Rangatira

[Southern Lad]

The half year profit announcement and dividend announced yesterday was a good step forward. Rangatira_Investments_Half_Year_Result_to_30_Sept_ 2020.pdf (usx.co.nz)

RNG is missing a trading business producing high profit levels (as they had previously with Hellers). The change in the investment portfolio has lead to a lack of tax payments which has impacted on their ability to fully impute dividends, however as a big chunk of the company is owned by McKenzie charities I guess thus is less of a concern to them.

The listed investments disclosed at 31 March 2020 included sizeable holdings in IFT, MCY, MEL, FPH, CEN, MFT, EBO, GNE and TPW. In addition to the gain reported on public investments in the six months to 30 September, RNG will have continued their good run on these holdings in the 10 weeks since (assuming they still hold them).