First NZ Capital tips slower earnings growth for August reporting season

Thu, 02 Aug 2018

By Rebecca Howard Aug. 2 (BusinessDesk) - First NZ Capital anticipates smaller earnings growth for the majority of companies reporting in August amid ongoing signs that businesses are worried about profitability. FNZC analysts Paul Turnbull and Arie Dekker also forecast average normalised earnings before interest, taxes, depreciation, and amortisation to rise 5.9 percent, slowing from 12 percent a year earlier when A2 Milk Co and Mercury NZ provided upside surprises. The forecasts are based on recent earnings revisions, with electrici...

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