Yovich & Co Blog

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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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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Yovich & Co. Weekly Update - 11 June 2012

Nuplex Industries (NPX.nz) issued a market update, giving guidance for earnings of $131 million. Despite being at the lower end of previous updates, the market has reacted well with confirmation that the company is still relatively on target. The following quote outlines the strength and diversity of the business. “Our (Nuplex’s) geographic and product segment diversity has helped reduce the impact of the volatility and weakness of global markets on our earnings”.

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Yovich & Co. Weekly Update - 4 June 2012

Mainfreight (MFT.nz) announced impressive annual growth and record sales last year with net profit of $80.5 million. Gearing of the business has doubled over the past year to fund the purchase of the European Wim Bosman business which has underperformed but expectations for this business are still positive in a challenging environment. The Final dividend has been increased to 14c compared to 11c last year.

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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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