Yovich & Co Blog


Yovich & Co. Weekly Update - 6 August 2012

TrustPower (TPW.nz) announced their first quarter result last week with a slight drop in sales and production compared to the corresponding period last year. The small reduction in performance is not surprising considering the strong growth that TPW has delivered with 10 consecutive years of increasing profits. TPW is currently raising cash through a subordinated bond offer to replace existing debt facilities. The indicative coupon rate is between 6.75 & 7% with payments made quarterly. The term is 7 years with a maturity date of 15 September 2019. Applications need to be received before 11 September 2012.

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Tags: weekly update investment shares bonds market commentary trustpower tpw tpw.nz fletcher building fbu fbu.nz bathurst bathurst resources limited btu


Yovich & Co. Weekly Update - 30 July 2012

Goodman Fielder (GFF.nz) provided an update on trading conditions and warned of more write downs. Total write downs could equal A$200 million and relate to a cash impairment charge against the baking and home ingredients division and other businesses under review. They also reaffirmed earrings guidance of between A$230-A$245 million and announced that they had completed the first stage of costs cutting measures.

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Tags: weekly update investment shares bonds market commentary goodman fielder gff gff.nz mainfreight mft mft.nz comvita cvt.nz cvt atlas iron ago ago.asx


Yovich & Co. Weekly Update - 23 July 2012

Methven (MVN.nz) had their annual meeting last week and announced an increased profit of $6.5 million despite reduced revenue. MVN has reduced their debt levels and with strong cash flow they are confident in continuing to return sustainable dividends to shareholders. The result included a small profit in their Chinese business and they are pursuing a high growth strategy in the region focussing on hotels and large projects.

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Tags: weekly update investment shares bonds market commentary methven mvn mvn.nz might river power mighty river woodside petroleum wpl wpl.asx


Yovich & Co. Weekly Update - 16 July 2012

Z Energy Bond (ZEL030.nz) Z Energy Limited is issuing up to $100 million in new secured senior fixed rate debt obligations. The coupon rate will be set at 6.5% and the bonds will mature on the 15th of November 2019. In our view, this is a fair rate for this type of Bond and for the maturity. The offer opens on the 18th of July with the bonds issued on the 15th of August.

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Tags: weekly update investment shares bonds market commentary z energy z energy bond zel030 zel030.nz telecom corporation of new zealand telecom iluka resources iluka ilu ilu.asx tel tel.nz


Yovich & Co. Weekly Update - 9 July 2012

Summerset Group Holdings (SUM.nz) released a trading update last week outlining a strong first half for sales with 83 new sales and 88 re-sales. First NZ Capital are forecasting profit for the year to be $14.9 million, an increase of 84% compared to last year’s profit of $8.1 million. SUM is proving that they are able to deliver on their growth strategy and is well positioned to benefit form the ageing population demographic.

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Tags: weekly update investment shares bonds market commentary summerset group holdings summerset sum sum.nz fletcher building fletcher fbu fbu.nz new zealand refining nzr nzr.nz


Yovich & Co. Weekly Update - 2 July 2012

It was a slow week for company specific news although the Bank for International Settlements published their annual survey ranking the Australian Banks as the most profitable in the world. This reiterates our view that investing in bank shares is a good way to increase yield.  Dividend yields are forecast over the next few years to be between 6 & 8 percent, while in the U.S. & Europe, bank yields have been 2.5% & 4.5% respectively. Below is a brief summary of the 4 big Banks.

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Tags: shares investment commentary weekly update bonds market anz wbc nab cba


Yovich & Co. Weekly Update - 25 June 2012

APN Media (APN.nz) has acquired an 82% share in brandsExclsuive, an Australian online shopping website for A$36 million. The purchase confirms APN’s strategy to increase their stake in the eCommerce sector and reduce their reliance on news. brandsExclusive is an online club that offers discounts on premium consumer goods and compliments APN’s existing websites such as GrabOne.

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Tags: shares investment commentary weekly update bonds apn apn media renaissance corp rns rns.nz mighty river mighty river power


Yovich & Co. Weekly Update - 18 June 2012

Meridian Energy, likely to be the second in line for partial privatisation, has committed $169 million to a new Wellington wind farm. The 26 turbine development will produce energy at the lower end of the cost scale, comparable with the cost of Geo-thermal energy. Parliament is expected to conclude the third reading of the legislation to give the go ahead to the Asset sales this week.

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Tags: shares investment commentary weekly update bonds meridian energy meridian nuplex npx npx.nz fairfax fxj fxj.asx


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