1 00:00:00,120 --> 00:00:02,080 Speaker 1: Shane Sally Harbor Asset Management with US. Now. 2 00:00:02,080 --> 00:00:03,680 Speaker 2: Hey Shane, Hello Heather. 3 00:00:03,920 --> 00:00:05,440 Speaker 1: All right, so we've got a big week obviously for 4 00:00:05,440 --> 00:00:09,240 Speaker 1: the New Zealand company profit results A two contact freightways. 5 00:00:09,280 --> 00:00:10,440 Speaker 1: What did the market make of them? 6 00:00:11,119 --> 00:00:14,560 Speaker 2: Yeah, so you're bang on the thirteen companies reporting profits 7 00:00:14,560 --> 00:00:17,040 Speaker 2: this week, and we've also got five annual Shield of 8 00:00:17,079 --> 00:00:20,800 Speaker 2: meetings kicked off today A two A profit result slightly 9 00:00:20,800 --> 00:00:24,599 Speaker 2: against expectations, slightly higher, But the big news was they've 10 00:00:24,600 --> 00:00:27,320 Speaker 2: announced the acquisition of your Schill's Poco a dairy processing 11 00:00:27,360 --> 00:00:29,480 Speaker 2: plant for two hundred and eighty two Mel. They're selling 12 00:00:29,520 --> 00:00:31,840 Speaker 2: Matari Valley milk to Open Country for one hundred mil. 13 00:00:31,920 --> 00:00:34,160 Speaker 2: They're losing about one hundred and thirty mil on that deal, 14 00:00:34,720 --> 00:00:38,040 Speaker 2: but they have actually announced good high single digit revenue 15 00:00:38,040 --> 00:00:41,240 Speaker 2: growth for the next year, and they've also talked about 16 00:00:41,280 --> 00:00:44,120 Speaker 2: returning three hundred million this special dividend once they've done 17 00:00:44,159 --> 00:00:48,000 Speaker 2: the plant transactions. Stock prices up two point six percent 18 00:00:48,040 --> 00:00:51,200 Speaker 2: to eight ninety five contact. Good, solid result in line 19 00:00:51,240 --> 00:00:55,680 Speaker 2: with market expectations. Again, financed year twenty six guidance top 20 00:00:55,680 --> 00:00:58,760 Speaker 2: of the market range, so that's positive. Share price was 21 00:00:58,840 --> 00:01:01,680 Speaker 2: up about one percent over one point three percent nine 22 00:01:01,680 --> 00:01:06,240 Speaker 2: oh five freightways result in line with market expectations. Management 23 00:01:06,319 --> 00:01:09,080 Speaker 2: was saying, hey, it's been pretty tough challenging out there, 24 00:01:09,120 --> 00:01:11,840 Speaker 2: but we continue to see this improving volume of the 25 00:01:11,880 --> 00:01:14,240 Speaker 2: last six months. They think that's going to continue. The 26 00:01:14,240 --> 00:01:16,840 Speaker 2: momentum is going to continue. In the financial year twenty 27 00:01:16,880 --> 00:01:19,120 Speaker 2: six the sheep price of freightway ship rows up one 28 00:01:19,120 --> 00:01:21,959 Speaker 2: point six percent to eleven seventy four over the overall, 29 00:01:22,000 --> 00:01:25,480 Speaker 2: pretty good start. New Zealand Shire Market app zero point 30 00:01:25,520 --> 00:01:28,039 Speaker 2: six percent d by Infanto A two in contact. 31 00:01:28,240 --> 00:01:30,080 Speaker 1: Yeah, and what else are you looking for this week? 32 00:01:30,120 --> 00:01:30,920 Speaker 1: What are you interested in? 33 00:01:31,680 --> 00:01:34,760 Speaker 2: Yeah, tomorrow we've got mercury. The other another the electricity 34 00:01:34,800 --> 00:01:37,160 Speaker 2: generators INFANTWOS that comes out with an your shield A 35 00:01:37,200 --> 00:01:40,240 Speaker 2: meeting Wednesday Fletcher Building in Spark. Those two will be 36 00:01:40,400 --> 00:01:43,920 Speaker 2: very closely watched. Both have had a few issues. Thursday 37 00:01:44,000 --> 00:01:46,600 Speaker 2: up on the Airport Fishing and Populi Alkia Heartland Scaler 38 00:01:46,680 --> 00:01:49,720 Speaker 2: up sky City. So pretty tiring day on Thursday, and 39 00:01:49,720 --> 00:01:52,480 Speaker 2: then Friday we get New Zealand stopper Shanees insidex in 40 00:01:52,600 --> 00:01:55,800 Speaker 2: sky TV. Is a pretty rapid week of results. 41 00:01:56,240 --> 00:01:58,520 Speaker 1: Now obviously another big thing is happening this week, which 42 00:01:58,520 --> 00:02:00,440 Speaker 1: is the Reserve Bank meeting on the ocyard. Do we 43 00:02:00,440 --> 00:02:02,520 Speaker 1: get some some interesting data points out today? 44 00:02:03,320 --> 00:02:06,720 Speaker 2: Yeah, it was interesting different conflicting data points today here 45 00:02:06,720 --> 00:02:09,840 Speaker 2: that First up, we had the NZ Business Zone Performance 46 00:02:09,880 --> 00:02:13,360 Speaker 2: of Services and Index for July. It was up slightly 47 00:02:13,360 --> 00:02:16,520 Speaker 2: to forty eight point nine, up versus DUNE forty seven 48 00:02:16,520 --> 00:02:20,079 Speaker 2: point six. Good. That means things are less bad because 49 00:02:20,080 --> 00:02:22,600 Speaker 2: of reading below fifty. Still means the services part of 50 00:02:22,600 --> 00:02:25,720 Speaker 2: their climban is shrinking. Right, We're still contracting, so less bad, 51 00:02:25,760 --> 00:02:28,840 Speaker 2: but still bad. Secondly, we had the Reserve Bank and 52 00:02:28,880 --> 00:02:30,320 Speaker 2: ze On. They've come up with a new series. It's 53 00:02:30,360 --> 00:02:34,040 Speaker 2: a business Expectations so they and it showed inflation expectations 54 00:02:34,080 --> 00:02:38,120 Speaker 2: across businesses up slightly on the last month, unemployment rate 55 00:02:38,200 --> 00:02:42,640 Speaker 2: expectations down slightly, back on inflation businesses that talk about 56 00:02:42,639 --> 00:02:45,480 Speaker 2: two point six four percent inflation expectations for the next 57 00:02:45,480 --> 00:02:48,480 Speaker 2: two years. That's within the rbns IS target bands so 58 00:02:48,520 --> 00:02:52,400 Speaker 2: they can cut. Finally, the NZI Shadow Board, this is 59 00:02:52,440 --> 00:02:55,200 Speaker 2: the shadow of abn Z board. They have voted on 60 00:02:55,200 --> 00:02:57,480 Speaker 2: a zero point twenty five percent cut to three percent 61 00:02:57,520 --> 00:02:59,720 Speaker 2: on Wednesday. But even within the board there was a 62 00:02:59,720 --> 00:03:02,120 Speaker 2: bit of there's two of the board numbers said no 63 00:03:02,280 --> 00:03:05,600 Speaker 2: change five sid point two five percent and one said 64 00:03:05,840 --> 00:03:10,639 Speaker 2: a half a percent. The markets expecting twenty five basis 65 00:03:10,680 --> 00:03:12,160 Speaker 2: points on Wednesday, so it'll be a bit of a 66 00:03:12,200 --> 00:03:14,839 Speaker 2: surprise if they don't get at quarter of a percent cut. 67 00:03:15,280 --> 00:03:17,280 Speaker 1: Absolutely, Shane, as always, thank you so much. Talking to 68 00:03:17,320 --> 00:03:19,400 Speaker 1: you Yain next week, Shane Sally Harbor Asset Management. 69 00:03:19,960 --> 00:03:23,120 Speaker 2: For more from Hither duplessy Alan Drive, listen live to 70 00:03:23,240 --> 00:03:26,280 Speaker 2: News Talk said B from four pm weekdays, or follow 71 00:03:26,320 --> 00:03:28,080 Speaker 2: the podcast on iHeartRadio.