Yovich & Co Blog

Yovich & Co. Weekly Update - 28 May 2012

Argosy Property Limited (ARG.nz) has achieved a net distributable income of $33.4 million which, despite the sale of 15 properties during the year, is comparable to the previous year’s $33.5 million. The successful internalisation of the management contract in August 2011 delivered significant savings. They declared a 6 cent dividend for the year and guidance for a similar level in 2013. That equates to a Gross Yield of 9.6%.

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Yovich & Co. Weekly Update - 21 May 2012

Ryman (RYM.nz) announced their annual result with net profit at $121m. This was slightly ahead of expectations and was up 16.6% over the corresponding period. The build rate for new beds has also picked up to 770 beds last year compared to its target of 550 beds. The dividend of 8.4c has also increased from 7.2c last year. The low vacancy is also impressive with on average less than one unit available per village.

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