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 NZX 50 INDEX IS DOING
The NZX50 is looking at a -0.1% minor dip, extending its five‑day decline to -2.5%. The index remains +5.5% higher over six months and up +4.0% year‑on‑year.
THE MAIN GAINERS
Among 27 gainers, Kathmandu Brands (KMD, #50) rose +5% but remains down -17% over six months and -31% annually. Napier Port (NPH, #39) gained +3%, up +5% month‑on‑month and +49% year‑on‑year. Port of Tauranga (POT, #10) and Spark (SPK, #12) each added +1%; Port of Tauranga is down -4% for the month but up +26% annually, while Spark has fallen -6% in the last month and -27% over the year.
Kathmandu
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THE MAIN DECLINERS
Decliners outnumbered gainers two‑to‑one, with 54 stocks in the red. Stride Property (SPG, #37) and Serko (SKO, #49) each fell -4%; Stride is down -6% over five days but up +13% over six months, flat year‑on‑year, while Serko has dropped -5% over five days and -34% annually. Tourism Holdings (THL, #45) eased -3%, down -9% over the month but up +21% year‑on‑year. Vista Group (VGL, #40) fell -2%, extending a -30% six‑month decline and -13% annual drop.
Stride Property Group
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SMARTSHARES EFTs
| 1-day | 5-day | 6-month | YTD | 1Y | |
| NZ Top 50 ETF (FNZ) | -0.1% | -2.2% | +6.3% | +3.9% | +3.9% |
| NZ Top 10 ETF (TNZ) | +0.4% | -3.5% | +0.5% | -6.2% | -4.8% |
| S/P NZX50 ETF (NZG) | -0.2% | -2.8% | +3.5% | +0.3% | +0.7% |
| NZ Dividend ETF (DIV) | -0.5% | -1.9% | +14.9% | +12.9% | +10.1% |
KEY ANNOUNCEMENTS
Napier Port Holdings (NPH, #39) delivered strong FY25 results, with revenue up +11.6% to $157.7mln and operating earnings rising +23.5% to $64.2mln. Underlying NPAT climbed +36.5% to $28.3mln, while reported NPAT increased +24.4% to $30.9mln. Container volumes rose +9.1% to 250k TEU, offsetting weaker log exports, and bulk imports lifted 23%. The board declared a fully imputed final dividend of 8cps, taking total FY25 dividends to 14.5cps, up from 9cps last year. Napier Port reaffirmed FY26 earnings guidance of $70mln–$74mln, supported by ongoing investment in cranes, plant and strategic projects.
Argosy Property (ARG, #30) reported strong HY26 results, with net property income up +4.9% to $61.2mln and net profit after tax rising to $61.1mln from $33.0mln a year earlier. Interim revaluation gains lifted $31.3mln, while distributable income increased +11.7% to $30.7mln. Occupancy remained steady at 96% with WALT extending to 5.4 years, and NTA per share rose to $1.56. Portfolio gearing was 35.9%, supported by strong rent reviews delivering 4.1% annualised rental growth. Green assets now comprise 37.6% of the portfolio, with progress toward a 50% target by 2031. The board reaffirmed FY26 dividend guidance of 6.65cps and noted CEO Peter Mence will step down in 2027, with succession planning underway.
KMD Brands (KMD, #50) reported Q1 FY26 group sales up +7.9% year‑on‑year, led by Kathmandu (+13.9%) and Rip Curl (+6.6%), while Oboz slipped -1.3%. Direct‑to‑consumer same‑store sales rose +14% at Kathmandu and +3% at Rip Curl. Group gross margin eased -120bps to 55.8% as brands cleared aged inventory, though margins improved on 2H FY25. Inventory was -$8mln lower year‑on‑year, and wholesale order books remain stable. The company reaffirmed its target of $25mln annualised savings in FY26 to support its ‘Next Level’ growth plan, with CEO Brent Scrimshaw noting momentum but highlighting reliance on upcoming Black Friday and Christmas trading periods.
NZX50 Industrial Sector
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