Also, the NTA is back up to 88c, with a quarter of the 'accelerated' non-core property realised. Also, opex is down to 54%, tracking well on the way down to 50%.
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Also, the NTA is back up to 88c, with a quarter of the 'accelerated' non-core property realised. Also, opex is down to 54%, tracking well on the way down to 50%.
Discl: long HNZ
There is mention of acquisitions in the slides for the AGM. Did they elaborate on this or did anyone ask any questions regarding prospect acquisitions?
Pleasing that the profit guidance is on track.
The two boards is a Reserve Bank requirement.
With Heartland just becoming a bank they are not affected by new Reserve Bank requirements as they meet them.
35% of shareholders have elected dividend reinvestment.
Heartland are exiting low margin loans for better margin loans.
Equity ratio very healthy 15.7%
Heartland loans are for shorter periods than other banks,ie motor vehicle,invoice loans,seasonal loans,livestock.
Good progress is being made on the troublesome property loans.
95% of loans are secured.[Thanks for asking that question Forest]
80% of funding is retail.
This years' increase in earnings will come from lower funding,cost reductions and organic growth.
Future growth will be aided by acquistions,adding to area's Heartland want to grow,such as motor vehicle lending.
A very positive meeting.Excellent future prospects.
"we are well positioned."
Hi Percy,
Relying on you here, I trust you've done your research :) What's the price earnings ratio for this company if they meet next years forecast earnings ?
Did my research a long time ago,before I brought,and then brought more as the fundamentals improved.!
Number of shares on issue is 392,554,579.
Projected earnings $34mil == EPS 8.66 cents per share.PE 9.8 at 85cents.
Projected earnings $37mil == EPS 9.42 cents per share.PE 9 at 85cents.
Earnings growth.This year's adjusted earnings $24 mil.Growth rate at project $34mil is 41.67%.Growth rate at projected $37mil is 54.16%.
Dividend yield at 85cents is 7%.This will most probably increase as profit increases.
Decide your own PE considering growth rate.PE 10 gives SP of 90 cents to 95cents. PE 15 gives SP of $1.27 to $1.35 PE 18 gives SP of $1.53 to $1.62.
Or a growth company could have a PE of 20 or more. Percy, the presentation was cagey on future growth. I got the impression the growth to date was from fixing the company after putting it together but that they had achieved most of that now. Did you gain any feel for how positive they were about future growth prospects therefore?