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Investment company Infratil has increased its earnings guidance for the year to March 2027 citing higher earnings ahead for its 49.7%-owned datacentre developer CDC.
In a statement to the NZX, Infratil said it was now projecting earnings before interest, tax, depreciation, amortisation and financial instruments of $1.32-$1.42 billion, up from $1.3-$1.4b previously.
Infratil said the upgrade was based on an increase in FY2027 earnings guidance from CDC.
“CDC Data Centres in Australasia and Kao Data in the UK are both experiencing strong demand for computing capacity, while Longroad Energy in the United States is also benefitting from AI demand for power,” said Infratil chief executive Jason Boyes.
Infratil said it was presenting to analysts in Sydney covering its portfolio companies CDC, Longroad and One New Zealand on Wednesday.
Briscoe Group sales rose 0.8% to $374.2 million for the six months to July 26.
Meanwhile, net profit after tax fell 5.9% to $27.6m.
Briscoe Group managing director Rod Duke said delivering record first-half sales, alongside a third consecutive quarter of sales growth was particularly encouraging given the continued caution in household discretionary spending.
The directors declared a dividend of 10 cents a share.
Sporting goods sales rose by $3.6m to $145.1m, while homewares sales decreased by $0.7m to $229.1m.
Sporting good sales benefited from international events such as the Fifa World Cup, as well as interest in Auckland FC, the Warriors, and All Blacks, during the period. Meanwhile, homewares trading was more subdued and heating product sales were dampened by a mild start to winter.
The new North Island distribution centre is now operational but work continues to work on the automation systems.