Yovich & Co. Market Update - 30 May 2018

May 30, 2018 | Commentary


Investore Property Ltd March 2018 tax paid profit $46.2m up $27m on forecast. Net asset backing is $1.64 per share. 

Fisher & Paykel Healthcare Corp Ltd tax paid profit for March year is up 12% at 190.2m. 

Evolve Education Group Ltd loss for March year was $4.2m compared with $15.8m profit last year.  This included non-recurring expenses items of $16.2m. 

Arvida Group Ltd tax paid profit for March year was up 7% at $58m. 

Mainfreight Limited tax paid profit for March year is $107.8m compared with $101.5m 2017 year. 

Turners Automotive Group Ltd 2018 tax profit is up 33% at $23.4m. 

Pacific Edge Ltd loss for 2018 year is $19.7m compared with $22.6m last year. 

New Zealand Refining Company Ltd shutdown of 39 days will be extended to about 48 days to carry out some emergent maintenance work which has been identified.  The financial impact will be a reduction of $5-7 million tax paid profit. 

Metro Glass tax paid profit for March year was down $3.1m at $16.3m. 

AWF Madison Group Ltd tax paid profit for March year was down 14% at $5 million.  The revenue was up 8.9% at $279 million. 

NPT Ltd tax paid profit for 31 March year was steady at $3.095m.   Debt ratio is 26.6% and net asset value is 70.6c. 

Green Cross Health Ltd underlying tax paid profit for March year is up 10.9% at $18.7m on revenue of $523m. 

Gentrack Group Ltd tax paid profit for March year up 50.4% at $8.364m on revenue which was up 79.6% at $51.977m. 

Stride Property Ltd tax paid profit for March year is up $59.6m at $95.3m.  Net asset backing is $1.82 per share. 

Orion Health Group Limited operating revenue for March year was $170m and operating losses were $40.4m. The second half of the 2018 financial year was the lowest half yearly operating loss in 4 years. 

ANZ Bank has sold its OnePath Life NZ unit to Cigna Corp for $700m. 

Smartpay Holdings Ltd profit for March year up 15% at $2.524m.

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Walter Yovich

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