As New Zealand faces the most brutal recession in living memory, the battle to preserve the core of the economy deepens. Companies are cancelling dividends to protect what cash they have, others are reaching for financial aid from their banks or the government.
Yet for some businesses, notably the big supermarket chains, the crisis is accelerating their cash flows.
Point of Order has surveyed an array of companies listed on NZX, particularly in several sectors—food production, health and pharmaceutical supplies, transport, agriculture services— which have issued updates. These should provide comfort to their shareholders, and the market generally.
Latest to do so is King Salmon, the world’s largest aquaculture producer of the premium King salmon species. Employing 500 people, it operates within the primary industry food producer category which has been included in the government’s list of essential services.
In its update to the NZX, it says : Continue reading “Updates from listed companies bring some economic comfort during the Covid-19 crisis”