After the well-publicised events of the last week, taxation is shaping up to be a major issue for New Zealanders heading into October’s election. Nonetheless, buried within the hype and commentary surrounding PM Hipkins’ ruling out of capital gains and wealth taxes, there was reference to a much-less publicised event – an upcoming increase in…
Read more
I remember when the new look Companies Act came into force. It turned out that 1993 would be my last year at university, forgoing the opportunity to continue completion of a Law/Commerce double degree in favour of testing my mere B.Com credentials. Even back then, I questioned the value of civil remedy that could only…
Read more
22nd June 2023 On 22 June, our guest speaker was Pip Greenwood , a highly regarded board chair and director. Pip has been Chair of Westpac New Zealand since October 2021. Pip is also Chair of A2 Milk, a director of Fisher and Paykel Healthcare, and a Trustee of the Auckland Writers’ Festival. She has…
Read more
Annual Meeting Report, 19th June 2023 Click here for NZSA Assessment and Voting intentions Metric 2020 2021 2022 Change Operating Revenue $21.5m $20.5m $24.6m 20% Cost of Sales $12.0m $14.0m $16.3m 16% NPAT $3.8m -$.8m $0.8m n/a Gross Profit Margin 44% 31% 34% 7% Inventory Turnover 4.63 3.52 3.62 3% EPS1 $0.018 -$0.004 $0.004 n/a…
Read more
Annual Meeting Report, 29th June 2023 Click here for NZSA Assessment and Voting intentions Metric 2021 2022 2023 Change Operating Revenue $66.4m $89.0m $94.6m 6% Management Fees $24.2m $24.3m $23.3m -4% Gross Profit $46.5m $53.5m 15% NPAT $132.0m $112.3m -$116.7m n/a EPS1 $0.279 $0.208 -$0.215 n/a PE Ratio 9 8 n/a Capitalisation $967m $695m -28%…
Read more
Annual Meeting Report, 28th June 2023 Click here for NZSA Assessment and Voting intentions Metric 2021 2022 2023 Change Property Revenue $182.0m $187.8m $213.8m 14% Fair Value Movement $560.0m $660.4m -$237.7m n/a NPAT $631.7m $748.6m -$135.4m n/a EPS $0.454 $0.536 -$0.096 n/a PE Ratio 5 4 n/a Capitalisation $2,836m $3,074m 8% Debt Equity 0.29 0.32…
Read more
Annual Meeting Report, 28th June 2023 Click here for NZSA Assessment and Voting intentions Metric 2021 2022 2023 Change Rental Income $64.5m $67.9m $71.0m 5% Change in Valuation $139m $91.0m -$185.2m n/a NPAT $161.3m $118.2m -$150.2m n/a EPS $0.446 $0.321 -$0.408 n/a PE Ratio 5 5 n/a Capitalisation $578m $526m -9% Current Ratio 2.58 1.53…
Read more
On 16 May, our guest speaker was Dean Anderson, Founder and CEO of Kernel at the community meeting room of Trust Waikato at Little London Lane in Hamilton. This was the first trial of an afternoon meeting presentation because of the difficulties in reaching the caterer’s minimum numbers to make the evening meetings at the…
Read more
Annual Meeting Report, 28th June 2023 Click here for NZSA Assessment and Voting intentions Metric 2021 2022 (re-stated) 2023 Change Operating Revenue $234m $255.9m $259.1m 1% EBITDA $152m $154.7m $173.6m 12% Fair value gain/loss $99.8m $128m -$353m n/a NPAT $197m $224m -$228m n/a EPS $0.125 $0.143 -$0.145 n/a PE Ratio 10 7 n/a Capitalisation $1.57b…
Read more
Annual Meeting Report, 28th June 2023 Click here for NZSA Assessment and Voting intentions Metric 2021 2022 2023 Change Revenue $16.9m $18.9m $48.0m 154% NPAT -$28.7m -$36.0m -$30.5m n/a EPS -$0.266 -$0.30 -$0.25 n/a PE Ratio n/a n/a n/a Capitalisation $766m $438m $270m -43% Current Ratio 10.20 9.83 8.30 -16% Debt Equity 0.09 0.11 0.12…
Read more
