Yovich & Co. Market Update - 21 August 2018

Aug 21, 2018 | Commentary

Skellerup Holdings

The tax paid profit for the June year was up 23% to a record $27.3m. The results were achieved by higher pay-outs to farmers in the country's flagship dairy industry. The final dividend is 7c per share compared with 6c last year.

The gross dividends yield is 6.53%.


Tax paid profit for the six months to June was $6.9m compared with $7.8m last year.

NZX has the potential for incremental earnings growth, with funds under management up 21.7% to $2.9bn and SuperLife funds under management were up 16% at $2.1bn.

Current price is $1.10 and the dividend for the current year is 10.56c inclusive of a 1.5c special dividend.

Precinct Properties

Tax paid profit for June year was up 57% at $254.9m. This was inclusive of property revaluation gains of $209m which were an increase of $131.5m on last year.

The current share price is $1.41c per share, with a

12 month

target price of $1.33. Dividends are payable quarterly and gross dividend yield is 5.45%

Mercury Energy

The net annual profit after tax increased by 27% to $234m compared to $184m last year.

The current share price is $3.42 with a final dividend of 9.1c per share fully imputed, bringing total dividend for the 2018 year to 15.1c per share, up from 14.6c the previous year. This is the tenth consecutive year of ordinary dividend growth.


Tax paid profit for the June year was $8.2m compared to $9.8m the previous year.

Final dividend payment of 2c per share, payable 28th September, bringing the total dividend for the year to 6c per share.


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Walter Yovich

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Skellerup Holdings SKL.nz NZX Limited NZX.nz Precinct Properties PCT.nz Mercury Energy MCY.nz Comvita CVT.nz


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