What are these guys thinking??? Suggesting a FY21 NPAT of $65 million when heartland has already generated $30 million in first 4 months and describes there $83-$85 million NPAT as conservative already. (and that doesn't include positive NPAT impact from harmony IPO)
I think its well worth highlighting that HGH directors said yesterday they are ostensibly seeing no utilization of the Covid provisioning already provided for in FY20.
Forbar seem to have painted themselves into something of a corner here with their previous glum view and appear to be desperately trying to save face by doing a very slight upgrade to their forecast but at the same time reiterating their view that Covid provisioning is grossly inadequate. This seems incongruous with vaccine developments in recent weeks and the prospects of an economic recovery off the back of widespread vaccinations and reduced covid effect in early - mid 2021. I note for example a business confidence survey out yesterday saying business confidence had improved to the best level since Labour first got elected in 2017. That's an important lead indicator for how business's are feeling.
Who do you believe ? HGH directors working at the coal face of the business or Forbar's analyst who quickly and just to a minor extent tweaked their previously held glum view ?
My money is firmly on HGH directors with this one. I am on the same page as the Snow Leopard...should that worry me
Last edited by Beagle; 01-12-2020 at 12:09 PM.
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
if your desperate and behind in your car payments you can either move to Aussi with a 2000 dollar incentive or pick kiwi fruit for a 1000 dollar incentive...
that should help anyone defaulting on there loans.
they are paying the locals to bring in the harvest... anyone thinking paintings of the harvest under the court of urbino, Count Montefeltro.
What are these guys thinking??? Suggesting a FY21 NPAT of $65 million when heartland has already generated $30 million in first 4 months and describes there $83-$85 million NPAT as conservative already. (and that doesn't include positive NPAT impact from harmony IPO)
What are these guys thinking??? Suggesting a FY21 NPAT of $65 million when heartland has already generated $30 million in first 4 months and describes there $83-$85 million NPAT as conservative already. (and that doesn't include positive NPAT impact from harmony IPO)
if your desperate and behind in your car payments you can either move to Aussi with a 2000 dollar incentive or pick kiwi fruit for a 1000 dollar incentive...
that should help anyone defaulting on there loans.
they are paying the locals to bring in the harvest... anyone thinking paintings of the harvest under the court of urbino, Count Montefeltro.
It was clear in the report yesterday that many of the loans that we were most worried about earlier in the year, cars and small businesses for example, did exactly the opposite of what we feared and have been repaid faster than what was expected. Much of it due to businesses taking advantage of interest free Government loans to pay up interest bearing loans with Heartland. This and the fact that they are limited in the dividends they can pay out, has left Heartland's coffers overflowing with cash.
It was clear in the report yesterday that many of the loans that we were most worried about earlier in the year, cars and small businesses for example, did exactly the opposite of what we feared and have been repaid faster than what was expected. Much of it due to businesses taking advantage of interest free Government loans to pay up interest bearing loans with Heartland. This and the fact that they are limited in the dividends they can pay out, has left Heartland's coffers overflowing with cash.
Recall this also from the Turners report..... "The division’s focus on high quality borrowers has seen record low levels of arrears reflecting the risk-pricing strategy over recent years". Hopefully Heartland are also seeing the same responsibility of borrowers,
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Originally Posted by LaserEyeKiwi
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