Guidance update

17/12/2025 16:22 NZDT, MKTUPDTEP

At the 2025 Annual Meeting in November, the Company advised the half year to date had been encouraging by starting on a positive note. Regardless, what looked to be an improving market would still need to play out one way or other in the remaining months of the first half of the financial year to 31 December.

While it was then too early to make a prediction or provide an update that carried certainty, the Company noted there did appear to be ‘green shoots’ emerging.

The trading results for November continued the positive trend and nothing has emerged to counter what will therefore be an improved half year result when matched with the previous comparative six months to 31 December 2024.

Consequently, the trading profit before tax for the six months to 31 December 2025 is anticipated to be at least 20% ahead. It remains to be seen whether the market will continue to improve or merely replicate a better second half to 30 June, as happened in 2025.