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20-06-2014, 10:57 AM
#3191
Originally Posted by forest
The fact that profit guidance stay the same is a positive, one can assume HNZ has acquisition cost with their new purchase which are getting absorbed most likely in 2014 and 2015 without reducing profit guidance. Then we should be in an even better position.
Right on "the money" Forest.!!!
About my most successful investment has been EBO.Brought in 1991.Famous for not giving profit forecasts.
What is more important is the betterment/improvement of the business.Lay sound foundations and you will grow a great business.
I always look past the figures and judge the strength and health of the business.Their capacity to grow the business.Management achieving what they set out to do.All these line up and you will enjoy both share price growth and increasing dividends.
Heartland are doing these things,well,on time,and with little fuss.My kind of company.!
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22-06-2014, 09:31 AM
#3192
Craigs latest research has Heartland as a hold, with a 12 month price target of $0.93
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22-06-2014, 10:09 AM
#3193
Originally Posted by Sideshow Bob
Craigs latest research has Heartland as a hold, with a 12 month price target of $0.93
Well the report was dated 18th June,so their 12 month target price was reached in under 2 days!!!!![or was it a day?]
Just loved the "The key upside risks include a further upgrade to HNZ's credit rating and stronger than expected recovery of core-loan book."
Interesting?! Looks to me as though Craig's have under estimated "the upside risks"!!!!!!!!!!!!!!!!!!!
Last edited by percy; 22-06-2014 at 11:11 AM.
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26-06-2014, 09:07 AM
#3194
$2.1m down the drain to some dodgy clothing company! http://www.nbr.co.nz/article/aucklan...ns-cs-p-158248
Seriously who lends that much to a retail operation?
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26-06-2014, 09:15 AM
#3195
Originally Posted by Harvey Specter
That's also behind the paywall. What's the basic summary? Cheers
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26-06-2014, 09:44 AM
#3196
Member
The SFO is investigating Catherine's Fashionwear, put into liquidation late last year. The company owes Heartland Bank $2.1 million and ANZ Bank $28,966, DC & CC Trustees $400,000, and unsecured creditors $61,000. Receivers BDO note there may not be enough money to pay back preferential and unsecured creditors.
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26-06-2014, 09:50 AM
#3197
Originally Posted by Longhaul
The SFO is investigating Catherine's Fashionwear, put into liquidation late last year. The company owes Heartland Bank $2.1 million and ANZ Bank $28,966, DC & CC Trustees $400,000, and unsecured creditors $61,000. Receivers BDO note there may not be enough money to pay back preferential and unsecured creditors.
Thanks. Bugger.
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26-06-2014, 10:10 AM
#3198
I can't help wondering what HNZ are doing lending money to a "fashion" business without adequate security...
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26-06-2014, 10:31 AM
#3199
No worries - this will be a legacy issue
They run a tighter ship now - Jeff has seen to that
Been broke for a while so no doubt fully provided for anyway. No impact on profits going forward, aleady allowed for forecasts, Phew for that
Was it part of the dodgy loan book that might bring HNZ down?
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26-06-2014, 10:59 AM
#3200
Originally Posted by Longhaul
The SFO is investigating Catherine's Fashionwear, put into liquidation late last year. The company owes Heartland Bank $2.1 million and ANZ Bank $28,966, DC & CC Trustees $400,000, and unsecured creditors $61,000. Receivers BDO note there may not be enough money to pay back preferential and unsecured creditors.
As the woman has been broke before I doubt she has left any "assets" for creditors.
I can only hope Heartland had good personnel assets, and guarantees in place..I would have thought Heartland would have required more security than a fashion retailer's business assets.Well,I hope so.! When I had a retail business I had to put my house up for "extra" security.
Part of the business risk of being a finance company/bank.If people don't repay their loans you go broke too.!
Last edited by percy; 26-06-2014 at 11:03 AM.
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