HGH - Heartland Group Holdings

[Xerof]

There have been two MARAC finance companies in recent history, just like there were two Lombards

do not confuse the two under each name, (which of course was the direct intent of each of the later entities, in an effort to ride on prior reputations)

just saying......

[mouse]

That's unfortunate for you, but while Marac and it's former parent PGC may have struggled during the GFC (like many companies good and bad), they did not go broke.

Certainly, not under Heartland's tenure.

But my experience tells me that Heartland needs to hang onto capital. Against difficult times. Once it has earned profit then that may be the time to return capital. Otherwise my wallet could become a sieve.

[kizame]

But my experience tells me that Heartland needs to hang onto capital. Against difficult times. Once it has earned profit then that may be the time to return capital. Otherwise my wallet could become a sieve.

Once it has earned profit?
I was under the impression it is quite profitable.

[mouse]

Kizame is right. They made $14.9m in NPAT (adjusted), or 4c a share. Expectations are for around $22.9m in adjusted NPAT or 5.9c a share in earnings, according to ForBarr.

Of course, but they have to keep making a profit. And paying taxes on the profit. Which demonstrates, at least to me, that it is not a profit due to clever accounting, but profit due to sound business. Plus paying dividends on the profit. Dividends so far have been pretty good. Keep them coming please. Heartland needs a track record and they are establishing that very nicely too.

[QOH]

Aren't they going to have to come up with $105 million to pay back the MARAC 010 bonds this July?
Have no idea if that is a positive or negative for the company, they are paying 10.5% interest rate.

[percy]

And Percy 'the fanatic" is forecasting over $30mil for year ended 30/6/2014.

[kizame]

And Percy 'the fanatic" is forecasting over $30mil for year ended 30/6/2014.

Haha I have no quarms with Percy the fanatic,if it wasn't for you being "fanatical" I wouldn't be so well informed on HNZ, thankyou.

Gracias amigo.

[iceman]

So to clarify:

A subsidiary of Heartland went broke, except it didn't.
Heartland need to start making profits, and keep making the profits they are already making.
Heartland also need a track record, but are establishing one.

Ok, I'm cool with that. :-)

Phew, thanks for this summary STC. Have been following this thread for a long time but thought I was losing it this afternoon. I was very happy with Paper Tigers idea of a cash call to fund a buy back, which is a win win situation, and then all this confusion this afternoon !

[Grimy]

Aren't they going to have to come up with $105 million to pay back the MARAC 010 bonds this July?
Have no idea if that is a positive or negative for the company, they are paying 10.5% interest rate.

Yes, I'm going to miss that nice little regular payment.....

[percy]

Aren't they going to have to come up with $105 million to pay back the MARAC 010 bonds this July?
Have no idea if that is a positive or negative for the company, they are paying 10.5% interest rate.

With HNZ now paying between 3 and 5% for deposits, there appears to be a number of avenues available to save a lot of money by replacing this expensive funding.
Wish I had asked about it.!!!