Really positive last week or so
Can’t see why …..maybe just punters getting excited and believing in this huge future infrastructure spend talk …which probably won’t happen to the degree the punters think
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think some of there input costs have improved recently. if so be good for margins looking ahead. im watching these parts in there upcoming result
New growth initiatives account
for 10% of Distribution EBIT and
offer opportunities for growth
and expansion
+ Launch and expansion of
aluminium product range from
March 2023, with demand growing
month on month
+ First full year of enhanced plate
processing service offer, with
EBIT increasing by 70% in a short
period and plans for further
expansion
+ Fasteners NZ (acquired July
2021) continues to outperform,
providing a strong complement to
the Fortress Fasteners brand
+ Kiwi Pipe and Fittings (acquired
August 2022) performing in line
with expectations and geographic
expansion delivering growth
Suppose this is a profit upgrade …or things were not quite as bad as we thought with Normalised EBIT (whatever that is) only down 48% on last year rather than more than 50%
http://nzx-prod-s7fsd7f98s.s3-websit...573/411891.pdf
Relief all round …share price over $1.20 tomorrow I reckon
very nice update.
big cash pile building and specifically mentioned M&A under consideration
"Most helpfully for the RBNZ, construction sector respondents now expect just 2.3% cost inflation over the next three months, the lowest across the five sectors and a sharp fall from the peak of 7.8% in mid-2022," Zollner said.
Reported wage increases versus a year earlier were flat but are trending lower. Average expected wage settlements over the next 12 months fell slightly but appear to be flattening out.
Zollner said the surge in residential construction intentions over the past year had been "startling", but it "ran out of puff this month".
"It nonetheless suggests that dwelling consents and residential construction are about to find a floor."
https://www.interest.co.nz/business/...80%99s-working
Nice and juicy 4c a share coming up again?