Here are the key changes to know about in the New Zealand equity market today; Michael Hill, Scales, & Ryman

 Here are the key things you need to know about in the NZX markets over the past 24 hours. Changes are as at 3:00 pm and may change when the market closes at 4:45 pm.

WHAT THE NZX50 IS DOING
The NZX50 is essentially unchanged today. Over the month the index down -0.1%, compared to this time last year the NZX50 is currently up +8.1%.

THE MAIN GAINERS
There are 44 gainers on the mainboard today. The current leader is metal supplier Vulcan Steel (VSL, #28) up +5.3%. VSL's share price has been strong for the month currently up +9.7%. The Warehouse Group (WHS, #45) has the next biggest gain up +5.3% since the market opened, although the group still faces headwind as the share price has a -24% decline for the YTD, down -30% from this time last year. Scales Corp (SCL, #39) is next up +2.7% followed by Turners Automotive Group (TRA, #48) up 2.4%.

THE MAIN DECLINERS
There are 47 decliners today, the biggest from Fletcher Building down (FBU, #18) -2.6%. This is a direct reflection of the companies current financial struggles with their share price down -4.5% for the month, down -37% since the start of the year. NZ's largest energy generator Meridian (MEL, #2) has the next biggest decline today, down -1.8%, down -4.4% for the month. Compared to this time last year MEL is up +13.4%. 

THE KEY ANNOUNCEMENTS
Michael Hill International (MHJ) have released their full-year report today with a mixed bag of results. MHJ's revenue increased by +4.2% now $644.9 million. However the company had a net loss after tax of $479,000, down heavily from the previous full year where they had a NPAT of $35.2 million. Managing director and CEO Daniel Bracken commented on their results saying “While FY24 earnings were disappointing, with challenging economic conditions and inflationary pressures impacting consumers across all markets, the business continued to execute on its clearly articulated strategy, focus on retail fundamentals and drive topline sales." As a result of the increased crime here in New Zealand, the company lost $5 million directly from their earnings as MHJ upgraded security measures in order to protect their customers, teams, and stores.

Scales Corp (SCL, #39) confirmed the appointment of Nadine Tunley as Chief Risk Officer, effective on the 1st of September. SCL's Board determined that Nadine will be a senior manager of SCL, and as a result will stand down as a Director from the 31st of August. Tunley was the former Chief Executive of Horticulture New Zealand (Hort NZ).

Ryman Healthcare (RYM, #13) released a number of changes for their Fit for the Future programme. The changes were listed as

• Introducing new pricing and choice for new residents
• Moving towards a new structure to support our villages
• Reset of approach to new village developments
• Further accounting charges to increase transparency and comparability

RYM is set to provide an update on the expected benefits/costs associated with the changes to the programme at the release of their half-year results. RYM Chair Dean Hamilton commented on the announcement saying "The Board and Executive team are confident that Ryman’s history of industry-leading innovation and clear focus on what is good enough for mum or dad, provides us with the foundation to deliver a stronger future and one that balances great care with great financial performance. Our residents will continue to remain at the centre of everything we do." It is a recognition of the strategic vulnerabilities in their business model that need fixing.

Precinct Properties (PCT, #19) announced the appointment of a new independent director, Alison Barrass. Barrass has over 30 years of experience with major international fast-moving consumer goods (FMCG) companies like PepsiCo, and Griffins Foods. Barrass is also an independent director at Suncorp NZ, and Spark.

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