PBT up 25.7% on ARC scale, full-year dividend reset to 8.0c
Aged-care consolidation lifted earnings and revenue mix, but a halved dividend and weaker cash conversion signal a clear reinvestment pivot.
Published 29 May 2026
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Aged-care consolidation lifted earnings and revenue mix, but a halved dividend and weaker cash conversion signal a clear reinvestment pivot.
Published 29 May 2026
Read briefingOperating losses keep absorbing the balance sheet; total equity fell 84.5% to NZ$0.1m while the Pathoglaze licence still produces no revenue.
Published 29 May 2026
Read briefingA one-off store-sale gain and lower legal costs flattered all earnings lines, so the durability of record-high margins is the key question for FY27.
Published 29 May 2026
Read briefingRevenue 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 briefingA 140bps gross margin lift is real, but a $1.0m receivables build and ongoing $2.5m operating cash burn keep the runway question open.
Published 29 May 2026
Read briefingPlatform subscription revenue grew ~33% and gross margin expanded 1,099bps, but operating cash flow swung to NZ$-3.4m and inventory days jumped
Published 29 May 2026
Read briefingThe earnings step-up was concentrated in the smaller Medical services segment while operating cash flow grew only 3.7% and free cash flow fell.
Published 29 May 2026
Read briefingEBITDA stayed essentially flat at NZ$1.3m while cash dropped 58.2% to NZ$1.1m on debt repayment and elevated working-capital absorption.
Published 29 May 2026
Read briefingFull-year Cromwell consolidation and a sharp H2 earnings swing lift reported NPAT while net debt/EBITDAF falls from 11.1x to 5.8x.
Published 28 May 2026
Read briefingOperating margins compressed even as pre-lease free cash flow climbed to NZ$392.1m on capex restraint.
Published 28 May 2026
Read briefingOperating cash flow surged to $15.7m and net debt halved to $27.0m, but reported earnings stayed near breakeven.
Published 27 May 2026
Read briefingOperating margin moved above its 9.8%-14.2% five-year range as revenue softened and capex rose 69%, with PBT the cleaner read on the result.
Published 26 May 2026
Read briefingPre-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 briefingOperating momentum is real but Ryman remains loss-making at the PBT line, and the FCF swing is partly capex-driven rather than purely earnings-led.
Published 26 May 2026
Read briefingOperating cash flow rose to NZ$663.2m and cash built to NZ$461.1m, but capex hit 8.5% of revenue and FCF/NPAT fell to 95.3%.
Published 26 May 2026
Read briefingAn 8.4 percentage point benchmark gap drove a NZ$13.6m net loss and pulled NTA to NZ$1.20 while annual distributions slipped to 10.84cps.
Published 25 May 2026
Read briefingThe headline loss is non-cash but underlying EBITDA fell from $59.6m to $39.0m and free cash flow dropped to $0.1m as capex nearly doubled.
Published 25 May 2026
Read briefingOperating cash flow turned positive, yet $3.9m of Munroe Lane capex cut cash holdings by $4.0m and left NTA per share at $0.307.
Published 22 May 2026
Read briefingReported NPAT slipped to $38.2m even as Auto Retail, Finance and Insurance segments all delivered higher profit results.
Published 22 May 2026
Read briefingWorking capital absorbed NZ$1.5m against a historical mean of NZ$-0.1m, yet net debt still fell NZ$5.1m on stronger free cash flow.
Published 21 May 2026
Read briefingMargins remain in the historical normal range, so the comparison reflects an unusually strong HY25 rather than HY26 underperformance.
Published 21 May 2026
Read briefingA NZ$1.8m working-capital build—versus a historical average release of NZ$0.2m—consumed all reported profit and then some, turning free cash flow
Published 21 May 2026
Read briefingUnderlying earnings grew on container services, but capex intensity of 33.1% of revenue lifted net debt to $129.5m.
Published 20 May 2026
Read briefingOperating cash flow rose 14.2% but a 22.5% capex lift pushed pre-lease free cash flow to a five-year low.
Published 20 May 2026
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