Sat, 02 Aug
° °
  • Firstline - TV3 New Zealand

    Firstline

    Weekdays 6am

  • 3 News - TV3 New Zealand

    3 News

    Nightly 6PM

  • Campbell Live - TV3 New Zealand

    Campbell Live

    Weekdays 7.00pm

  • 3rd Degree - TV3 New Zealand

    3rd Degree

    WEDNESDAYS 8.40PM

  • The Paul Henry Show - TV3 New Zealand

    The Paul Henry Show

    Weekdays 10.30pm

  • Three 60 - TV3 New Zealand

    Three 60

    Sundays 9.30am

  • The Nation - TV3 New Zealand

    The Nation

    Sat 9:30am / Sun 10am

Few standouts in mixed results season

Monday 25 Feb 2013 7:50a.m.

Few standouts in mixed results season

By 3 News online staff

Some business heavyweights delivered their latest profit results last week, revealing mixed performances.

Tyndall Asset Management Equities specialist Rickey Ward told Firstline this morning New Zealand company results, on the whole, were disappointing.

"Around about a third of the companies that have reported in New Zealand have disappointed, or certainly haven't met most people's expectations, which is a change in trend of what we've seen in the past."

He says New Zealand is "very small" market that lacks diversification.

"Companies' earnings do rely on international revenue to their own profit, so unlike many other countries it's very hard to predict because we don't sit in other countries."

Mr Ward says many have blamed the high NZ dollar, but "on the other hand you have Fisher & Paykel Healthcare, who wasn't due to report, come out and indicate an earnings upgrade is in the pipeline. That should be severely impacted by a high currency."

Other standout performers include Contact Energy and Sky TV.

"Contact Energy In an environment where electricity prices are being rather low, have managed their costs very well… Sky TV have lowered ad revenues, but have been able to encourage people to transition to a higher premium product."

3 News

 
comments powered by Disqus