Well positioned ...for what?
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Not sure I agree it is a good result. It's reasonably solid and little to worry about. As Percy points out, we have growth in nearly all the business, including big growth in expenses !! What I like most is the good growth of reverse mortgages (+22%) and personal lending through Harmoney & Spotcap in Australia, resulting in Australian receivables growing 27% to $615M. Also nice to see them maintain well above industry average NIM at 4.44%. Solid and well positioned.
http://www.sharechat.co.nz/article/d...k-improveshtml
Strongest growth seems to be in impairments, up a whopping 51% ! I have warned before about the risk of finance company type lending on no deposit deals with motor vehicles. Coming back to bite them with more biting to come ? Lending growth is great but if its riskier then the effect on EPS growth is clear to see.
What's the bet a lot of unsecured Harmoney loans have turned out to be anything but harmonious ?
Learned it doesn't pay to be too negative, nobody thanks you so I'll leave it at that.
At risk of having a different opinion again as some other respected posters, here's how I see things (updated).
2nd Qrt 2017, NPAT $14.8m on 499.17m shares, = EPS of 2.96c
2nd Qrt 2018, NPAT $15.1m on 522.3m* shares, =EPS of 2.89c (* removes the dulitionary effect of the 34.8m shares issued from the Rights issue in Dec 2017)
So EPS growth this quarter is -2.36% over pcp.
So I stand by my "can't see where the strong growth is" call
Looks like business as usual, a classic long term hold kinda stock and one I sold out of far too early.
Winner as you obviously haven't got to slide 17 yet and I know it will excite you, here are the contents:
Diversity & inclusion
• Committed to becoming a more
diverse and inclusive place of work.
• Member of Champions for Change.
• Focused on attracting and retaining
female leaders and improving gender
balance across the business.
• Increase Māori representation.
• Aiming to be an employer of choice
for emerging Māori talent.
I'm surprised you don't think it should be Slide 1 or 2
Champions For Change are a group of winners. Got Jenny Shipley as Co Chair (well that went without saying) and shes happy to talk about Genesis Energy. How About she shares her contribution to Mainzeal.
And Mike Bush. Hes the Head Cop who reckons Bruce Hutton (the cop that planted the shell case in the Arthur Alan Thomas case - and wasnt bright enough to know the shell was manufactured after the murders) was a man with integrity beyond reproach
The chart on page 6 is a waste of space ...from a presentation point of view at least