V 
1.80
-0.55%
Close of 9 Nov 2026, in NZD
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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in NZD, from our data supplier.
Revenue
NZD 177.1m
FY2016FY2025
Net income
−NZD 51.2m
FY2016FY2025
Free cash flow
NZD 67.0m
FY2016FY2025
Shareholders' equity
NZD 1.68bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | NZD 177.1m | NZD 168.8m | NZD 171.3m | NZD 143.6m | NZD 126.1m | NZD 114.4m | NZD 111.4m | NZD 103.9m | NZD 99.5m | NZD 77.1m |
| Gross profit | NZD 131.2m | NZD 119.8m | NZD 111.7m | NZD 91.4m | NZD 84.2m | NZD 73.9m | NZD 70.2m | NZD 65.7m | NZD 69.3m | NZD 55.8m |
| Operating income | NZD 122.6m | NZD 114.5m | NZD 107.3m | NZD 85.5m | NZD 78.7m | NZD 69.4m | NZD 66.6m | NZD 59.4m | NZD 67.6m | NZD 53.3m |
| Net income | −NZD 51.2m | −NZD 107.6m | −NZD 152.4m | NZD 303.5m | NZD 278.4m | NZD 58.1m | NZD 93.4m | NZD 100.1m | NZD 217.6m | NZD 117.2m |
| Diluted earnings per share | -0.08 | -0.16 | -0.23 | 0.53 | 0.56 | 0.13 | 0.21 | 0.23 | 0.51 | 0.34 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | NZD 3.25bn | NZD 3.30bn | NZD 3.43bn | NZD 3.40bn | NZD 2.66bn | NZD 2.11bn | NZD 1.93bn | NZD 1.79bn | NZD 1.39bn | NZD 978.2m |
| Cash and short-term investments | NZD 15.6m | NZD 18.9m | NZD 10.9m | NZD 22.1m | NZD 6.9m | NZD 5.3m | NZD 6.1m | NZD 5.4m | NZD 3.4m | NZD 13.0m |
| Total liabilities | NZD 1.57bn | NZD 1.50bn | NZD 1.47bn | NZD 1.23bn | NZD 1.16bn | NZD 1.03bn | NZD 901.8m | NZD 798.9m | NZD 512.4m | NZD 454.5m |
| Debt | NZD 1.37bn | NZD 1.30bn | NZD 1.24bn | NZD 1.02bn | NZD 933.5m | NZD 817.3m | NZD 734.2m | NZD 668.7m | NZD 401.9m | NZD 344.2m |
| Shareholders' equity | NZD 1.68bn | NZD 1.81bn | NZD 1.96bn | NZD 2.17bn | NZD 1.50bn | NZD 1.08bn | NZD 1.03bn | NZD 988.0m | NZD 879.8m | NZD 523.7m |
| Shares outstanding | 676m | 669m | 656m | 569m | 501m | 454m | 446m | 437m | 424m | 347m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | NZD 68.4m | NZD 61.4m | NZD 73.6m | NZD 60.5m | NZD 56.6m | NZD 44.4m | NZD 40.6m | NZD 45.7m | NZD 54.5m | NZD 40.3m |
| Capital spending | −NZD 1.4m | −NZD 10.7m | −NZD 152.0m | −NZD 299.9m | −NZD 242.8m | −NZD 65.3m | −NZD 23.5m | −NZD 187.7m | −NZD 223.3m | −NZD 70.0m |
| Free cash flow | NZD 67.0m | NZD 50.8m | −NZD 78.4m | −NZD 239.4m | −NZD 186.2m | −NZD 20.8m | NZD 17.1m | −NZD 142.0m | −NZD 168.8m | −NZD 29.7m |
| Dividends paid | −NZD 59.9m | −NZD 57.2m | −NZD 50.6m | −NZD 31.4m | −NZD 25.5m | −NZD 33.5m | −NZD 32.6m | −NZD 31.1m | −NZD 30.7m | −NZD 25.0m |
Latest quarters
By quarter end
| Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Sept 2023 | Jun 2023 | Mar 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | NZD 89.4m | NZD 87.7m | NZD 84.9m | NZD 83.9m | NZD 41.7m | NZD 87.6m | NZD 44.8m | NZD 83.7m |
| Gross profit | NZD 74.5m | NZD 74.3m | NZD 72.1m | NZD 72.4m | NZD 30.2m | NZD 73.2m | NZD 11.1m | NZD 72.1m |
| Operating income | NZD 63.0m | NZD 59.6m | NZD 57.0m | NZD 57.6m | NZD 18.5m | NZD 54.0m | NZD 16.3m | NZD 53.3m |
| Net income | −NZD 11.9m | −NZD 39.3m | NZD 5.5m | −NZD 113.1m | −NZD 24.1m | −NZD 121.4m | NZD 8.3m | −NZD 31.0m |
| Diluted earnings per share | -0.02 | -0.06 | 0.01 | -0.17 | -0.04 | -0.18 | 0.01 | -0.05 |
| Total assets | NZD 3.25bn | NZD 3.27bn | NZD 3.30bn | NZD 3.27bn | — | NZD 3.43bn | — | NZD 3.50bn |
| Cash and short-term investments | NZD 15.6m | NZD 7.1m | NZD 18.9m | NZD 13.4m | — | NZD 10.9m | NZD 12.8m | NZD 12.4m |
| Debt | NZD 1.37bn | NZD 1.33bn | NZD 1.30bn | NZD 1.25bn | — | NZD 1.24bn | — | NZD 1.03bn |
| Shareholders' equity | NZD 1.68bn | NZD 1.74bn | NZD 1.81bn | NZD 1.81bn | — | NZD 1.96bn | NZD 2.08bn | NZD 2.08bn |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 7.2% | 9.1% | 10.1% |
| Operating income | 12.8% | 12.1% | 9.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 72.6% | 68.7% | 67.9% | 68.5% |
| Operating margin | 68.6% | 65.1% | 64.1% | 64.2% |
| Net margin | -45.9% | -1.2% | 36.5% | 70.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -26.3 | -11.4 | -9.5 | 4.2 | 5.6 | 25.4 | 13.4 | 9.1 | 4.3 | 5.9 |
| Price to sales | 7.6 | 7.3 | 8.5 | 8.9 | 12.4 | 12.9 | 11.2 | 8.7 | 9.4 | 9.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 27 years. Last went ex-dividend on 18 Aug 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.111 | 0.117 | 0.143 | 0.122 | 0.104 | 0.075 | 0.058 | 0.025 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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