Napier Port IPO

[Sideshow Bob]

https://www.nzx.com/announcements/431441

Buyback of 0.5% or 175,000 shares.

"The acquired shares will be held as treasury stock upon acquisition intended to be used for the purposes of Napier Port’s employee share ownership plans."

[nztx]

https://www.nzx.com/announcements/431426

HIGHLIGHTS-
- Revenue rose 10.1% to $70.6 million from $64.1 million in the same period last year and was led by significant growth in export log and cruise revenue
- Result from operating activities increased 25.1% to $27.4 million from $21.9 million in the same period last year
- Underlying net profit after tax increased 48.3% to $11.1 million from $7.5 million in the same period a year ago
- Reported net profit after tax increased 64.8% to $14.3 million from $8.7 million in the same period last year
- Post-Cyclone Gabrielle business interruption insurance claim contributes $7.2 million to reported net profit
- Container volumes decreased 17.3% on continued post-Cyclone Gabrielle effects and weaker economic activity
- Directors declare a fully imputed interim dividend of 3.0 cents per share, increased from the interim dividend in the prior year of 1.7 cents per share
- Expected underlying result from operating activities for the year to 30 September 2024 of between $50 million and $53 million

forget comparing to 1.7c div previous period - that was after the Cyclone hit a year back.

2.8c Div in previous June 2021 & 2022 distributions is better for comparisons to the 3.0c


Similarly turnover comparisons need to look back a period earlier to remove Cyclone hits.

The gut feeling is that NPH continues to underperform & disappoint.
That is what the market perception via the SP is conveying