NZSE:NZXCapital Markets
NZX (NZSE:NZX) Can Profit Growth Justify Its Premium P/E?
NZX walked into this result priced for perfection, with the stock near NZ$1.54 after a solid 12 month run, and the market already treating it as a premium exchange and funds platform on a rich P/E. The earnings print did not blow the doors off, but it reinforced the one story that matters most right now. Revenue in the first half reached NZ$76.6m and net profit after tax came in at NZ$9.8m, both up on last year, which puts the spotlight firmly on whether this profitability trend is strong...