Former high flier A2 Milk takes a tumble on earnings downgrade
10 May, 2021 05:34 AM
5 minutes to read
A2 Milk has taken a big knife to its EBITDA margin forecasts for 2021.
Shares in former sharemarket darling a2 Milk took a battering after the alternative dairy company slashed its revenue and earnings forecasts for the 2021 financial year.
It was its fourth consecutive downgrade. A2 s shares closed at $6.62, having bounced off their session low of $6.05 but still well down from Friday s close of $7.59.
The dual listed company is now targeting revenue for 2021 of $1.20 billion to $1.25b, down from an earlier forecast of $1.4b.
Market close: A2 Milk drags sharemarket lower
10 May, 2021 05:38 AM
3 minutes to read
A2 Milk s woes rubbed off on the rest of the market. Photo / File
NZ Herald
A2 Milk s roller coaster ride saw the sharemarket close weaker as investors digested a fourth significant earnings downgrade from the alternative milk company. By the close
a2 Milk shares were down by 97c or 13 per cent at $6.62 but were off their low for the day of $6.05 after downgrading its earnings forecast for the fourth time, based on problems with the infant formula trade into China.
A2 Milk s downgrade brought it into line with broker forecasts.
Market close: NZ sharemarket falls as investors digest economic data
5 May, 2021 05:38 AM
4 minutes to read
ANZ New Zealand reported half-year profit increased 18 per cent to $930m. Photo / 123RF
NZ Herald
By: Graham Skellern
Investors stepped back to digest a flow of economic data and what it means as the New Zealand sharemarket fell half a per cent after two days of rises. The S&P/NZX 50 Index was down 63.88 points or 0.49 per cent to 12,848.31 in rocky trading, after hitting an intraday low of 12,759.14 and high of 12,912.19.
There were 61 gainers and 70 decliners over the whole market, with 61.7 million shares worth $232.49 million changing hands.
Market close: Vista Group big mover as sharemarket rises
29 Apr, 2021 05:38 AM
4 minutes to read
Vista Group rose 7c or 3.04 per cent to $2.37. Photo / Getty Images
NZ Herald
By: Graham Skellern Market leader Fisher and Paykel Healthcare conducted the heavy lifting and led the New Zealand sharemarket to a gain of half a per cent. Outside of Fisher and Paykel s hard work, the market was in a holding pattern, awaiting the latest round of company financial results.
The S&P/NZX 50 Index picked up 69.06 points or 0.55 per cent to 12,715.20 on steady volume of 34.8 million share transactions worth $170.67 million. There were 49 gainers and 76 decliners over the whole market of 185 stocks.