Friday 18th February 2011
|Text too small?|
OceanaGold continued its rapid recent rise in early trading after yesterday announcing a 29% gain in revenue for the 2010 calendar year to US$305.6 million (NZ$402.8 million).
Full year net profit for the Melbourne-based company with gold mines in the South Island was down 18.5% to US$44.4 million. Earnings before interest, tax, depreciation, amortisation and excluding unrealised hedge losses was US$139.5 million in 2010, up from US$106.2 million the year before, as a higher average realised gold price was partially offset by lower gold production.
In early trading today OceanaGold (NZX: OGC ) shares were up 8c to $4.08, having risen from $3.41 at the start of the week.
Sky TV (NZX: SKT ) shares gained 9c early to $5.50, after the company reported a 19% rise in half year net profit to $60.3 million, as revenue rose 8% from a year earlier to $398 million.
The company attributed the result to the success of the MY SKY HDi decoder and a rebound in advertising sales.
Around 10.15am the benchmark NZX-50 index was up just 0.01 of a point at 3395.71, having yesterday gaining 11.2 points.
Restaurant Brands (NZX: RBD ) gained 3c early to $2.48, Abano Healthcare (NZX: ABA ) was up 5c to $4.60, while NZ Refining Co (NZX: NZR ) fell 15c to $4.85 on top of a 10c fall yesterday after reporting an improved after tax full year profit of $57.7 million.
In the US, investors piled on a dizzying two-year advance in stocks, using a brief slip on negative economic news as an opportunity to buy into market leaders.
The technology sector showed strength, with Nvidia Corp up 9.8% a day after posting a bullish revenue forecast as sales of its processors accelerate.
On preliminary data, the Dow Jones industrial average was up 0.2% to 12,318, the Standard & Poor's 500 Index was up 0.3% at 1340, and the Nasdaq Composite Index was up 0.2% at 2832.
No comments yet
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