NZ shares tumble as earnings fail to excite

Wed, 19 May 2021

New Zealand shares fell as earnings results failed to impress investors worried about inflation. Serko led the decline after posting a near $30 million loss. The S&P/NZX 50 Index fell 134.36 points, or 1.1%, to 12,294.26. Within the index, all but ten stocks fell, with three of those unchanged. Serko’s loss, while hefty, was not unexpected and was in line with analyst expectations. The company today reported a net loss of $29.4m on operating revenue of just $12.4m. Shares in the travel booking software company plunged 6...

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