IFT - Infratil

[artemis]

NZ Bus was formed with the vision that they would be able to shape an innovative and cost-effective public transport infrastructure themselves. The prevalence of the gross-contract model and the PTOM have placed the final nails in that coffin.
GoBus are the number one competitor for every urban transport operator in NZ, given they are an iwi-based business, they enjoy a significant tax advantage over all other operators......

Tranzit has run into union trouble, by proposing to increase the driver hourly rate but chopping lucrative penal rates. Double rates on Sundays, time and a half Saturdays, increased rates for long days. Plus Tranzit will need a lot more bus parking in Welly, which means sourcing land and buildings. Along with building 228 new buses in the next year. The GWRC might be struggling to get its multi million dollar savings at this rate.

Tranzit may well have built these costs into its successful proposal - let's hope so, as GWRC said savings would allow them to increase passenger subsidies.

With GoBus and Tranzit pricing themselves below incumbent NZBus, and a nationwide shortage of bus drivers, sounds like a race to the bottom with NZBus well out of it.

[Jantar]

A reasonable result from IFT: "underlying EBITDAF from continuing operations was $519.5 million up 12.4% from the $462.1 million reported in 2016" but I'm not so sure about the forward guidance being less than this year's result. 10 cps dividend is nice though.

Guidance for FY2018
Underlying EBITDAF $460-$500 million

https://www.nzx.com/companies/IFT/announcements/301333

[JeremyALD]

A reasonable result from IFT: "underlying EBITDAF from continuing operations was $519.5 million up 12.4% from the $462.1 million reported in 2016" but I'm not so sure about the forward guidance being less than this year's result. 10 cps dividend is nice though.

Guidance for FY2018
Underlying EBITDAF $460-$500 million

https://www.nzx.com/companies/IFT/announcements/301333

I thought the same thing, although they said they remain positive of future dividend growth next year despite a weaker financial performance?

[couta1]

I thought the same thing, although they said they remain positive of future dividend growth next year despite a weaker financial performance?

Probably just being conservative, plenty of scope for growth from their newish ventures, nice divvy, just as good as the upcoming one from Air(10c expected) my XOS parcel may have another X added on any SP weakness between now and the Ex date.

[JeremyALD]

Probably just being conservative, plenty of scope for growth from their newish ventures, nice divvy, just as good as the upcoming one from Air(10c expected) my XOS parcel may have another X added on any SP weakness between now and the Ex date.

Yeah I'm with you in this one Couta. Good long term hold in my book.

[couta1]

Yeah I'm with you in this one Couta. Good long term hold in my book.

Nothing like a nice winter divvy to warm ones heart aye.PS-I reckon this is one of the few truly defensive stocks on the NZX.

[see weed]

Nothing like a nice winter divvy to warm ones heart aye.PS-I reckon this is one of the few truly defensive stocks on the NZX.

Good aye. Thinking of getting a new roof with div....but am going to top up with another 7000 before days end.

[see weed]

Good aye. Thinking of getting a new roof with div....but am going to top up with another 7000 before days end.

Talk about the quick and the dead... you better hurry, they going out the door slow.

[couta1]

Talk about the quick and the dead... you better hurry, they going out the door slow.

Big down day for any company to put out their result, could be more than one, all depends on the Trumpet. PS-This company is keeping me in the blue overall, unlike SUM others.

[Bjauck]

A reasonable result from IFT: "underlying EBITDAF from continuing operations was $519.5 million up 12.4% from the $462.1 million reported in 2016" but I'm not so sure about the forward guidance being less than this year's result. 10 cps dividend is nice though.
...

No special div this year with MET proceeds going towards debt reduction (post balance date). I wonder what they will do with their investment war chest of $631m (including bank facilities.)