NZX Weekly Earnings Review — 1 August 2026

The NZX saw 14 earnings results and one guidance update land this week, out of 141 total announcements, though the vast majority were procedural AGM notices, governance disclosures and quarterly activity reports rather than substantive profit results. The standout figures came from AFI, which posted a modest lift in annual profit, and TAH, whose Q1 numbers showed double-digit revenue and profit growth. Sentiment across the week was broadly neutral-to-positive, with no results flagged negative, though several of the week's largest share price moves were driven by exploration updates and capital raisings rather than earnings.

Australian Foundation Investment Company (AFI)

AFIC reported full-year net profit of $293.5 million, up 3.0% on the prior year, with revenue from operating activities rising 1.2% to $331.9 million. The result was underpinned by higher dividends and distributions received across the investment portfolio, along with increased trading gains. The listed investment company maintained its total dividend at 31.5 cents per share, fully franked, including a 2.5 cent special dividend consistent with FY2025. Earnings per share came in at 23.42 cents. One point worth noting: the portfolio's total return of 0.9% (gross, including franking) lagged the S&P/ASX 200 Gross Accumulation Index's 7.2% return over the same period, a gap that recent coverage has flagged as a point of scrutiny even as AFIC's net tangible asset backing rose to $7.93 per share before tax. The company's low-cost structure remains a feature, with its management expense ratio improving to 0.14% from 0.16% a year earlier.

Third Age Health Services (TAH)

Third Age Health delivered a strong Q1 FY27, with group revenue up 20.9% year-on-year to $6.08 million, driven by a 33.2% jump in aged residential care (ARC) revenue as the company expanded its facility count 37.8% to 124 sites. NPATA rose 36.3% to $1.03 million, up 12.4% on the prior quarter, while EBIT margin expanded 2.5 percentage points to 24.1%, pointing to improving operating leverage as the business scales. The quarterly dividend was held at 4.00 cents per share, fully imputed. Shares sit at $4.47, down 1.1% over the week, a move that looks modest set against a recent simplywall.st piece noting a 31% share price dive in the stock that it suggested "requires some scrutiny" — a reminder that the market has been volatile around this name even as the underlying metrics head in the right direction.

Santana Minerals (SMI)

Santana Minerals, still pre-revenue, closed its June quarter with A$188.3 million in cash following completion of an A$130 million equity placement, giving the company roughly 16 quarters of runway at current spend as it advances the Bendigo-Ophir Gold Project. The fast-track consenting process has moved into consent-conditions workshopping ahead of a statutory decision date of 16 December 2026, while the Overseas Investment Office approved the purchase of 3,680 hectares of freehold land, buying back landowner royalties in a move that should improve project economics. Exploration also extended mineralisation at the RAS and CIT deposits. Shares rose 13.7% over the week to $0.58, among the strongest movers on the exchange, though recent reporting has also flagged consent-timing concerns following a sharp single-day price drop earlier in the year — a reminder that the path to production still carries regulatory risk.

Ryman Healthcare (RYM)

Ryman's announcements this week were governance and sustainability-focused rather than financial: all four resolutions passed at its Annual Shareholders Meeting, and the company reported a 30% reduction in Scope 1 and 2 emissions in its FY26 climate disclosures, aided by a newly commissioned solar farm in Northland. No earnings figures were disclosed. Shares fell 4.9% over the week to $2.14, coinciding with the launch of a NZ$100 million six-year retail bond offer reported by Yahoo Finance, and following a Q4 trading update that commentators have suggested will shape expectations for the full-year result.

Oceania Healthcare (OCA)

Oceania's AGM produced no financial results, but was notable for a shareholder-proposed resolution calling for an independent strategic review — aimed at addressing the stock's persistent discount to net tangible asset backing — which was defeated, with 86.85% of votes cast against it. Directors Elizabeth Coutts and Sarah Ottrey were re-elected with strong support. Shares were little changed over the week, down 1.3% to $0.755, even as recent coverage points to the aged care sector benefiting from broader New Zealand demographic tailwinds.

AFT Pharmaceuticals (AFT)

AFT's AGM resolutions passed with near-unanimous support, but carried no financial disclosures. The shares were nonetheless among the week's best performers, up 12.6% to $4.81, against a backdrop of reports that Pitt St Research has initiated coverage on the company, expanding analyst visibility for the pharmaceutical group, alongside news of its chair's upcoming retirement.

EROAD (ERD)

EROAD's update this week was its FY26 Sustainability Report rather than a financial result, showing gross emissions down 58% against its FY23 base year. Revenue for the period was broadly flat, up 0.4% to $195.2 million. Shares eased 1.0% to $1.00 over the week; recent headlines have referenced a flagged impairment of up to NZ$150 million, a factor likely to weigh more heavily on sentiment once the full financial result is released.

Manuka Resources (MKR), Minerals Exploration (MEX), New Talisman Gold Mines (NTL), Tāiko Critical Minerals (TCM)

A cluster of small-cap resource companies reported quarterly activities rather than earnings. Manuka Resources held A$7.8 million cash at quarter end after an A$9.5 million operating outflow, with its Wonawinta plant restart targeted for mid-August; shares fell 9.5% to $0.095 over the week. Minerals Exploration reported high-grade rock chip assays at its Waitekauri project with A$2.85 million cash on hand, shares flat at $0.082. New Talisman Gold Mines remains pre-revenue, with cash down to NZ$871,392 after a NZ$480,236 quarterly outflow; shares were unchanged at $0.011. Tāiko Critical Minerals ended the quarter with just NZ$0.5 million cash but has since raised NZ$7 million via placement, with a further NZ$3 million share purchase plan underway to fund its Barrytown project; shares rose 1.8% to $0.29.

Trading Updates & Guidance

Black Pearl Group (BPG)

Black Pearl Group's Q1 FY27 trading update showed annual recurring revenue of $27.2 million, up sharply from a small base a year earlier. The company introduced new EBITDAF guidance, targeting a narrowing of losses from $4.5 million in Q1 to between $1.0 million and $1.5 million by Q3 FY27, alongside the launch of a new Platform-as-a-Service offering. Shares fell 9.2% over the week to $0.445, suggesting the market remains cautious on the path to profitability despite the revenue growth and efficiency claims made for its Pearl Engine technology.

Top Movers

Weekly Price Movers

Notable Shareholder Movements

Several substantial holding notices crossed the wire this week. ACC trimmed its stake in SKT (Sky Network Television) from 10.564% to 9.553%, while lifting its holding in THL (Tourism Holdings) from 8.215% to 9.354% — a mixed signal from the Crown investor across two tourism-adjacent names. State Street disclosed a fresh 5.004% substantial holding in AIA (Auckland International Airport), while UBS increased its stake in GTK (Gentrack) from 4.75% to 5.58%. At the smaller end of the market, Sena & Co further consolidated its already dominant position in 2CC (2 Cheap Cars), lifting its stake from 75.924% to 76.990%.

This week's flow was dominated by AGM season and quarterly activity reports rather than substantive profit announcements, with only a handful of companies — notably AFIC and Third Age Health — providing genuine earnings detail. With Seeka flagging its half-year result for 20 August and a wave of small-cap resource companies continuing to update the market on exploration progress, the coming weeks should bring a fuller picture of how New Zealand-listed companies are tracking into the second half of the year.