Sharechat Logo

NZME Limited (NZX: NZM) Half Year Results to 30 June 2021

Tuesday 24th August 2021

Text too small?

NZME Limited has today announced its financial results for the half year ended 30 June 2021, reporting Statutory Net Profit After Tax (“NPAT”) of $5.6 million, up 85% on the corresponding period in 2020.

NZME also announced growth in Operating Earnings before Interest, Tax, Depreciation and Amortisation (EBITDA) to $30.1 million for the half year, representing 4% growth in Operating EBITDA against the first half of 2020. Operating revenue was $172.5m which was 9% higher than the first half of 2020.

“NZME is delighted to share a set of results that feature earnings growth and a further reduction in net debt,” said NZME CEO Michael Boggs.

“Emerging from the significant disruption encountered in 2020 NZME has maintained a steadfast focus on key strategic priorities. This has meant that as New Zealand’s many commercial sectors are steadily rebuilding their investment in audience engagement, NZME’s advertising revenues continue to approach the levels achieved in 2019, before the pandemic struck,” said Boggs.

NZME’s Net Debt was reduced by a further $15.2 million during the half year to $18.6 million and is now below NZME’s target leverage ratio.

“A rigorous commercial discipline and a continual focus on managing the cost base as business activity recovers has improved NZME’s ongoing Capital Management performance and has supported the continued strengthening of NZME’s Balance Sheet,” said NZME Chairman Barbara Chapman.

NZME today announced that given the significant reduction in debt and based on the business outlook and NZME’s capital requirements the NZME board has declared a fully imputed and fully franked dividend of 3.0 cps.

Please see the links below for details

NZME 2021 Half Year Results - Cover Note

NZME 2021 Half Year Results NZX Form

NZME 2021 Half Year Results Announcement

NZME 2021 Half Year Results Presentation

NZME 2021 Consolidated Interim Financial Statements

Distribution Notice - NZX Form

Source: NZME Limited

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

New Zealand Rural Land Company Limited (NZX: NZL) Agreement to acquire large scale dairy asset portfolio
EROAD Limited (NZX: ERD) launches Clarity Solo Dashcam
22nd October 2021 Morning Report
Pictor ready to roll out game-changing COVID antibody test in New Zealand
Scott Technology Limited (NZX: SCT) Announces FY21 Results
21st October 2021 Morning Report
Greenfern Industries Limited (NZX: GFI) L&Q Notice
TruScreen Group Limited (NZX: TRU) Clinical Trial Results Highlight Efficacy of TRU Technology
20th October 2021 Morning Report
Freightways Limited (NZX: FRE) Acquisition of ProducePronto