After run of good results some companies disappoint
Still, Vista Group International hit a record after delivering strong annual earnings and projecting a sixth year of 20 percent-plus revenue growth.
The S&P/NZX 50 index decreased 21.5 points, or 0.2 percent, to 9,323.13. Within the index, 27 stocks fell, 17 rose, and six were unchanged. Turnover was $137.1 million.
Earnings season continued with a negative tone today. Tourism Holdings fell short of earnings expectations in posting a 23 percent decline in first-half profit and trimming the top end of its guidance for annual earnings. The shares fell 6.7 percent to $4.32, its lowest close since August 2017, on a volume of 377,000, more than twice its 90-day average.
"It wasn't a terrible result, although it was a softer six months," said Mark Lister, head of private wealth research at Craigs Investment Partners. "They sounded upbeat about the full year, but people will believe that when they see it."
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