guidance FY22 npat of 93-96m
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guidance FY22 npat of 93-96m
Agreed Percy. I'm very happy indeed. Good to see strong lending growth which means they are well positioned for ongoing growth in the years ahead. http://nzx-prod-s7fsd7f98s.s3-websit...639/365045.pdf
2019 Divi 3.5c/share
2020 Divi 4.5c/share
2021 Divi 4.0c/share
2022 Divi 5.5c/share
A 57% increase in the interim divi over 3 years. It certainly helps compensate for income drops elsewhere!
It is good to see that the net interest margin was up by 3bps.
They trumpeted the Canstar savings bank award.
Happy holder.
Jeff 'managing' reported profit and market expectations (guidance) in his usual way
As rolling 2 half year (12 months) npat is now $92m you would have to assume that there will be a smallish profit upgrade sometime in May/June
Here's how Jeff has 'managed' things over the years
Yes excellent interim result steady as it goes.
Another excellent result. Still plenty of growth to come in reverse mortgages. Love that divi.
Hgh always delivers...
I'm a little underwhelmed with this result. Steady increases in NIM, ROE and NPAT and a great increase in dividends. But I was expecting a bit more I must admit. Thankfully my next biggest holding after HGH (3rd & 4th biggest) came out with a great result. Thanks PGW and HGH.
FY22 forward PE's for peer group
BEN 11.9
BOQ 13.2
ANZ 13.7
NAB 16.0
WBC 17.3
CBA 17.4
Average 14.9
All taken off market screener and is the average of all analysts forecasts.
My view is that HGH confers some key advantages not the least of which is the full imputation credits attached to dividends.
The strong growth in reverse mortgages is very pleasing and the total addressable market is huge. Low risk and very good margin lending that's growing very strongly holds a lot of promise for growth going forward.
Any investor looking for strong and growing fully imputed dividend income in the years ahead, would struggle to find a more ideal company.
There is no logical reason HGH should trade at a discount to its peers, something I have been saying for many years.
P.S. Good to see the high risk unsecured lending through Harmoney falling away. Long may that trend continue !
Thanks Beagle. HGH sits comfortably in the middle where I think it should be. I think we are fairly priced at the moment and have no intention to either buy or sell.
Suppose 8.8% increase in NPAT (normalised) v pcp and 7.7% increase in EPS (normalised) is pretty reasonable .... not double digit though
Book Value up 4.4% from a year ago and 1.6% from June 21
Too much paid out in divies