New Zealand markets saw seven companies report actual earnings results this week, led by SCL and BGP delivering contrasting performances. SCL posted record results with revenue surging 54%, while BGP achieved record sales despite margin pressure. Corporate actions dominated the week with KMD undertaking a heavily discounted equity raise that sent shares tumbling 55%.
Genesis Energy (GNE)
Genesis Energy announced the resignation of CFO Julie Amey, effective 10 April 2026, following her successful leadership of the enterprise software implementation and finance transformation programme. The company has initiated a search for a new CFO focused on supporting its growth programme acceleration. This follows Genesis Energy's completion of a NZ$400 million capital raise and rights offer to fund renewable growth initiatives. Shares traded at $2.17, up 0.5% for the week.
Briscoe Group (BGP)
Briscoe Group delivered record sales of $798.8 million for the full year ended 25 January 2026, up 0.9% despite sustained pressure on consumer confidence in New Zealand. However, NPAT declined 2.3% to $59.2 million, impacted by gross margin compression from 40.4% to 39.2% and lower interest income as cash was deployed into capital projects. EPS fell to 26.6 cents while the company maintained its fully imputed dividend of 20.0 cents per share.
Online sales exceeded 20% of total group sales for the first time post-COVID, supported by successful Adobe Commerce and Marketplacer platform launches. The group maintained a strong balance sheet with $130.3 million cash and no drawn term debt. Shares traded at $4.53, down 2.6% for the week following margin slippage concerns.
Scales Corporation (SCL)
Scales Corporation delivered record results across all earnings measures for FY2025, with revenue surging 54% to $899.9 million and NPAT rising 45% to $77.6 million. The strong performance was driven by contributions from all three divisions and material benefits from increased joint venture shareholdings acquired during 2024-2025, including full consolidation of Meateor Australia, Fayman International, and ANZ Exports.
EPS reached 70.7 cents while the company declared a dividend of 15.0 cents per share. The company increased its Global Proteins FY27 Underlying EBITDA target from $70 million to $85 million following the consolidation of its acquisitions. This comes as analysts' revenue estimates for Scales have been surging higher. Shares traded at $5.90, down 1.7% for the week.
KMD Brands (KMD)
KMD Brands reported improved 1H FY26 results with group sales up 7.3% to $505.4 million, driven by strong Kathmandu momentum with 12.3% sales growth and 12.8% same-store sales growth. Underlying EBITDA surged to $11.5 million from $3.9 million in the prior period, though the group remains in a loss position with Underlying NPAT of negative $11.5 million, improved from negative $16.1 million.
The company undertook a heavily discounted equity raising of approximately $65.3 million alongside debt refinancing to strengthen its balance sheet. No interim dividend was declared. KMD completed a $44.2 million institutional capital raise, with shareholders facing a hugely discounted offering. Shares plummeted 54.9% for the week to 8.8 cents following the dilutive capital raise.
Santana Minerals (SMI)
Santana Minerals held a General Meeting on 31 March 2026 where all five resolutions were carried by poll with strong shareholder support. The resolutions related to ratification and approval of share issuances under placement arrangements, including shares to directors. This follows the company raising around AU$4.1 million via a share purchase plan. Shares gained 7.6% for the week to 84.5 cents.
Goodman Property Trust (GMT)
Goodman Property Trust held a Special Meeting on 31 March 2026 where unitholders voted overwhelmingly in favour of transitioning to a corporatised and stapled structure. The Extraordinary Resolution passed with 99.95% of votes in favour from over 1.19 billion units voted. The transaction is expected to complete on 7 April 2026, following strong H1 earnings and guidance reaffirmation.
Notable Shareholder Movements
BlackRock increased its substantial holding in AIA from 10.3% to 11.4%, while Harbour Asset Management lifted its stake in SUM from 7.6% to 8.6%. Bourns further increased its dominant position in RAK from 77.8% to 79.0%, while Northcape Capital became a new substantial holder in VNT with a 5.2% stake.
Weekly Price Movers
The week highlighted mixed fortunes across New Zealand's listed companies, with capital raising activity dominating headlines. As April progresses, markets will watch for further earnings results and the completion of several pending corporate restructures, including Goodman Property Trust's transition to its new structure.