revenue in September was 12% lower, compared with a fall of 7% in July and August.
Residential house sales averaged 17 per week in the first quarter, down from 23 in the same period last year. However, sales improved to 21 per week in September compared with 14 in each of July and August. The construction division performed solidly.
Fletcher said the fundamentals of the business remain sound, and “we are well positioned to deliver through the cycle as the market recovers”.
“The key downside risks are further deterioration in materials and distribution market volumes and/or lower-than-targeted house sales,” it said. “Gross margin pressure continued but margins in the construction division improved.”
Acting chair Barbara Chapman will step down from the Fletcher board on the new appointment, which is expected by the first quarter of next calendar year at the latest.
Michael Hill was up 2c or 3.64% to 57c after reporting a 4.3% increase in total sales for the first 14 weeks of the 2025 financial year. Australia was up 6.5%, Canada gained 5.7% and New Zealand was down 4.8%.
The jewellery retailer said at the meeting that “as we prepare for the all-important Christmas trading period, the positive momentum we have seen in the first 14 weeks is very encouraging. While New Zealand is still underperforming, we are seeing some green shoots in performance.”
Property for Industry, down 1c to $2.205, has set a dividend guidance for the 2025 financial year at 8.3c-8.5c, up 2.4% on the previous year.
Fisher and Paykel Healthcare was down 14c to $37.06; Auckland International Airport declined 17c or 2.3% to $7.23; Gentrack fell 35c or 3.31% to $10.24; Mainfreight shed $1.49 or 2.04% to $71.50; and Tower decreased 2.5c or 1.82% to $1.35.
Vulcan Steel fell 35c or 3.89% to $8.65 following its soft trading update; Goodman Property Trust was down 4c or 1.87% to $2.10; PGG Wrightson shed 5c or 2.81% to $1.73; KMD Brands declined 2.5c or 5.15% to 46c; and ikeGPS eased 2c or 3.39% to 57c.
Hallenstein Glasson gained 14c or 1.89% to $7.54; Tourism Holdings rose 16c or 8.25% to $2.10; Ventia Services was up 10c or 1.94% to $5.26; Smartpay rebounded 6c or 8.96% to 73c; South Port NZ collected 10c or 1.83% to $5.55; and NZ Rural Land improved 2c or 2.22% to 92c.
Millennium & Copthorne Hotels gained 4c or 2.27% to $1.80 after telling the market it is buying the Mayfair Hotel in Christchurch from Mayfair Luxury Hotels and the Stapley family interests. After an absence of more than 10 years, Millennium will once again have a presence in Christchurch.
Being AI was down 1c or 1.89% to 52c following the resignation of executive chair Sean Joyce, effective immediately. Being said the board will meet to elect or appoint a new chair in due course.
