Share Name Share Symbol Market Type Share ISIN Share Description
New Zealand Inv Tst LSE:NZL London Ordinary Share GB0006348741 ORD 25P
  Price Change % Change Share Price Shares Traded Last Trade
  +0.00p +0.00% 426.00p 0 06:30:09
Bid Price Offer Price High Price Low Price Open Price
0.00p 0.00p - - -
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments - - - - 45.80

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03/2/200710:17New Zealand Investment Trust51

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gateside: WELLINGTON (AFX) - Share prices closed higher, driven by discount retailer the Warehouse which met expectations with its interim net profit and offered investors a glimmer of hope for its Australian unit, dealers said. The benchmark NZSX-50 index was up 6.27 points or 0.20 pct at 3,156.03 on turnover worth 120.7 mln nzd. Of the 154 stocks there were 47 rises and 63 falls. Shares in The Warehouse rose 17 New Zealand cents to 4.11 nzd after the company posted a December half profit of 53.88 mln nzd, at the higher end of expectations. The company said that while New Zealand earnings were down its Australian operations had improved. ABN Amro Craigs broker James Lock said investors were looking for any hint of a turnaround in The Warehouse, especially from its Australian unit. "The share price has been battered around for a while and now there's a glimmer of hope for investors" from the Australian operation, Lock said. Several stocks came under selling pressure from profit-taking, the higher interest rate regime and the New Zealand dollar's appreciation. "I think the market was having a good solid pause here and letting off some steam," Lock said. Among high profile stocks, Telecom fell one cent to 6.25, Contact Energy was down 16 cents at 7.01 nzd, a level last seen in early February, and Carter Holt Harvey was down one cent at 2.22. Other shares on the move included Air New Zealand down three cents at 1.58 nzd, Fisher and Paykel Appliances up five cents to 3.10 nzd and Lion Nathan up 15 cents to 8.00 nzd.
gateside: Good increase in the NAV this week from 327p to 335p Share Price looks to be building a solid level of support at 300p :-)
gateside: A series of meetings with the Managements of the Company's major holdings provided grounds for optimism about the prospects for the year ahead. Businesses are mainly positive despite signs of a slow down in activity in some sectors of the New Zealand economy such as housing. Fletcher Building, whose share price rose 13% in November, was a good example. Fletcher Building's chief executive Ralph Waters reported that their backlog of business had risen to NZ$700million, up from a previous record of NZ$500 million at the end of June. The revival in Fletcher Building's fortunes over the past three years is in many ways an illustration of New Zealand's growing strength relative to competitors overseas, and is resulting in both New Zealand as a country and companies such as Fletcher Building attracting attention from international investors.
gateside: The New Zealand Investment Trust finished its financial year ended 31 October 2004 with the net asset value barely changed over the month. Of greater note however, was the very strong performance for the full year, with the net asset value up by 19.9% in New Zealand dollars against a rise of 13.0% for the NZSX All Ordinaries Index. For Sterling-based investors the gains were even greater with a 23.5% rise in the net asset value. The rise in the New Zealand Investment Trust's share price out-stripped the gain in the net asset value due to a narrowing in the level of the discount. The main change to the portfolio during October was a reduction in the holding of Fisher & Paykel Appliances. This has left almost 10% of the portfolio in cash, although a number of potential Australian investments are currently being reviewed for possible inclusion in the portfolio. The Australian segment of the portfolio has recently had a significant positive impact on performance, with the share prices of a number of the Australian holdings including United Group and James Hardie up over 10% in October.
gateside: September was an excellent month for the portfolio with the net asset value up by 5% in New Zealand dollars, well ahead of the NZSX All Ordinaries Index which rose less than 3%. The Reserve Bank of New Zealand increased interest rates by 0.25% to 6.25% on 8 September causing the New Zealand dollar to strengthen further, so that the 5% rise in the Company's net asset value over the month translated into a gain of 8% measured in Sterling. The largest holding in the portfolio, Fletcher Building, saw its share price rise by over 15% and the portfolio benefitted relative to the performance of the New Zealand market due to its nil weighting in the two weakest performers over the month, Carter Holt and the Warehouse. Activity in September included significant additions to the holdings in GPG Group and CanWest Mediaworks in advance of upward movements in their share prices, and a small reduction in the holding of Fletcher Building.
gateside: One of the main features of August was a renewed bout of strength in the value of New Zealand dollar and this was behind the 3% rise in The New Zealand Investment Trust's net asset value in Sterling over the month. Measured in New Zealand dollars the net asset value slipped by 1% compared to the 2% decline in the NZSX All Ordinaries Index. Despite these small moves there were some sharp movements in individual share prices. On a positive note the share prices of Toll Holdings and SFE Corp rose by 17% and 10% respectively following well received results. However, Fisher & Paykel Appliances' share price slipped 12% after management warned that earnings will be impacted negatively by higher raw materials costs and weakened demand in the Australiasian markets.
gateside: In what was a poor time for most global markets, July proved to be a positive month for the Company and the New Zealand stock market. Over the month the Company's share price and net asset value rose around 3.0% in New Zealand Dollar and Sterling terms. New Zealand is benefitting from continued strength in corporate earnings and a positive flow of funds into the stock market. During July new holdings were introduced in the New Zealand media company, Canwest Mediaworks, and the Australian building products manufacturer James Hardie Industries. The failure of the New Zealand Investment Trust's share price to keep pace with the rise in its net asset value led us to purchase additional shares to be held in treasury at a discount of around 15%
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