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Shane Solly: Harbour Asset Management spokesperson on the financial results coming through this week · Best of Business

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  Speaker 1: You're listening to a podcast from News Talk sed Be
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  Speaker 1: follow this and our wide range of podcasts now on iHeartRadio.
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  Speaker 2: Shane Sally Harbor Asset Management with us.
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  Speaker 3: Now Hey Shane, Hello Heather.
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  Speaker 2: All Right, So we've got a big week obviously for
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  Speaker 2: the New Zealand company profit results A two contact freightways.
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  Speaker 2: What did the market make of them?
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  Speaker 3: Yeah, so you bang on the thirteen companies reporting profits
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  Speaker 3: this week, and we've also got five annual Shielder meetings
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  Speaker 3: kicked off today A two A profit result slightly eakins
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  Speaker 3: expectations slightly higher. But the big news was they've announced
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  Speaker 3: their acquisition of your Shilly's Pocono dairy processing plant for
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  Speaker 3: two hundred and eighty two Mel. They're selling Matari Valley
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  Speaker 3: milk to Open Country for one hundred Mel. They're losing
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  Speaker 3: about one hundred and thirty mil on that deal, but
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  Speaker 3: the hab actually announced good high single digit revenue growth
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  Speaker 3: for the next year, and they've also talked about returning
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  Speaker 3: three hundred million the special dividend once they've done the
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  Speaker 3: plant transactions. Stock prices up two point six percent to
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  Speaker 3: eight ninety five contact good, solid result in line with
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  Speaker 3: market expectations. Again financi year twenty six guidance top of
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  Speaker 3: the market range, so that's positive. Share price was up
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  Speaker 3: about one percent, which is over one point three percent
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  Speaker 3: nine oh five freightways a result in line with market expectations.
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  Speaker 3: Management was saying, hey, it's been pretty tough challenging out there,
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  Speaker 3: but we continue to see this improving volume of the
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  Speaker 3: last six months. They think that's going to continue. The
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  Speaker 3: momentum is going to continue, and to financial year twenty
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  Speaker 3: six their sheep price or freightway ship rods up one
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  Speaker 3: point six percent to eleven seventy four over the overall,
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  Speaker 3: pretty good start. New Zealand ship market app zero point
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  Speaker 3: six percent, lead by infantol A two in contact.
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  Speaker 2: Yeah, and what else are you looking for this week?
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  Speaker 2: What are you interested in?
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  Speaker 3: Yeah, tomorrow we've got mercury. The other another the electricity
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  Speaker 3: generators INFTWO as that comes out with an your shield
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  Speaker 3: A meeting Wednesday Fletcher Building in Spark. Those two will
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  Speaker 3: be very closely watched. Both have had a few issues
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  Speaker 3: Thursday Ork on the airport Fisher and Pipeliolki at Heartland
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  Speaker 3: Scaler up sky City. So pretty tiring day on Thursday,
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  Speaker 3: and then Friday we get New Zealand Stocker Shansy in
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  Speaker 3: sky TV. Is a pretty rapid week of results.
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  Speaker 2: Now, obviously another big thing is happening this week, which
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  Speaker 2: is the Reserve Bank meeting on the OCR. Did we
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  Speaker 2: get some some interesting data points out today.
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  Speaker 3: Yeah, it was interesting, different conflicting data points today here
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  Speaker 3: that First, up, we had the NZ Businesses on Performance
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  Speaker 3: of Services and Index for July. It was up slightly
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  Speaker 3: to forty eight point nine, up versus dune forty seven
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  Speaker 3: point six. Good. You know that means things are less
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  Speaker 3: bad because of reading below fifty. Still means the services
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  Speaker 3: part of their climban is shrinking, right, We're still contracting,
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  Speaker 3: so less bad, but still bad. Secondly, we had the
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  Speaker 3: Reserve Bank and they've come up with a new series.
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  Speaker 3: It's a business Expectations, so they and it showed inflation
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  Speaker 3: expectations across businesses up slightly on the last month, unemployment
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  Speaker 3: rate expectations down slightly. Back on inflation businesses that talk
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  Speaker 3: about two point six four percent inflation expectations for the
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  Speaker 3: next two years. That's within the rbns IS target bands
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  Speaker 3: so they can cut. Finally, the INZII shadow board, this
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  Speaker 3: is the shadow rabian Z board. They have voted on
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  Speaker 3: a zero point two five percent cut to three percent
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  Speaker 3: on Wednesday, but even within the board there was a
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  Speaker 3: bit of descent. There's two of the board members said
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  Speaker 3: no change five cent point two five percent on one
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  Speaker 3: said a half a percent. The markets expecting twenty five
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  Speaker 3: basis points on Wednesday, so it'll be a bit of
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  Speaker 3: a surprise if they don't get at quarter of a
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  Speaker 3: percent cut.
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  Speaker 2: Absolutely, Shane, as always, thank you so much. Talk to
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  Speaker 2: Youain next week. Shane Sally Harbor Asset Management.
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