Five New Zealand companies reported earnings this week alongside one trading update, with results showing a mixed picture as miners advanced development projects while retailers and tech companies faced margin pressures. The week's reporting was dominated by larger companies, with Michael Hill's strong half-year result leading the way.
Earnings Results
RGI - Rua Gold Inc
Rua Gold reported a full-year net loss of CAD $13.4 million for FY2025, marking a significant improvement from the CAD $25.6 million loss in the prior year. The pre-revenue exploration company's loss per share was CAD $0.18, with the improvement primarily driven by lower exploration and evaluation expenditures. The company successfully raised approximately CAD $19.6 million through two equity offerings during the year, ending with CAD $8.5 million in cash compared to just CAD $1.2 million at the end of 2024.
The result comes amid significant corporate developments, with the company filing NI 43-101 Technical Reports for its Reefton and Glamorgan projects and beginning trading on the OTCQX market in the United States. However, auditors flagged material going concern uncertainties given the company's accumulated deficit of CAD $49.9 million since inception and lack of revenue-generating operations. Shares closed at $1.785, down 8.2% over the week.
MHJ - Michael Hill International Ltd
Michael Hill delivered a solid first-half result with revenue growing 3.0% to $371.0 million and net profit surging 32.0% to $22.3 million. The jewellery retailer achieved same-store sales growth of 3.8% across all three markets, with Canada leading at 6.1%, Australia up 4.8%, and New Zealand recovering with 1.8% growth. The company's balance sheet strengthened materially, moving to a net cash position of $20.7 million versus net debt of $9.8 million in the prior year.
No interim dividend was declared, though the board intends to reinstate dividends at the full year. Early second-half trading has been encouraging, with group same-store sales up 6.0% in the first eight weeks. This follows recent analyst downgrades from Jarden, with shares closing at $0.515, down 1.9% for the week.
ENS - Enprise Group Limited
Enprise Group reported revenue growth of 3.5% to NZ$12.95 million for the first half but swung to a net loss of $0.54 million from a profit of $0.15 million in the prior corresponding period. The technology services company's loss per share was $0.027, with the deterioration driven by a sharp 13.2% rise in employee costs to $10.37 million, compressing margins across the business.
Despite the headline loss, management highlighted some positive underlying trends, including 12% growth in recurring revenue at the core Kilimanjaro Consulting segment and improved positioning in Acumatica and HubSpot services. Operating cash flow remained positive at $0.62 million, and net cash improved to $1.41 million from $0.94 million at 30 June 2025. Shares were unchanged at $0.56 over the week.
CRP - Chatham Rock Phosphate Limited
Chatham Rock Phosphate reported a net loss of CAD $725,733 for the nine months ended December 31, 2025, an improvement of 28% from the CAD $1.01 million loss in the prior period. The development-stage phosphate explorer generated no revenue and posted a loss per share of CAD $0.007. General and administrative expenses declined significantly to CAD $735,382, demonstrating effective cost management during the period.
The company raised CAD $452,774 through financing activities, including share capital proceeds and advances from potential investors. However, significant going concern uncertainties persist, with current liabilities exceeding current assets by CAD $364,985 and a cash balance of only CAD $71,441 at period end. This follows news of the company selling its Australian subsidiary for $1.4 million. Shares fell 6.1% to $0.062 over the week.
Trading Updates & Guidance
SVR - Savor Limited
Savor Limited announced it will commence dividend payments and provided a trading update, though specific financial details were not disclosed in the summary. The food technology company's shares gained 5.3% to $0.20 over the week. This comes following recent news that Sky TV's chairman has become the company's second largest shareholder, signaling growing investor confidence in the business.
Top Movers
| Company | Ticker | Revenue Change | Weekly Price Change |
|---|---|---|---|
| Michael Hill International Ltd | MHJ | +3.0% | -1.9% |
| Enprise Group Limited | ENS | +3.5% | 0.0% |
Notable Shareholder Movements
Several significant shareholding changes were recorded this week. Philip Bowman increased his stake in Savor Limited from 10.6% to 12.6%, reinforcing the positive momentum around the food technology company. Meanwhile, Bourns Inc. lifted its holding in Rakon Limited from 61.5% to 64.2%, further consolidating its control of the frequency control solutions company.
Other notable movements included Harbour Asset Management reducing its Pacific Edge holding from 11.1% to 10.0%, dropping below the substantial holder threshold, while Carl Storm and associated parties trimmed their WasteCo Group stake from 12.9% to 11.6%.
With the traditional February reporting season now behind us, investor attention will turn to companies providing quarterly updates and any early guidance for the full financial year ahead.