Retail sales is 19.1%higher than last year..great!
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Retail sales is 19.1%higher than last year..great!
Slide 5 gives you a fair bit of detail
http://nzx-prod-s7fsd7f98s.s3-websit...031/307752.pdf
Would imagine prepaid/wholesale operators are not very present in the SME or corporate sales volumes which explain the bulk of the change
"Electricity Price Review panel delivered its final report and recommendations to the Minister in late May, response is imminent "
From their Investor presentation.
http://nzx-prod-s7fsd7f98s.s3-websit...852/308815.pdf
This might be interesting.
Got my hard copy of the Meridian annual report today.
Picture says a thousand words, front cover has a young boy happily walking his dog along a trail in some native bush somewhere. I think this might be my most economical read of all time. Not sure there's any point in reading any further, cover says it all...and oh, yeah, that's right, just one minor other detail, share price up more than 53% so far this year, (Winner reckons these emoji's are the best)
:t_up: :t_up: :t_up: :t_up: Flew over some of their dams on the way to Queenstown a few weeks ago. I reckon they'll be there still pumping out the megawatts long after I start pushing up daises. People always need power even in a deep recession and they know what happens if they don't pay for it.
But wasn't Meridian fortunate to be allocated the nice renewable electricity producing assets, enabling them to trumpet their virtue marketing-wise! Don't mention that, like the rest of the gentailers, they become dependent on someone else's dirty coal/gas turbines to keep customers happy when the rain doesn't rain and the wind doesn't blow. Not to worry though, wise investors cover all bases by holding a few of them all!
Disc: Holding a few of most of them.
:)
Dog gone it, you're right ! Got those dirty emitters GNE and CEN too :blush:.
Oh wait, what's going on...their share prices have been going gangbusters too :t_up:
Yes power will be used for some years.Just have to worry about all those Aucklanders causing power black outs as they try and charge their electric cars overnight.
I was at Barrington Mall a few weeks ago and ran into an old book supplier,who asked me whether I was nervous about the share market.
I asked him if he thought the Mall could operate without power.,and all the people around us would stop using their phones.
He laughed,as did I.
People need power during recession, but businesses need less. Over exposure to an aluminum smelting business could be a risk to profit during a recession. Also, losing such a contract could be considered a risk to a retirement income based on such a stock. That said, please correct me if im wrong (i don't really follow the power companies), isn't MEL the only one on the nzx with foreign growth interests?
I thought the final report on electricity was quite benign for the power companies, especially Meridian who were by far the most reasonable and abolished the so called prompt payment discounts, (which are nothing but thinly disguised excessive late payment penalties), some time ago.
Big tick for the ESG for Meridian as far as I am concerned as not only are they 100% environmentally friendly they were the first by a long way to recognise the social harm these late payment penalties impose on society, especially on customers least able to afford it and struggling to pay their power bills, and abolished them ages ago at a cost of ~ $5m per annum. Onward and upward. Interest rates to plumb fresh 100 year lows for the foreseeable future in my opinion.
I’ve no idea whether this is good or bad ...but it all looks extremely good
They call it blind investing taking a punt on these sort of companies
http://nzx-prod-s7fsd7f98s.s3-websit...592/309708.pdf