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Mon 23 Feb 2026 08:39:54pm
MARKET MOVEMENTS
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Mon 23 Feb 2026 08:39:54pm
MARKET MOVEMENTS
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NZME back in the black
Media company NZME has reported a $13.1m net profit in the 12 months ended December, up from last year’s $16m loss, which was badly affected by one-off costs.
Total revenue eased to $345.6m from $350.6m in the prior year, while operating expenses fell to $289.3m from $300.5m following job cuts.
NZME’s preferred measure of financial performance – operating earnings before interest, tax, depreciation and amortisation – was $62.3m, exceeding the top end of its $59m to $62m guidance range and increasing 15% on the prior year. This was driven by growth across its OneRoof, audio, and publishing divisions.
Chief executive Michael Boggs said the strong performance reflects a “huge” amount of hard work from its staff, as well as easing inflation and improving business confidence.
Looking ahead, the company said it expects to benefit from an economic upturn in FY26 and will focus on expanding its OneRoof property classifieds business.
The board declared a final dividend of six cents per share.
Vulcan Steel’s interim profit falls 9%
Dual-listed metal distributor Vulcan Steel’s net profit for the six months ended December fell to $8.7m from $9.2m in the same period year ago, despite revenue rising 8.6% to $535.4m from $493m.
The weaker bottom line comes as general administrative expenses jumped about $16m to $140.3m over the year and margins eased.
Vulcan chief executive Gavin Street said the economic climate in New Zealand and Australia has remained mixed, with both countries facing challenging economic conditions.
The company completed a $93.8m acquisition of Roofing Industries over the half, and three months of its earnings are included in the interim result.
Vulcan’s operating cashflows were down more than half to $38.7m from $80.7m a year ago, but managed a $30.1m reduction in net debt.
The company said the outlook across both sides of the Tasman remains difficult. While it is “cautiously optimistic” about a gradual improvement in conditions, it said profitability in the industry remains challenging.
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Mon 23 Feb 2026 08:39:40pm
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