HGH - Heartland Group Holdings

[winner69]

Less than $1.10

You getting your way you guru

Backing the truck up are we?

[blackcap]

You getting your way you guru

Backing the truck up are we?

Is this causing some worries?

http://www.nzherald.co.nz/business/n...ectid=11588025

[Raz]

For me it was the main reason I got out last year..plus the regular details/stories of 80% LV @ 8% interest deals for marginal sharemilkers....

[winner69]

For me it was the main reason I got out last year..plus the regular details/stories of 80% LV @ 8% interest deals for marginal sharemilkers....

Now that's what I call buying business

The marginals must be repaying when due though as bad debt provisioning is very low.

[Raz]

Well we will see..just not with my money on the line with that one. IMHO that is crazy lending.

The point for me in the current environment is what would it do to the share price if we start getting share milker human interest stories from only one point of view....hitting the press with any particular funders name associated... The media negative side of Dairy is just starting...

[Snoopy]

Well we will see..just not with my money on the line with that one. IMHO that is crazy lending.

Heartland Bank
	Annual Impaired Asset Expense (A)	Total Impaired Asset Provision (B)	(A)/(B)	Net Receivables (impairment included)	(B)/(C)	EBT (before impaired asset exposure)	(A)/(D)
2012	$5.642m	$27.426m	21%	$2,105.702m	1.3%	$29.337m	19%
2013	$22.527m	$50.491m	45%	$2,060.867m	2.4%	$36.540	62%
2014	$5.895m	$16.381m	36%	$2,623.767m	0.6%	$57.416m	10%
2015	$12.105m	$25.412m	48%	$2,887.482m	0.9%	$76.304m	16%

SNOOPY

[winner69]

	Annual Impaired Asset Expense (A)	Total Impaired Asset Provision (B)	Net Receivables (impairment included)	(B)/(C)
2012	$5.642m	$27.426m	$2,105.702m	1.3%
2013	$22.527m	$50.491m	$2,060.867m	2.4%
2014	$5.895m	$16.381m	$2,623.767m	0.6%
2015	$12.105m	$25.412m	$2,887.482m	0.9%

SNOOPY

Obviously only do high quality lending

[Sideshow Bob]

Obviously only do high quality lending

Or the brown cow stuff has yet to hit the fan......

[Raz]

Or the brown cow stuff has yet to hit the fan......

That is my thinking, given all the attempts to buy business I have heard about in the past few years. Although I have no idea what their uptake on these offers actually has been.

When it comes to impairment what I realise it is the hardest part of a balance sheet to assess, if you have actually tried to do the process in real life you will realise how inherently subjective those figures possibly are, inherently difficult for the auditors to assess and equally for upper management as those lower in the tree can be resistant to making objective assessments, to close to it or scared to convey what they know until it is beyond any doubt. It always seemed to be a lag indicator when I audited financials, more likely to be understated. However looking where we are in the economic cycle where would you expect the provision to be going as a trend in a transparent process...

[K1W1G0LD]

Good to see a reversal Now the Lemmings and nervous nellie's have moved all their funds back into bonds or savings or wherever.