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Script Sense: the minnow battling the whale
Fiona Rotherham
Sat, 28 Feb 2026
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EARNINGS
Fri 27 Feb 2026 09:15:28pm
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Fri 27 Feb 2026 09:15:28pm
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NZ Rural Land Co focuses on dividend payout
Farmland investor NZ Rural Land Co has boosted its dividend after a capital review found investors were mainly interested in its cash yield.
Announcing its results for the year to December, the company declared a final dividend of 2.75c a share, up 8% on a year earlier. The payout takes the full-year total to 4.91c, representing 90.5% of adjusted funds from operations (affo).
In February, Rural Land Co said it had revised its dividend policy to 90-100% of affo, up from 60-90% previously, following a capital review by KPMG.
Affo for the year was $7.9 million or 5.43c a share, up from 4.94c in 2024.
Net profit of $7.9m was down from $24.9m, with the previous year’s result mainly driven by asset revaluations.
The company said its board had revised its strategy to position itself as a “specialist yield vehicle focused on delivering consistent and growing dividends”, with dividends paid quarterly.
Sales leap 92% for medicinal cannabis firm Rua Bioscience
NZX-listed medicinal cannabis company Rua Bioscience has boosted sales revenue by 92% to $1.33m for the first half of FY26. However, its net loss only marginally improved to $1.79m compared with $1.8m in the prior corresponding period due to financing costs of inventory, staff non-cash share allocation costs, and stock adjustments.
Rua netted $2m from its capital raise late last year, which saw Chinese investor Jun Chu gain a substantial 7.92% holding.
CEO Paul Naske said the Māori-owned company remained steadfast in delivery of its differentiated strategy, with a focus on delivering revenue growth across five markets – Germany, Australia, New Zealand, the Czech Republic and the UK.
While Germany remains the world’s largest cannabis market, Naske said H1 sales had reduced there because of a regulatory review of medicinal cannabis regulations.
No full-year guidance was given with today’s results, though the board has previously forecast revenue to exceed $3m by the end of FY26.
Record kiwifruit harvest leads to top profitability for Seeka
A highest-ever 47.1 million trays of kiwifruit has bolstered Seeka's earnings.
Profit after tax was $32m for the 12 months to December 31, compared to 2024's reported profit of $8.8m (which was normalised to $21.2m due to a one-off tax expense).
Revenue increased 7% to $440m from $411m, and earnings before interest, tax, depreciation and amortisation rose 26% to $96m.
Meanwhile, net debt reduced by $37m to $100m.
Seeka chief executive Michael Franks was pleased with the results. "From a focused strategy, and the efforts of many, we achieved record profitability and financial resilience was rebuilt into the balance sheet."
A dividend of 25 cents a share would be paid on April 15.
Net loss narrows at Move Logistics
Listed transport firm Move Logistics has narrowed its half-year loss but also reported weaker revenue because of ongoing tricky market conditions.
Its loss in the six months to December was $907,000, compared with a loss of $8.9 million in the previous period.
Revenue fell about 5% to $141.4m, blamed on weak conditions for customer activity and demand.
Chief executive Paul Millward said warehousing showed “gradual improvement” amid a turnaround plan and market challenges.
Broadly, he said Move was nearing the end of a ‘reset’ phase of its business strategy and moving to ‘step up’, with a focus on winning market share and creating value.
Meanwhile, Move has agreed to terms for a new invoice finance facility of up to $22m with BNZ, to support its working capital requirements.
Move warned there were risks about the rate and speed of the economic recovery and it was focused on cost control, working capital management, sales growth, and expanding its customer base.
Vista Group returns to profit after five years
Vista Group International has turned an annual profit of $2.6 million – it’s first since the 2019 financial year – on the back of a 25% increase in software-as-a-service revenue as it transitioned customers to its cloud-based products.
The NZX and ASX-listed cinema software provider saw annual revenue rise 10% year on year to $164.3m, and recurring revenue up 9% to $147.2m.
Earnings grew 31% to $28.2m, while profit improved from a $600,000 loss last year and a $13.6m loss the year prior.
The company is guiding total revenue of $176m to $182m for its 2026 financial year, reflecting 10% to 13% growth on a constant currency basis. It also predicted an ebitda margin of 18% to 20%.
Vista CEO Stuart Dickinson said cient demand for Vista Cloud continued to build, supporting a second consecutive year of record revenue.
“With 35% of our Enterprise Client sites now live on the Vista Cloud Platform, our focus is on scaling delivery capacity to meet the strong ongoing demand."
Hallenstein Glasson expects higher interim profit than last year
NZX-listed fashion retailer Hallenstein Glasson reported group sales for the six months to February 1 of $275.2 million, up 14.6% from $240m in the same period the previous year.
Meanwhile, unaudited net profit before tax was expected to range between $39.3m and $39.8m, up 32% from $29.9m during the previous corresponding period.
The group said its balance sheet remained strong, with well-controlled stock levels.
Hallenstein Glasson is expected to report its interim earnings on March 27.
Jim Grenon buys another $1.15m of NZME shares
NZME director Jim Grenon has further increased his shareholder in the media company, buying another one million shares days after the company reported a $13.1 million net profit after tax for the 2025 financial year.
A disclosure notice posted to the NZX on Friday said Grenon on Thursday acquired the shares on market at a cost of $1.15m, taking his total shareholding to 35,694,802 shares. That represents a total stake of 18.97%.
If Grenon were to increase his position above 20%, it would trigger certain provisions under the Takeovers Act.
The Canadian ex-pat began building a position in NZME towards the end of last year and disclosed a 9% stake in March before launching a bid to have the board sacked and replaced with himself and three other nominees.
A compromise was reached shortly before the annual meeting, which led to him joining the board as a director.
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Fri 27 Feb 2026 09:06:20pm
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