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Growth NZ wants to achieve 5% annual economic growth by 2035
Fiona Rotherham
Wed, 25 Feb 2026
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Tue 24 Feb 2026 08:52:49pm
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Tue 24 Feb 2026 08:52:49pm
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Ebos delivers half-year result in line with expectations
Dual-listed healthcare and animalcare company Ebos has reported a 13% increase in revenue to A$6.7 billion ($7.92b) in its half-year result, in line with market and analysts’ expectations, while reaffirming full-year guidance. The company’s share price has plummeted 37% in the past year after a disappointing 2025 result, where earnings were about 4% lower than expected. Underlying ebitda of A$303m was also consistent with guidance, after the commissioning of strategic investments, while net profit after tax was A$15m up on the FY25 first-half at A$125m. Animal Care’s ebitda lifted 15% to A$68m, driven by good performance among its key brands and the acquisition last year of Kiwi pet medicine supplier SVS. Healthcare ebitda grew 1.3% to A$254m with strong competition in community pharmacy. The company expects full-year underlying ebidta in the range of A$615m to A$635m, underpinned by efficiencies in healthcare from its major distribution centre renewal programme.
Steel & Tube sinks deeper into the red
Metal processor and distributor Steel & Tube has posted a deeper half-year loss, as an increase in sales was not enough to offset mounting costs. The NZX-listed company has reported a $12.4 million loss for the six months ended December, compared with a $10.4m loss in the prior year. Accounting for one-off gains and losses, its normalised earnings before interest, tax, depreciation and amortisation rose to $2.8m from $1.2m in the prior year. Revenue for the half increased 8% to $211.9m, following an 11% lift in sales volumes and slightly improved margins, although company expenses rose to $222.9m from $206.7m.
Net cash inflows were down sharply to $5.6m from $23.1m in the prior year. Chief executive Mark Malpass said the business continued to be affected by a “stop-start” market recovery, although there were some signs of improvement, particularly in manufacturing. Looking ahead, the company said its focus was on shoring up its balance sheet.
Meridian posts record half year result
Electricity generator and retailer Meridian has posted a top half year result as strong hydro and wind conditions combined with record retail sales.
In a statement to the NZX, chief executive Mike Roan said the outcome was a welcome change from the financial hit the previous year.
“A core part of our business is to manage weather variability, so we were pleased Mother Nature came to the party in the first half of the year,” he said.
“These conditions helped deliver a strong financial result and a period of extremely low wholesale prices. This is a sign of a market that continues to function well.”
Earnings before interest, tax, depreciation, amortisation and financial instruments were a record $506 million for the six months to December, almost double the $257m reported for the same period a year earlier.
Net profit matched the previous half year record in 2020 of $227m.
The company declared an interim dividend of 6.4c a share, up from 6.15c last year.
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Tue 24 Feb 2026 08:51:06pm
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