Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Morningstar Equities Research - CEN-NZ, FXJ, DWS, MYR

Morningstar Equities Research - CEN-NZ, FXJ, DWS, MYR

Contact Energy Limited CEN-NZ| Strong first half expected
Morningstar Recommendation: Hold

Contact Energy is due to report its first half fiscal 2013 results on February 18. The firm recently released its operating statistics for December 2012 and the first half. The electricity division is projected to deliver 10.5% growth in earnings before interest and tax (EBITDA) to NZD 231 million for the first half driving overall EBITDA by 9.5% to NZD 252.7 million. The increase in electricity earnings is largely drive by lower cost as a result of a decline in wholesale electricity prices and lower generation cost, partly offset by a fall in spot electricity prices and lower output. We expect the LPG and meter businesses to perform in line with last year. Despite a strong first half, we maintain our full year EBITDA and NPAT of NZD 531 million (up 5%) and NZD 184 million (up 5%) respectively, as we expect growth to moderate in second half fiscal 2013. We also maintain our narrow moat rating on the stock reflecting the company’s significant nation wide market share its integrated business model and consolidated industry structure. Our fair value remains unchanged at NZD 5.50 per share.

DWS - Downgrade due to price change.

Fairfax Media - Upgrade due to price change.

Myer Holdings - Upgrade due to price change.

http://img.scoop.co.nz/media/pdfs/1302/Morningstar_Equities_Research_050213.pdf

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

OceanaGold: Man Killed In Waihi Mine Accident

A 29-year-old man had died following a work place accident at OceanaGold mine, Waihi last night. The man was killed after the front end loader he was in rolled down a slope. The accident happened at approximately 6.30pm on Thursday night. More>>

ALSO:

Constructing Consent: Annual Housing Consents Highest In Over A Decade

More than 29,000 new homes gained building consent in the year to June 2016, up 16 percent from the previous June year, Statistics New Zealand said today. More>>

ALSO:

War Against Weevil For Future Peas: “No Peas, No Weevil” Ban Now In Place In Wairarapa

The Ministry for Primary Industries (MPI) has today placed a ban on growing peas within a specified area and placed controls on moving pea material (seed and untreated pea straw) within, in and out of this area for the next 2 years. More>>

ALSO:

Wood Producers: Crisis In New Zealand Log Supply

New Zealand wood processing leaders held a hui with senior government officials and political leaders in Whangarei yesterday to assess the acute log supply shortage to local mills in Northland. More>>

Consents And Taxes: Trustpower 'Very Disappointed' With Judgement

Trustpower is "very disappointed" with a Supreme Court ruling dismissing its bid to claim tax deductions on $17.7 million of project costs in a case closely watched by large-scale infrastructure developers. More>>

ALSO:

Fruitful Endeavours: Kiwifruit Exports Reach Record Levels

In June 2016, kiwifruit exports rose $105 million (47 percent) from June 2015 to reach $331 million, Statistics New Zealand said today. Overall, goods exports rose $109 million (2.6 percent) in June 2016 (to $4.3 billion). More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news