Yovich & Co Blog

Yovich & Co. Weekly Update - 21 January 2013

Argosy Property (ARG.nz): 

Last week, Argosy confirmed the agreement to lease the newly acquired property at 15 Stout St has now been signed with the Crown and settlement is expected to occur in early March 2013. The other newly acquired building in Wellington, NZ Post House, is also expected to settle at around the same time. These two acquisitions have increased Argosy’s exposure to Office type properties from 29% to 41% and to Wellington from 12% to 27%. To fund these acquisitions, Argosy has raised capital by private placement last December and offered existing shareholders a Share Purchase Plan at a price of 88 cents. At the current share price of 91 cents, we view the offer to buy shares at 88 cents as fair and presents a good opportunity for clients looking to get a larger exposure to the domestic property market.

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Tags: Weekly Update Investment Shares Bonds Market Commentary Argosy Property Limited Argosy ARG.nz ARG

Yovich & Co. Weekly Update - 14 January 2013

Brokers’ 2013 Hottest Picks – Herald Article:


On Boxing Day The Herald published the list of top picks from some of the large brokers, the lists were all different but there were a few stocks that were most common amongst the brokers. The most common picks were Ryman Healthcare, Diligent Board Member Services and PGG Wrightson which we are also positive on. Others that we are also positive on that were mentioned by some of the brokers include A2 Corporation and Sky Network Television. Here are my notes on these stocks:

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Tags: Weekly Update Investment Shares Bonds Market Commentary RYM.nz DIL PGW ATM SKT DIL.nz RYM PGW.nz ATM.nz SKT.nz

Yovich & Co. Weekly Update - 10 December 2012

A2 Corporation Limited (ATM.nz) – Capital Raising and listing to the NZX Main Board:

A2 announced last week that they had completed an equity raising of $20 million in new shares and a partial sell down by the company’s largest shareholders with a total of NZ$70 million of existing shares sold at NZ$0.50 per share. ATM’s Managing Director Geoffrey Babidge said the equity raising and change of listing would position the company to accelerate the global growth initiatives outlined in the recently announced strategic review and provide additional liquidity. Last month when ATM announced the results of the strategic review, the company confirmed it would continue to be "capital light," relying on partnerships to drive it’s growth into new dairy markets and categories.

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Tags: A2 Corporation Limited ATM ATM.nz Weekly Update Investment Shares Bonds Market Commentary

Yovich & Co. Weekly Update - 3 December 2012

Fonterra Shareholders Fund (FSF.nz) – Initial Public Offering:

The long awaited listing of Fonterra on the NZX went ahead on Friday with the strong oversubscription indicating that the share price would open above the IPO price of $5.50. However, I was very surprised when it opened at $6.66, trading as high as $6.95 before closing at $6.85. In hindsight I can see the market dynamics that have created such a high premium for the stock but believe that it will be a short term phenomenon. The buying pressure is coming from large hedge funds desperate to get exposure to a significant player in the soft commodities market, while on the other side of the market there are very few sellers with shares being tightly held by retail shareholders, who have not been informed of their shareholding yet and loyal “Friends of Fonterra” shareholders.

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Tags: Fonterra Weekly Update Investment Shares Bonds Market Commentary

Yovich & Co. Weekly Update - 26 November 2012

Abano Healthcare (ABA.nz) – Annual Meeting:

Abano is a provider of various health related services including Dentistry, Audiology, Radiology, Pathology, Orthotic and Rehabilitation throughout New Zealand, Australia and South East Asia. They presented their annual meeting last week and highlighted a strong yearly result and several exciting projects.

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Tags: Abano Healthcare Abano ABA ABA.nz Weekly Update Investment Shares Bonds Market Commentary Investments

Yovich & Co. Weekly Update - 19 November 2012

Ryman Healthcare (RYM.nz) – Half Year Results:

Ryman delivered another fantastic result with record underlying profit of $48.1 million, an increase of 16% on last year.  The result has enabled Ryman to increase their interim dividend to 4.6 cents per share, with a record date of 30 November and paid on December 7th.

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Tags: Moa Group Moa Group Limited Ryman Healthcare Ryman Rym Rym.nz Weekly Update Investment Shares Bonds Market Commentary Investments

Yovich & Co. Weekly Update - 12 November 2012

Infratil – Result Announcement:

Earnings for the first half of the year were NZ$295.1million, up NZ$18.7 million (6.8%) on the previous corresponding period. As has been featuring in the news lately, the net parent surplus has been dragged down by further impairment charges relating to the loss-making operation in Europe. But, as you can see in the below bar graph, the Infratil Airports Europe assets are a relatively small part of the Infratil portfolio.

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Tags: Infratil Zenith Minerals Limited Bonds Market Commentary Weekly Update Investments Shares

Yovich & Co. Weekly Update - 5 November 2012

Investing for Income:

In April 2009 the Reserve Bank of New Zealand (RBNZ) reduced the Official Cash Rate (OCR) to a record low of 2.5% as the world economy was in the depths of the Global Financial Crisis (GFC). Since then, crisis has been averted but economies have struggled to bounce back with significant growth, in contrast markets have rallied as investors chase high yielding stocks and bonds. With the RBNZ making indications that an upward move in the OCR could be a long way off, the search for high yielding investments remains central to all investors. Our top Income Investments have proven track records with dividends, robust balance sheets and a sustainable bottom line.

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Tags: Weekly Update Investment Shares Bonds Market Commentary Investments

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