SPN - South Port

[JAMP]

SPN closing at $1.35 - it kind of defies logic to see this stock hitting 52-week highs a little over 1 week after going xd.

I guess what we are seeing is a combination of the exchange rate swinging favourably, ports being (generally) flavour of the month, and a strong balance sheet.

I think I'll continue to hold for just a little longer.

Regards JAMP
NZX: AIA LPL MCH MVN NZO NZOOD PPG RBD SAN SKL SPN
NZAX: CVT NWFOA SAT
Unlisted: BRK

[Lizard]

Profit upgrade from SPN.

I noticed one smart cookie picked this in the 2011 NZX comp.

Was one of the first four shares I held on the NZX, but hadn't looked cheap when I checked it last. I seem to remember from back when I followed, that there was a wall of wood heading towards the port at some point from the 1980's-1990's forestry plantings. However, also quite exposed to Tiwai Point smelter operations. Seems it also benefits from improved southern agriculture. Maybe worth a closer look at some stage.

[Lizard]

And another good forecast upgrade from SPN. Well done to CJ and robo who picked it in the comp this year.

Still doesn't look "cheap", but yield supports it and a bit more recovery growth might keep it moving in the right direction for a while. I seem to remember that ports did well in the mid-90's coming out of the earlier troubled period, although that is no guarantee of a repeat.

[Lizard]

With final result out, SPN has done well this year. However, the forecast is for 15-20% reduction in tax paid profit for 2012, so may not be much more in it...

[Buffett Jr]

Does anyone hold South Port?

Interested to see why importers/exporters would use South Port as opposed to Lyttleton Port instead? Is South Port a monopoly or a big risk with Rio Tinto's smelter potentially closing in the future?

I came across this company after running a stock screener through google and the financials of the company look quite sound, but unsure about the future of the port.

[axe]

Does anyone hold South Port?

Interested to see why importers/exporters would use South Port as opposed to Lyttleton Port instead? Is South Port a monopoly or a big risk with Rio Tinto's smelter potentially closing in the future?

I came across this company after running a stock screener through google and the financials of the company look quite sound, but unsure about the future of the port.

Do not hold.

They were looking to dairy as playing a big role in growth for south port when milk solids price was high . Lots of dairy conversion happening around southland. Not sure how those conversions will be working out now with current farmgate prices and how that will impact SPN.

[Buffett Jr]

Do not hold.

They were looking to dairy as playing a big role in growth for south port when milk solids price was high . Lots of dairy conversion happening around southland. Not sure how those conversions will be working out now with current farmgate prices and how that will impact SPN.

Yes, seems like a risky little port actually now I look deeper into it. The smelter contract may close in 2 years and by the looks of their latest annual report and media articles I've read over the last few days it would have a huge impact on the southland economy and south port.

[Carpenterjoe]

Yes, seems like a risky little port actually now I look deeper into it. The smelter contract may close in 2 years and by the looks of their latest annual report and media articles I've read over the last few days it would have a huge impact on the southland economy and south port.

Yeah I've got a few, one of my first investments some fifteen years ago,

Things I like,

Very Very tightly held,

Small amount of shares on issues 26mil,
Southland council have about 60-80%
Dividend is nicely increasing
They always clip the ticket
Room for growth, plenty of cheap land,
They don't issue new shares or I haven't been aware of it.
I'm not sure how keen the government are on that extra power becoming available.
I had in my head the smelter only affected import/export by 10%-20%

Things I don't like,

Boring, don't find ports interesting.
I'll never get rich of these guys, steady as she goes.

[blackcap]

SPN closing at $1.35 - it kind of defies logic to see this stock hitting 52-week highs a little over 1 week after going xd.

I guess what we are seeing is a combination of the exchange rate swinging favourably, ports being (generally) flavour of the month, and a strong balance sheet.

I think I'll continue to hold for just a little longer.

Regards JAMP
NZX: AIA LPL MCH MVN NZO NZOOD PPG RBD SAN SKL SPN
NZAX: CVT NWFOA SAT
Unlisted: BRK

Still holding? bid at $6.70 now after profit upgrade this morning! keeps on trucking...http://nzx-prod-s7fsd7f98s.s3-websit...505/279892.pdf

[Sideshow Bob]

Great thread dredge BC!

If you bought at time of the first post on this page, would have returned 408% on share price, plus divvies.