Channel Infrastructure NZ slips on bleak FY results, outlook

Channel Infrastructure NZ

27/02/2025 03:13

** Shares of Channel Infrastructure NZ CHI.NZ fall 1% to NZ$1.94

** Stock falls as much as 3.1% to NZ$1.9, its largest intraday pct fall since late December 2024

** Oil and gas transportation service provider logs net profit of NZ$13.9 mln ($7.91 mln) for fiscal 2024, down 42% from last year

** Also sees EBITDA from continuing operations in range of NZ$89 mln to NZ$94 mln for FY25 vs NZ$95.1 mln in FY24

** More than 414,000 shares change hands vs 30-day avg volume of around 323,000 shares

** Stock up 3.7% YTD, including current session's moves

($1 = 1.7581 New Zealand dollars)

 (Reporting by Nikita Maria Jino in Bengaluru)

 ((Nikita.Jino@thomsonreuters.com;))