Yovich & Co. Market Update - 20 February 2018

Feb 20, 2018 | Commentary

This Weeks Announcements

Auckland Airport tax paid profit for December half year is up 17% at $165.9m. The interim dividend payable 5 April is 10.75c fully imputed.  Current price $6.48.   Dividend yield 4.55%. 

Briscoes annual sales at $603m are over $600m for first time. Profit will be up 7.6% at 61m.  Current price $3.51.  Dividend yield 7.3%. 

Z Energy’s third quarter was negatively impacted by an unexpected series of disruptions to fuel supply in December and a sustained rise in crude oil prices since 30 September. Earnings guidance for the year is expected to now be in the range of $430m - $455m compared with the previous year.  Current price $7.01.  Dividend yield 6%. 

Michael Hill December half year result is expected to be $A15m compared to $A40m last year due to approximately $A20m write offs from US and Emma & Roe store closures. 

Skellerup increased their December half year profit by 31% at $11.7m due to great performance from its industrial unit.  Current price $1.86.   Dividend yield 7.45%. 

Cavalier reported a $1m profit for December half compared with $31,000 last year after restructuring to reduce costs. 

Kathmandu expects a 20% increase in first half profit at $12m. Current price $2.32. Dividend yield 7.78%. 

Oceania Healthcare net profit after tax increased by $20.5m (93%) to $42.5m for the September half year and it is paying an interim dividend of 2.1 cents. National Australia Bank is one of the best Australian banks. At the current price of $A29.22 it generates a dividend yield of 6.78% which is much better than bank deposit interest rates. It is a financial services group that provides a comprehensive and integrated range of banking financial services including wealth management throughout Australia, New Zealand, Asia, United Kingdom and USA. It owns the Bank of New Zealand and has recently undertaken significant cost restructuring and productivity improvements, taking a leading view on Australia’s new capital requirements.


 Market Update



Hallenstein sales for February half year were up 19.4% at $146.8m. Tax paid profit will be in the range of $14.75m to $15.25m compared with $9.2m last year.  Current price $4.60.     Dividend yield 9.5%


Disclaimer: This publication has been prepared for your general information. While all care has been taken in the preparation of this publication, no warranty is given as to the accuracy of the information and no responsibility is taken for any errors or omissions. This publication does not constitute financial or insurance product advice. It may not be relevant to individual circumstances. Nothing in this publication is, or should be taken as, an offer, invitation, or recommendation to buy, sell, or retain any investment in or make any deposit with any person. You should seek professional advice before taking any action in relation to the matters dealt within this publication. No part of this publication may be reproduced without prior written permission from our company. Disclosure statements relating to the financial advisers associated with this newsletter are available on request and free of charge.



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Walter Yovich

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