MARKET CLOSE: NZ shares fall as Gentrack sinks on profit warning

Fri, 22 Nov 2019

New Zealand shares fell, led lower by Gentrack, after the utilities software developer downgraded its earnings and gave a flat outlook for 2020. The S&P/NZX 50 Index decreased 11.86 points, or 0.1 percent, to 10,946.30. Within the index, 16 stocks fell, 20 rose, and 14 were unchanged. Turnover was $138.7 million. Gentrack dropped 12.6 percent to $4.50, the lowest close in more than two years, after it said earnings before interest, tax, depreciation and amortisation were below its previous guidance range of $25-26 million in the year en...

Subscribe to BusinessDesk

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.
Find out more.

We are serious about journalism.

Already a Subscriber ? Sign in here.

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].name) | 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

New structure, powers for ComCom

Groceries, aviation, building supplies, digital services carparking all get a mention.

Pattrick Smellie 10:28am

The Quiz Free

QuiznessDesk, Tuesday, Sept 16

Can you get them all correct without cheating?

The Quizmaster 9:15am

Technology

Lift-off: Victoria University’s Mission Hēki goes into orbit

The SpaceX rocket had a flawless launch from Cape Canaveral.

Greg Hurrell 5:00am

Lift-off: Victoria University’s Mission Hēki goes into orbit

Sponsored

Future leaders start by Dreaming Big

How OnBeingBold empowers Year 13 girls at free leadership events.

OnBeingBold

Sponsored

Free AI training blitz targets 10,000 Kiwis

Workshops aim to close NZ’s AI skills gap and boost productivity – no tech skills required.

Sponsored by Lumify

More Markets

Markets

New structure, powers for ComCom

Groceries, aviation, building supplies, digital services carparking all get a mention.

Pattrick Smellie 10:28am

Markets

NZME shareholder Jim Grenon lifts investment in media firm

NZME shareholder and director Jim Grenon has lifted his investment in the media business for the second time in recent weeks, to just under 18%.A notice to the NZX on Monday stated Grenon had lifted his shareholding from 15.963% to 17.932%, after acquiring 3.7 million shares for...

Staff reporters 9:10am