25 Feb 2010

Market up as companies announce profits

7:02 pm on 25 February 2010

The benchmark NZX 50 closed up 21 points, or 0.7%, at 3152 on Thursday turnover of $82 million.

Contact Energy gained 25c to $6.14 and Fletcher Building 3c to $8, while Telecom dropped 1c to $2.31.

PGG Wrightson were up 2c to 60c after announcing a profit of $4.1 million in the six months to December, and Port of Tauranga also rose 2c, to $7, after achieving a record profit of $23.1 million in the half-year.

Goodman Fielder, whose $A90m profit in the six months to December was up almost a quarter on the same period last year, were down 8c at $1.90.

Hellaby Holdings gained 7c to $1.55 after announcing a $2.3m profit, compared with a $400,000 profit last year.

Nuplex, up 8c to $3.41, has lifted its full year earnings forecast as prices rise and demand gradually recovers.

The Warehouse is unchanged at $3.75, awhilend Hallenstein Glasson is up 9c to $3.60 and Pumpkin Patch up 7c to $1.97.

In currency markets, the NZ dollar fell against the US dollar and was trading at 68.81 US cents, 77.45 Australian, 44.85 British pence, 61.63 Yen and 0.5107 euro. The TWI was at 64.03.