Yovich & Co. Weekly Update - 17 February 2014

Feb 17, 2014 | Commentary

February 17th 2014




This Week’s Themes

  • Markets rebounded last week as reporting season warmed up. One of the reasons for the buoyant sentiment was news that bad debts incurred by the big banks have fallen, indicating the strength of the Australasian economies.
  • The Aussie market bounced back strongly after five consecutive down weeks. Strong corporate results and improving trade data in China spurred investors to find value.
  • Confidence in global markets saw a return to risky assets such as the Kiwi Dollar. The Kiwi edged towards 84 US cents, marking a 3.7% gain so far for February.

Notable Results

  • Michael Hill International (MHI.nz) announced its result for the first half which was in line with expectations. Net profit fell AUD$16.3 million (24%) due to a provision related to a tax dispute.
  • Vital Healthcare (VHP.nz) increased its earnings by 48% as a result of acquisitions, new developments, rental increases and a tax benefit.
  • Sky City Entertainment (SKC.nz) announced lower profits for the first half of $66.4 million, compared to 72.1 million for the previous corresponding period. The downward pressure on profits was due to the high New Zealand Dollar and soft consumer spending.

Investment News

High Yielding Shares

The below list is a summary of the highest yielding shares in the NZ market with upside to their current market price.











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About the author

Jarrod Goodall

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