NZ sharemarket dips despite positive earnings reports
The S&P/NZX 50 Index was on a gradual slide all day and closed at 11,675.99, down 59.72 points or 0.51%.
There were 73 gainers and 58 decliners over the whole market on volumes of 26.56 million share transactions worth more than $112.77m.
Utilities investor Infratil declined 55c or 4.89% to $10.70 on trade worth $19.24m, after reporting a 75.7% rise in revenue to $3.323 billion and 50.6% increase in net profit to $845.5m for the year ending March. It is paying a final dividend of 13c a share on June 25.
Infratil’s proportionate operating earnings (ebitdaf) rose 63% to $864m, mainly as a result of taking full ownership of One NZ, formerly Vodafone. The ebitdaf guidance for the 2025 financial year was increased to $980m-$1.03b. Infratil has $820m available to find growth.
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