What would really increase the whole market for RELs is if a bank such as ASB started to offer them.
It would expand the market,and I would expect Heartland would see the sort of growth they are achieving in Australia.
Printable View
Love the way they present numbers
Tout the EPS going up from 12 cents to 13 cents ......pretty good really
Put a couple of decimal points in the sums
EPS increased from 12.33 cents in F17 to 12.53 cents in F18 - a miserly 1.6%
That’s probably why divie not up ...new capital not working that well (yet)
This is a good achievement
Significant developments and key initiatives around employee diversity, including partnership with Global Women and Champions for Change, and introduction of flexible working policy
I regret selling out of HBL even more now (This one is a cracker - https://www.globalwomen.org.nz/our-p...483/jan-thomas)
Capital ratio.ROE,ROC.
Without having to have satisfactory NZ Reserve Bank capital ratio to support RELs it means Heartland Group will be able to grow RELs ,and use make better use of their capital to grow their Australian operations.
Heartland Bank will off course still need to comply with NZ Reverse Bank banking ratios.
This ones a cracker ...hopefully not just been by swayed by fellow directors to be a champion and doing it because he truly believes
https://www.globalwomen.org.nz/our-p...eff-greenslade
But I guess the best of the latest results is another free Maori language course! My two new words for today are:
whakaro - a state of mind
tautoko - champion
Hey - this must be worth more than just the measly increase of the EPS by only 1.6%! BTW - what is measly in Maori? They probably never will teach us that particular word :);
actually i was in a rush think my sentencing was wrong it should be hbl would get taken over by a bigger fish if the reverse mtges become big business.
Yes it seems trite to have a presentation to analysts and round the EPS to the nearest whole number. I smelled a rat straight away.
Off note 8 http://nzx-prod-s7fsd7f98s.s3-websit...214/284523.pdf in the financials and based on diluted shares on issue last year I get EPS rising from 12.24 cps to 12.535 cps a gain of just 2.4%. The reason is the growth in impairments. But wait there is more....
We have a new accounting standard that requires them to model impairments over the expected life of the loan
http://nzx-prod-s7fsd7f98s.s3-websit...214/284490.pdf - see more at page 14.
Two things occur to me.
1. This is proof of what I have been saying all along that their methodology of measuring impairments in the past has been to understate them.
2. Its does seem awfully convenient that they are taking this charge of $14-18m net directly as a charge against equity, i.e. an extraordinary item below the normal profit line...after all we can't have such mundane things impacting management's performance bonus next year can we !
Holding.... but less enthusiastic than I was.
But wait there's even more...its all okay because based on this year's forecast EPS will grow from 12.535 cps to 13.5 cps, growth of 8% !
Once the guru analysts work out that EPS is going to grow at 8% this year the share price will really take off !
I think it is a good result . Have bought more and have a lot. Think women are very important especially for reverse mortgages.