Investor Update - 26 November 2021
Investor AGM Update
26 November 2021
2021 has been a challenging year where covid-19 continued to create market uncertainty and volatility. It has however provided opportunities to grow and improve. Enprise is confident it has measures to mitigate further covid-19 impacts and to support an ambitious growth strategy over the coming years.
Significant cost pressures have arisen, particularly in relation to retaining and recruiting staff (The Great Resignation). This has resulted in us needing to increase salaries across the board. We have however, only been able to increase prices and adjust contracts several months after these salary increases were implemented. The fact that we were unable to match the revenue increases simultaneously with the salary increases will negatively impact the profitability in the half year results, however we expect this to be corrected in the 2nd half of the financial year.
The revenue, including annual renewable revenues in all our investee companies has continued to grow well.
At 31 October 2021, Enprise had no debt, cash reserves of $1.11 million and $2.72 million in undraw bank facilities.
Group unaudited management information for the 4 months ended 31 October 2021, Revenue $5.755 million (2020 $5.234 million), 10% increase.
The zero-brokerage fee share trading platform is looking for ways to bring in revenue and make its business model more sustainable.
Fletcher Building achieved second-half profit margins of 9.5%, just below its target of 10% by the 2023 financial year.
Even under a “bear-case scenario”, the house building pipeline should support Fletcher’s medium-to-long-term performance.
Trading volumes were unusually light, with US markets closed tonight for a national holiday.
The shareholder representatives say the Fletcher board must bear ultimate responsibility for the company’s poor performance and the Gib plasterboard shortage.
NZME has only spent $5.3m of the $30m set aside for share buybacks.
Are banks being too slow to raise term deposit rates? Some analysts say yes.
Peter McIntyre, an investment adviser at Craigs Investment Partners, says New Zealand’s market has been "reliably well-behaved over the course of the day".
The firm has doubled its headcount and is looking to raise capital to expand its manufacturing and engineering focus into green hydrogen applications.
Meridian says the fact that Australia's electricity market has turned into a train wreck shows its decision to pull out was the right one.
The Ministry for Primary Industries estimated Fonterra’s restructuring would cost the average farmer between $135,000 and $400,000.
New Zealand's biggest transport operator plans to have its first 10 dual-fuel hydrogen trucks on the road next year.
Oanda market analyst Edward Moya said the absence of a Bitcoin rally could be a troubling sign for some investors.
Sky TV and MediaWorks will be brushing themselves off after a bruising response to their proposal scotched a SkyWorks deal.
It's important that constraints remain on Fonterra that counterbalance its privileged position in the dairy sector and the national economy, says TDB Advisory.