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 index is currently up +0.2%, gaining +2.3% over the last five days. Year-on-year it has gained +10.1%.
THE MAIN GAINERS
There were 40 gainers on the market today, led by Property for Industry (PFI, #27), which rose +4%, extending its five-day gain to +3% and lifting its year-on-year performance to +15%. Gentrack (GTK, #36) added +2%, though the stock remains down -8% month-on-month and -33% year-on-year. Tower Limited (TWR, #41) gained +1%, continuing its steady momentum with a +7% rise over the past six months and a +32% increase year-on-year. SkyCity Entertainment (SKC, #33) also lifted +1%, despite falling -6% over the past five days and sitting -33% lower compared with a year ago.
Property for Industry
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THE MAIN DECLINERS
On the downside, 43 stocks closed lower, led by Serko (SKO, #49), which dropped -4% and is now down -9% over the last five sessions and -43% year-on-year. Ryman Healthcare (RYM, #18) and Channel Infrastructure (CHI, #30) both declined -3%, with Ryman falling -18% month-on-month and -23% year-on-year, while Channel Infrastructure remains up +42% year-on-year despite today’s loss. Vulcan Steel (VSL, #29) slipped -2%, extending its monthly decline to -8% and leaving the stock down -3% compared with the same time last year.
Serko
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SMARTSHARES EFTs
| 1-day | 5-day | 6-month | YTD | 1Y | |
| NZ Top 50 ETF (FNZ) | -0.1% | +1.3% | +1.7% | -2.4% | +7.2% |
| NZ Top 10 ETF (TNZ) | +0.6% | +2.8% | +2.3% | +1.3% | +6.0% |
| S/P NZX50 ETF (NZG) | +0.6% | +2.1% | +2.1% | +0.2% | +7.1% |
| NZ Dividend ETF (DIV) | +0.4% | +1.5% | +4.1% | -0.8% | +17.4% |
KEY ANNOUNCEMENTS
Diversified agribusiness group Scales Corporation Limited (SCL, #34) reported record FY2025 results, driven by strong performances across its Horticulture, Global Proteins, and Logistics divisions. Reported NPAT attributable to shareholders rose to $101.0 mln, up from $30.3 mln the prior year, while underlying NPAT increased to $61.8 mln from $34.1 mln, supported by higher apple export volumes, improved pricing, and continued growth in protein and logistics operations. Group revenue climbed +54% to $899.9 mln, with underlying EBITDA lifting +50% to $137.6 mln, reflecting strong operational execution and strategic investments across joint venture businesses. The company maintained a solid financial position despite increased investment activity, ending the year with net debt of $84.1 mln, and paid dividends of 15.0 cents per share during FY2025. Looking ahead, Scales reaffirmed FY2026 guidance for underlying NPAT attributable to shareholders between $50.0 mln and $55.0 mln, supported by favourable apple pricing expectations, continued strength in Global Proteins, and ongoing logistics demand.
Meridian Energy (MEL, #2) reported a strong rebound in its FY26 half-year results, supported by near-record lake inflows and record wind generation, with operating cash flows rising to $336 mln compared with $50 mln in the prior period impacted by the Winter 2024 drought. Net profit after tax reached $227 mln, reversing a $121 mln loss a year earlier, while EBITDAF increased to $506 mln from $257 mln and underlying NPAT improved to $143 mln from a $5 mln loss. Performance was driven by a +59% lift in energy margins alongside record retail sales volumes, while lower wholesale electricity prices reflected strong renewable generation conditions. The company declared an interim dividend of 6.40 cents per share, up from 6.15 cents previously, and continued advancing its renewable development pipeline, including wind, solar, and battery projects, as it targets expanded generation capacity and improved energy affordability while strengthening New Zealand’s electricity supply resilience.
EBOS Group (EBO, #10) reported strong HY26 interim results, delivering revenue growth of +13% to $6.77 bln while underlying EBITDA increased +3.2% to $300 mln, supported by disciplined execution and continued demand across healthcare and animal care markets. Healthcare EBITDA rose +1.3% to $254 mln on solid revenue momentum and cost management, while Animal Care EBITDA lifted +15.1% to $68 mln following strong branded performance and the successful acquisition of SVS. Net profit after tax declined slightly to $125 mln, reflecting transitional costs associated with major distribution centre investments, though statutory earnings improved year-on-year. The company reaffirmed FY26 EBITDA guidance, highlighting confidence in second-half performance driven by productivity gains, recent acquisitions, and expansion across retail pharmacy, medical technology, and animal care. EBOS maintained its interim dividend at 57.0 cents per share and expects stronger cash flows from FY27 as capital expenditure moderates following completion of its distribution network renewal program.
NZX50 Energy Sector
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