Yovich & Co. Weekly Update - 24 February 2014

Feb 24, 2014 | Commentary Offers

February 24th 2014


This Week's Themes

• Reporting season kicked in with the market reacting favourably to company announcements.

• It was a very strong week across the Tasman with the market recording a post GFC high. Expectations that the low interest environment will be extended is delivering a more robust outlook for corporate earnings.

• In the U.S, mixed signals via economic indicators and corporate earnings weighed on the Dow but tech stocks edged out a gain for the week.

• Australasian currencies fell on the uncertain outlook for the U.S.

Notable Results

• Telecom (TEL.nz) issued its first half results with net profit of $167 million, an increase of $4 million over last years result but below market expectations. TEL also announced that it will launch an internet TV service and change their brand to "SPARK".

• Fletcher Building (FBU.nz) increased its first half profit by 5% and guidance of double digit earnings growth.

• Ebos Group (EBO.nz) reported an increase in half year profit by $15 million to $49.9 million.

• NZ Oil & Gas (NZO.nz) had its half year profit fall by 47% to $4 million with a doubling in exploration costs.

• Fisher & Paykel Healthcare (FBU.nz) raised its full-year profit guidance due to increased demand and better margins for its obstructive sleep apnea products. Profit is expected to be around $97 million.

• BHP profit beat expectations, boosted by tax and debt cost reductions. Profit for the half was AUD $7.76 billion.

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Jarrod Goodall

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Weekly Update Investments Bonds Shares Telecom Fletcher Building Ebos Contact Energy Sky TV SKY CEN TEL FBU


Chris Morey | Feb 25, 2014

I may be interested in some SKT bonds (maybe $10,000) but not until 15 Mar when a prior investment matures

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