Scrip Magazine Issue: August 2024

Allied Farmers Limited – 2024 Special Meeting Report

Special Meeting Report, July 11th 2024 Click here for NZSA Assessment and Voting Intentions The Company was seeking shareholder approval to certain amendments to its constitution that are designed to preserve the significant value in the Company’s available tax losses.  During FY23, Allied Farmers obtained a Private Ruling from Inland Revenue that increased unused tax…
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Putting the Steel into future returns…

This is an interview with Mark Malpass, CEO, Steel & Tube, carried out on June 19th 2024. Listen in for his thoughts on Steel and Tube’s past, present and future – and the value of good governance. Oliver Mander

Geneva Finance Limited – 2024 Special Meeting Report

Special Meeting Report, July 5th 2024 Click here for NZSA Assessment and Voting Intentions The Company was seeking shareholder approval to delist from the NZX and list on the Unlisted Exchange (USX). In the Notice of Meeting the company stated that remaining NZX-listed “would mean bearing disproportionate costs relative to the benefits. Remaining listed on…
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Oceania Limited – 2024 Annual Meeting Report

Annual Meeting Report, June 27th 2024 Click here for NZSA Assessment and Voting Intentions Metric 2021 (10 months) 2022 2023 2024 Change Revenue $175.4m $231.1m $247.2m $265.5m 7% NPAT $85.7m $61.1m $15.4m $31.5m 82% EPS1 $0.138 $0.086 $0.022 $0.043 81% Fair value gain/loss $82.3m $63.5m $21.4m $55.7m 160% PE Ratio 11 12 32 13 Capitalisation…
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PharmaZen Limited – 2024 Annual Meeting Report

Annual Meeting Report, June 27th 2024 Click here for NZSA Assessment and Voting Intentions Metric 2020 2021 2022 2023 Change Operating Revenue $21.5m $20.5m $24.6m $28.9m 10% Cost of Sales $12.0m $14.0m $16.3m $19.2m 6% NPAT $3.8m -$.8m $0.8m $5.5m 600% Gross Profit Margin 44% 31% 34% 33% 7% Inventory Turnover 4.63 3.52 3.62 4.42…
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Serko Limited – 2024 Annual Meeting Report

Annual Meeting Report, July 2nd 2024 Click here for NZSA Assessment and Voting Intentions Metric 2021 2022 2023 2024 Change Revenue $16.9m $18.9m $48.0m $71.2m 48% NPAT -$28.7m -$36.0m -$30.5m -$15.7m n/a EPS -$0.266 -$0.30 -$0.25 -$0.13 n/a PE Ratio n/a n/a n/a n/a Capitalisation $766m $438m $270m $377m 39% Current Ratio 10.20 9.83 8.30…
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When the rock of directors judgement meets the hard place of auditing standards…

Auditors play a key role in providing shareholders with assurance as to the reporting surrounding their investment. From an investor perspective, there is plenty to take away from an audit report; the handy summary of “Key Audit Matters” (KAM’s) is a helpful guide to determining what matters when it comes to a company’s financial statements.…
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EROAD Limited – 2024 Annual Meeting Report

Annual Meeting Report, June 26th 2024 Click here for NZSA Assessment and Voting Intentions Metric 2021 2022 2023 2024 Change Revenue $91.6m $114.9m $174.9m $182m 4% Operating Expense $60.9m $93.9m $129.7m $128.7m -1% Operating Margin 18% 26% 29% 13% EBITDA $30.7m $21.0m $45.2m $53.3m 18% NPAT $2.0m -$9.6m -$3.0m -$0.3m n/a EPS $0.024 -$0.087 -$0.027…
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Investore Property Limited – 2024 Annual Meeting Report

Annual Meeting Report, June 26th 2024 Click here for NZSA Assessment and Voting Intentions Metric 2021 2022 2023 2024 Change Rental Income $64.5m $67.9m $71.0m $72.8m 3% Change in Valuation $139.3m $91.8m -$185.2m -$98.7m n/a NPAT $161.3m $118.2m -$150.2m -$67.1m n/a EPS $0.446 $0.321 -$0.408 -$0.182 n/a PE Ratio 5 5 n/a n/a Capitalisation $578m…
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T&G Global Limited – 2024 Annual Meeting Report

Annual Meeting Report, June 26th 2024 Click here for NZSA Assessment and Voting Intentions Metric 2021 2022 2023 2024 Change Revenue $1,413m $1,376m $1,317m $1,348m 2% NPAT1 $11.1m $8.8m -$0.9m -$46.6m n/a EPS1 $0.091 $0.072 -$0.045 -$0.417 n/a PE Ratio 32 39 n/a n/a Capitalisation $348m $252m $227m -7% Current Ratio 1.39 1.40 1.56 1.52…
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