Napier Port IPO

[RTM]

Interesting to note how they have also deferred the inland port proposed for Whakatu, and in doing so have forfeited $20M of Shane's provincial growth fund money.

Those rosy forecasts of growth must be failing to materialise.

My observations…

Just been up on top of the hill looking down at new wharf. Had not seen announcement, but thought the wharf looked pretty complete. One ship only in port…logs I think. One at anchor in the bay. Staying close to port, big reduction in number of trucks, especially at night, compared with other visits. Great, get more sleep.

Not idea for holders.
Disc. I am one, albeit small. Yikes.

[nztx]

https://www.stuff.co.nz/business/128...timber-exports

Ukraine-Russia conflict has knock-on effects for timber exports

Logs / Timber are a pretty good portion of Napier's outwards port volumes I believe

[RTM]

https://www.stuff.co.nz/business/128...timber-exports

Ukraine-Russia conflict has knock-on effects for timber exports

Logs / Timber are a pretty good portion of Napier's outwards port volumes I believe

Thanks for posting.
Will affect Tauranga & NorthPort as well. Hopefully overtime those countries switch to NZ Timber.
Some disruption on the way.

[Getty]

My observations…

Just been up on top of the hill looking down at new wharf. Had not seen announcement, but thought the wharf looked pretty complete. One ship only in port…logs I think. One at anchor in the bay. Staying close to port, big reduction in number of trucks, especially at night, compared with other visits. Great, get more sleep.

Not idea for holders.
Disc. I am one, albeit small. Yikes.

22nd of July will be the new wharf opening, which follows on from the last day of Saturday container drop off/pickup 11th June.

Speaking of observation, seeing the number of log trucks and trains going into the Port, it wont be long before there wont be a pine tree left standing in Hawkes Bay...

[nztx]

22nd of July will be the new wharf opening, which follows on from the last day of Saturday container drop off/pickup 11th June.

Speaking of observation, seeing the number of log trucks and trains going into the Port, it wont be long before there wont be a pine tree left standing in Hawkes Bay...

Meanwhile building materials in places in NZ are as scarce as hen's teeth
and some building outfits are under pressure / falling over due to delays & rising
prices all round .. something very badly wrong seeing this play out

[Getty]

Meanwhile building materials in places in NZ are as scarce as hen's teeth
and some building outfits are under pressure / falling over due to delays & rising
prices all round .. something very badly wrong seeing this play out

Yes, the Gib board shortage has put a new angle on the saying, "I like the cut of your jib,"

[nztx]

Interim Result:

https://www.nzx.com/announcements/392514

Underlying net profit after tax was $7.2 million, down 32.1% on the $10.6 million in the same period last year. Reported net profit after tax was down 15% to $9.0 million from $10.6 million in the same period a year ago.

The Board has resolved to pay a fully imputed interim dividend of 2.8 cents per share, unchanged from the interim dividend paid last year.

The record date for dividend entitlement will be 10 June and the payment date will be 23 June.

Napier Port remains well funded. We spent $43.7 million on capital projects in the half year, including $36.9 million on the 6 Wharf project, and ended the half year with drawn bank debt of $120 million. In addition, we have undrawn bank facilities of $60 million.

[Ggcc]

Interim Result:

https://www.nzx.com/announcements/392514

To me in the short term it means downgrade

[nztx]

To me in the short term it means downgrade

Agreed .. may even reach $2.60 IPO Price ?

[Ggcc]

Agreed .. may even reach $2.60 IPO Price ?

At current value including expansion, add inflation and at $2.60 it is still overpriced. I would be keen (maybe dreaming) around $2, but it would be a longterm hold at that price.