Nevermind have you got some good investments as well?
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Nevermind have you got some good investments as well?
I'm so so with the Napier Port performance to date. After participating in the IPO I've sat on the investment which hasn't done much. Fairly recently with the share price down in the mid 2.90's I topped up holdings by 20%. This stock I see as a long term play and am happy enough to be getting an imputed dividend yield over 2.5% on my average purchase price while I wait for increased growth and profitability. NPH has a lot going for it longer term and I'll be surprised if expectations are not realised. Time will tell. (I've invested in port companies for a long time. None of the investments have been duds. POT and SPN have done very well. Sold half my SPN to get a stake in MMH which is well up but has an even brighter future in front of it?)
Heard Maersk pulling out of their Napier services....??
NPH dumped from the NZX50
Replaced by a company that does something about truck management and who just reported a half year LOSS
The indignity of it but that’s the way the world works these days.
NPH update: https://www.nzx.com/announcements/390365
Selected quotes:
"For the six months to 31 March 2022, container volumes decreased by 16.6% and bulk cargo volumes decreased by 8.7% compared to the same period a year ago."
"Napier Port now expects to report a result from operating activities for the half year to 31 March 2022 of approximately $16.4 million, which is less than the $21.3 million reported for the first half of the last financial year."
"The fall in cargo volumes over the period follows an escalation in global container-based supply chain and shipping disruptions, ongoing seasonal labour shortages compounded by pandemic-related absences across cargo-owners’ workforces, and adverse local seasonal weather conditions that have impacted primary sector production."
"Assuming a continuation of the current market conditions, Napier Port now expects an underlying result from operating activities for the year to 30 September 2022 to range between $38 million and $42 million."
FYI last year was $43.8m
Less ships, less cargo, less profit.
2022 Half Year Trading Update - NZX, New Zealand’s Exchange
Back to IPO we will be heading. I’ll be surprised if it continues to hold at these prices. It will be a great company longterm, but this longterm thing has been longer than many would have hoped. Covid has put the spanner into lots of companies and this is one of those companies. We might see the light shining nearer 2023-24
I wonder how new wharf is going versus budget?
https://www.napierport.co.nz/our-bus...uture/6-wharf/
Per the updates all 400 piles are now in and the penguins are happy. I would expect there is a fixed price contract with HEB.
HEB were one of the parties involved with Transmission Gully...but we all know that was completed on time and within budget....oops hold on maybe not
probably right on track to further deflate profit & inflate interest + depreciation expense at
the very earliest possible opportunity :)
Got to give it to NPH - they couldn't have got their timing so perfectly planned for a new wharf :)
Let's guess now what the next dividend spit out will likely look like in June - perhaps half of what it was previously ;)
The previous NAPIER PORT June Dividend payout efforts look like this:
June 2020 A Big Fat Screaming Zero - due mostly to reduced cruise ships most might guess
(the dedicated NPH Cruise Manager is bound to confirm this without a doubt) ;)
June 2021 a meagre 2.8 cps (at which time most were left wondering or might have concluded
that Southport - or in fact just about every other Port Company listed looked a better bet)
The way things are headed - Money in the Bank might soon start exceeding % ROI
the NPH offers (if the brave overlook a SP which looks like it might be on a journey
to explore some of the newly driven piers down towards the murky bottom among
any brave fish and sea life :)
Anyone who thinks AIR is a fabulous investment really should not miss out adding NPH
to their list to maintain consistency in their portfolio ;)
Hu<
You forgot the penguins !