Well I am looking forward to ?years time when it will be trading at 2 or 3 times NTA.
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Well done HNZ>
Financial target met.
Guidance achieved.
Balance sheet strengthened.
2nd half profit of $14.7mil means they are going forward nicely.
Guidance and dividend policy to be announced at AGM.
More than I hoped for,so I very pleased.
Exceeds expectations and beats the brokers consensus by a mile.Looks like they're well on the way to becoming a Bank.
Heartland New Zealand Limited (Heartland) (NZX : HNZ) today announced a net profit after tax (NPAT) of $23.6m for the full year ended 30 June 2012, up $16.5m from $7.1m for the previous year ended 30 June 2011
Received 2 emails looks like they've revised their $23.6 m to $24.2 M.
Take out the one-off tax credit of 9.6m and it is fairly skinny for a finance company return on assets.
To say the impaired et al ratio will improve due the total book size growing is laughable - in $'s that number is sticky, as is 'investment property'
Not impressed, but no doubt the blue-eyed brigade will take it higher and assist the recent new entrants to exit at a nice profit
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Not impressed, but no doubt the blue-eyed brigade will take it higher and assist the recent new entrants to exit at a nice profit
You cynic and heathen zerof ......percy won't be buying you a drink next time you catch up
Of course it is a great result ....... 2 times NTA by Xmas
As I read the note at the bottom of page 31, it seems they are expecting to claim the entire $28.5m of losses that is the maximum they can claim from RECL (PGC) at the end of the 5 year period (in 2016).
Zerof what you make of the HNZ cash flow statement - cash received from operating $224m less cash applied to operating activities $227m .......gives negative $3m and no tax paid in the outgoings
Might have to delve deeper .....this was just the first glance at the accounts .....cash flow always the first stop .....rest can often be bull****
Good presentation though