Said earlier should be good margin in this for both fuelled and Heartland .....SME might get his money the net day but it costs him heaps.
And if the debt goes bad ........
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Half Year Results are out!
https://www.nzx.com/files/attachments/253359.pdf
I'll summarize it in 2 words for you all to save you the time reading: Excellent Result
For what it's worth, ahead of Forsyth forecasts as well
I also hear they are getting quite a few UDC customers...
I'm expecting a strong 2nd half, with profit above $60m for the year
You can't argue with a good solid result like that.
14% profit growth through strong organic growth across all divisions is a very sound increase on last year.
Net interest margin remains very high at 4.44% compared to 4.52% in pcp
Very nice touch for shareholders to be able to subscribe for new shares under the share purchase plan at the same price as the institutions did in December ($1.46), notwithstanding SP growth since then and an extra nice touch that the size of the SPP pool has been expanded from $10m to $20m again matching the terms of the institutional placement.
To be honest I am slightly disappointed that the interim dividend of 3.5 cps wasn't increased in line with profit growth. 4 cps would have been nice and would have reflected the 14% growth in EPS but who can be bothered quibbling over half a cent per share in dividend considering the solid organic growth the company is achieving.
Agreed...would have been nice to have had a wee bit more on the dividend side of things. Maybe that will come with the final.
What is nice is that our new shares which will not cost more than $1.46 will be eligible for the 3.5c dividend.
Unfortunately I think I am going to have to sell some that I have at some stage....as they are getting to be to big a proportion of my portfolio.
I guess this is a good problem.
Cheers all
RTM
Regarding the SPP, and I'm only wanting to hear fellow investors opinions,but would you not be a bit ticked off if you had say 500,000 shares and you could still only apply for $15,000 worth compared to myself with only 30,000 and effectively(if I obtained the full $15,00 worth) increasing my shareholding by a third at a very good price. That would drop my average purchase price nicely.But for someone with a much larger holding, only a smidgeon.
Don't forget that institutional investors got already a free pick ...ahead of anybody else. I am sure they are quite happy with us getting some crumbs as well. I don't think anybody should expect to get the full $15k allocation ... even after the increase of the pool there will be very heavy scaling.