StockTalk

Quote from: HAWKDOG on May 29, 2026, 08:49 AMThe govt needs to stop or reduce tax on investment income if they want Kiwis to save more for retirement.

Turkey is look pretty good:

...

Hmm - a basically unchecked autocrat running the show and controlling the judges. Can't control however the inflation - more than 30% at the moment.

Turkey is great if you want to loose your money and your freedom.

I wouldn't call this "looking good". Maybe you should recommend as well investments into North Korea and Gaza ...

Steady as she goes....

https://www.nzx.com/announcements/473556

Highlights include:
 •FY26 Platform Subscription Revenue ~NZ$19.2m (+33% vs pcp) — FY26 guidance of approximately 35% subscription revenue growth materially delivered.
 •Positive underlying EBITDA achieved in the month of March 2026 — FY26 guidance delivered.
 •FY27 guidance for similar levels of growth for Platform Subscription revenue.
 •Exit Run Rate (ERR) of Platform Subscription Revenue ~NZ$20.7m annualised at 31 March 2026 (+18% vs pcp; +21% in constant currency). Noting one larger, long-term communications customer completed a project in 4Q aided by IKE technology. This was announced to the market early in the FY26 year. This national group remains a customer, and excluding this project completion ERR Platform Subscription Revenue would have exited the year at +30% in constant currency.
 •FY26 Total Revenue ~NZ$26.6m (+6% vs pcp)
 •Gross margin percentage increased to ~80% (up from pcp of 69%). Platform Subscription Gross Margin ~94%.
 •FY26 gross margin of ~NZ$21.3m (+22% vs pcp)
 •EBITDA at NZ$(4.99m) vs pcp of NZ$(6.88m)
 • Total Cash of ~NZ$32.8m (ahead of the ~NZ$32.3m reported at 3Q FY26), net receivables ~NZ$4.6m and no debt at 31 March


ps - Listened to the update meeting this aft.
-The increase in Gross margin from 69% to 89% is seen as a v favourable development that will keep IKE cash flow positive and able to increase CAPEX inline with growth expectations without effecting profitability.
- AI still allowing software development at cheaper costs.
- IKE still only reaching 5% of the addressable market

A good result,Gaining momentum;
Sales up 22.8%. Total Group sites (Esquire branded) increased by 18%
• Full year Group store sales of NZ$95.8m in the UK & Ireland, up 22.8% (FY25: NZ$78.0m)
• EBITDA increased to NZ$1.3m (FY25: NZ$1.21m) . Normalised EBITDA on continuing business
NZ$1.69m up 27%.
• Revenue increased 84% to NZ$12.4m (FY25: NZ$6.7m)
• Revenue excluding Dairygold sales increased 22.4% to NZ$5.7m
• Dairygold managed stores contributed NZ$5.3m of sales (FY25: NZ$1.0m)
• Debt reduced from NZ$4.2m to NZ$2.5m
• Debt to total assets reduced from 11.5% to 7.4%
• Total Group sites increased to 105 across the UK and Ireland, up 18% from 89 sites at 1 April
2025

Looks like our banking fees will be going up as well with NW new tax on banks to fund the FED - she is stupid enough to think the banks won't pass it on to us.

The govt needs to stop or reduce tax on investment income if they want Kiwis to save more for retirement.

Turkey is look pretty good:

Turkey's parliament passed a massive tax reform package designed to attract international capital, expats, and global businesses. The centerpiece is a 20-year tax holiday on foreign-sourced income, alongside significant cuts to corporate taxes for exporters and a new wealth amnesty program.

Key Elements of the New Rules

20-Year Foreign Income Exemption:
Individuals who have not been Turkish tax residents for the previous three calendar years are eligible for a 20-year exemption on qualifying foreign-source income (e.g., overseas dividends, capital gains, and rental income).

Effectively 0% Tax for Remote Workers:
 For international professionals working remotely in Turkey who service foreign clients, a new provision allows for a 100% tax deduction on qualifying foreign service income, bringing the effective tax rate on that revenue to zero.

Reduced Inheritance Tax:
Qualifying new residents and returning citizens benefit from a flat 1% inheritance and gift tax rate, down from the standard graduated rates of 1% to 30%.

Corporate Tax Cuts for Exporters:
Manufacturing exporters now enjoy a lowered corporate tax rate of 9% (down from the standard 25%), while other exporting companies are taxed at 14%.

Wealth Amnesty Program:
Taxpayers can declare undisclosed cash, securities, and assets held abroad through Turkish banks with a base tax rate of 5%. This rate can be reduced to 0% if the assets are kept in qualifying Turkish financial instruments for at least 5 years.

Note: Domestically generated income in Turkey remains fully taxable at standard progressive rates (15% to 40%).

An excellent second half after the difficult first half.
• Revenue and income: $81.7m, down 0.3%
• Gross margin: $17.4m, down 2%
• Vehicle sales: 7,239, compared with 7,675 units in FY25
• EBITDA including finance income: $8.1m, up 1%
• Net profit after tax (NPAT): $3.2m, compared with $3.3m in FY25
• Underlying earnings per share (EPS): 7 cents per share (cps), unchanged from FY25
• Final gross dividend: 3.99 cps
• Total FY26 gross dividend: 6.14 cps vs 6.03 cps

Quote from: Left Field on May 28, 2026, 05:00 PMHere's how the last 10 yrs looked based on SP only.

Probably better returns than bonds!   

Abzolutely, vhich proves my point.  Bonds do not tend to go up een value like zhat, nor do they go down, like Zky Zity.   The vact zhat you chose Visher and Paykel Healthcare as a illustrative example zimply zhows you are a very good retrospective investor.

RB

Quote from: Basil on May 28, 2026, 06:03 PMNicola Willis signals that Superannuation is a time bomb.  Will go into the election with a new approach, (yet to be announced). 

Good, I have told my kids to expect nothing from the government and plan accordingly.  If nothing is done we could end up like Mexico which has announced to the shock of many young ones that from a date there will be no more super. The left needs to open their eyes and look at this as well..

Nice chart LF. Says it all. People have different investment timeframes and some favour high dividends (riskier in my view) over long term tax-free capital gain. But as your graph shows, if you pick the right companies, and stick with them, you can make more money, more safely. Given the pretty much relentless climb of IFT I'm predicting that its SP will surpass FPH's in 5 years or so. 

Nicola Willis signals that Superannuation is a time bomb.  Will go into the election with a new approach, (yet to be announced).