Auckland Airport shares fall on weaker forward guidance

Chief executive Carrie Hurihanganui says NZ has some catching up to do after being one of the last countries to reopen its borders. (Image: Auckland Airport)

Dan Brunskill

Thu, 18 Aug 2022

Auckland International Airport has comfortably beat its own profit guidance with a net loss of just $11.6 million in the year ended June 30, thanks to a fourth-quarter travel boom.However, shares in the company dropped almost 3% after the result as investors absorbed profit guidance for the 2023 financial year, which was lower than some had expected.Analysts at Macquarie said in a preview last week that they were forecasting a net profit of about $71m, “well below Bloomberg consensus of $141m”.Jarden had a similar prediction at abou...

Subscribe to BusinessDesk

Unlock access to all stories with this special annual deal for just $99. Sale ends Monday 25 November 2024 11.59pm.

Stay informed on business, government and financial developments across New Zealand.
Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Subscription renews at $349. Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].interval) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Markets

Directionless NZ sharemarket slips 0.6%

The S&P/NZX 50 Index couldn’t sustain a steady morning’s trading and closed at 12,737.06.

Graham Skellern 6:30pm

Primary Sector

Westpac lifts milk price forecast to $10/kgMS

ASB also lifted its forecast.

Riley Kennedy 3:20pm

Westpac lifts milk price forecast to $10/kgMS

Policy

Transport dominates investment intentions - Treasury

NZTA forecast investments of $120b over the next 10 years, dwarfing other agencies.

Oliver Lewis 2:00pm

Transport dominates investment intentions - Treasury

Sponsored

Culture strengthens Māori business

Collaboration and culture offer strength in turbulent times.

BDO

Sponsored

Why large format retail may be about to have a moment

LFR offers regular returns with strong tenants and long leases.

PMG

More Markets

Markets

Directionless NZ sharemarket slips 0.6%

The S&P/NZX 50 Index couldn’t sustain a steady morning’s trading and closed at 12,737.06.

Graham Skellern 6:30pm

Markets

Arvida’s earnings tick up before delisting

In its final earnings report before going private, Arvida declared falling underlying profits but improved operating earnings in the six months to the end of September.The recently-acquired retirement village and aged care operator told the New Zealand Exchange (NZX) on Tuesday t...

Gregor Thompson 12:10pm

Markets

Vital Healthcare considers proposal to split assets

Vital Healthcare will consult on a proposal to split its assets between New Zealand and Australia and become a dual-listed trust. Vital Healthcare Property Trust told the New Zealand Exchange (NZX) on Monday that Northwest Healthcare Properties Management, which manages Vital, ta...

Staff reporters 10:21am

Markets

Direct Capital concludes sixth fund with Active Refrigeration investment

Rebecca Stevenson 9:00am

Auckland Airport shares fall on weaker forward guidance

More Markets

Your company has a subscription

Team