The NZX reported just 2 actual earnings results this week out of 99 total announcements, with CHI disclosing employee share scheme allocations and gold explorer RGI reporting high-grade drilling results from its Reefton operations. Both announcements generated positive sentiment, though neither represented traditional quarterly financial results.
Channel Infrastructure (CHI)
Channel Infrastructure disclosed the allocation of 29,448 ordinary shares to employees under its Employee Share Purchase Scheme, representing financial assistance of approximately $158,068. The allocation used existing unallocated shares held by the scheme trustee at $2.96 per share, with no new cash outlay required from the company for the share component. Each participating employee contributed $1 toward a $1,211 share allocation, with Channel Infrastructure subsidising the remainder.
The disclosure represents routine corporate governance requirements under the Companies Act 1993 rather than an operational earnings announcement. Channel Infrastructure shares closed the week at $2.97, down 2.3% from Monday's open. This follows recent news of the company issuing new shares under its dividend reinvestment plan and its status as a new dual-listed entity on the ASX as New Zealand's largest fuel supplier.
Rua Gold (RGI)
Rua Gold reported high-grade drilling results from its Supreme and Caledonian prospects within the Reefton Goldfield, with standout intercepts including 0.9m at 26.9g/t gold at Supreme and 4.0m at 6.9g/t gold at Caledonian. Step-out drilling at Supreme nearly doubled the down-plunge extent of known mineralisation from 250m to 400m depth, while Caledonian drilling extended mineralisation 186m below historical workings across a 270m strike length.
The results represent an exploration update rather than financial earnings, with the Supreme intercept marking the second-highest grade ever recorded at that prospect. Rua Gold shares finished the week at $1.75, down 2.0%. The announcement comes after the company filed technical reports for its Reefton and Glamorgan projects and completed its recent NZX debut as a gold explorer focused on New Zealand opportunities.
Weekly Price Movers
Notable Shareholder Movements
Several significant shareholding changes were disclosed this week, led by Allan Gray Australia increasing its stake in Fletcher Building from 18.7% to 19.7%. Bourns Inc strengthened its controlling position in Rakon Limited, lifting its holding from 79.0% to 80.4%. FirstCape Group and Harbour Asset Management raised their combined KMD Brands stake from 7.8% to 9.0%, while Goodman Group marginally increased its position in an unnamed entity from 15.8% to 16.1%. Solution Dynamics director John McMahon also disclosed an 11.1% substantial holding.
Looking ahead, the quiet earnings week reflects the seasonal lull between March year-end companies and the upcoming May reporting period. With Infratil scheduled to announce its FY26 results on 26 May, investors will be watching for guidance from major companies as they prepare for the next earnings cycle.