HGH - Heartland Group Holdings

[winner (n)]

Big Deloittes Top 200 Awards dinner tonight ......everybody dressed up in their best gear etc etc

Finalists in the 2degrees Best Growth Strategy section are

Heartland
Comvita
Scales Corp

Jeez, tough call ...who'll get the bragging rights

[winner (n)]

COMVITA won Best Growth Strategy (heartland 2nd) at last nights Deloittes Top 200 Awards

Obviously David Banfield is a smooth talker and does better raves than our Jeff

Oh well, need to try harder Jeff

[lorraina]

Incredible......
lol sums up my thoughts.

[winner (n)]

Incredible......
lol sums up my thoughts.

I didn't want to say I laughed my head off when I heard that

Jeff needs to come up with something like Comvita's POISED FOR TAKEOFF .......and progress their BCorp cert

[Basil]

Reminds me of when Rod Drury won the award for Xero without it ever making a profit and at that time losing tens of million per annum.  (Still struggling all these years later)  Who are these Muppets that give out these awards and don't they realize that ongoing growth in earnings is what really matters, not how many ESG goals they tick off a checklist.

Who should have won the award?  Well, I'd happily nominate Turners which has shown remarkable growth in the years since the very popular Tina campaign started.  They won the marketing awards last year, but I'd argue they deserve this accolade as well.  Maybe next year when they crack the $50m profit mark.

[winner (n)]

Hey Basil ....big year for Xero at those awards

Last night the muppets made Xero Company of the Year and the CFO was CFO of the Year

Cool eh

[BlackPeter]

Reminds me of when Rod Drury won the award for Xero without it ever making a profit and at that time losing tens of million per annum.  (Still struggling all these years later)  Who are these Muppets that give out these awards and don't they realize that ongoing growth in earnings is what really matters, not how many ESG goals they tick off a checklist.

Who should have won the award?  Well, I'd happily nominate Turners which has shown remarkable growth in the years since the very popular Tina campaign started.  They won the marketing awards last year, but I'd argue they deserve this accolade as well.  Maybe next year when they crack the $50m profit mark.

Anybbody still remembering when Peter Harris won the entrepeneur of the year award in 2017 and one year later the Reserve Bank had to shut down his firm? - Now, this did demonstrate how useful all these awards are.

Though maybe they are useful, something like a red flag? Run for the hills?

[Basil]

Hey Basil ....big year for Xero at those awards

Last night the muppets made Xero Company of the Year and the CFO was CFO of the Year

Cool eh

Who are these sick people?

[winner (n)]

Who are these sick people?

Judges were

Fran O'Sullivan (Enough said)
Jonathan Mason
Neil Paviour-Smith
Ross George
Hinerangi Raumati-Tu'ua

https://top200.co.nz/judges/

[BlackPeter]

Judges were

Fran O'Sullivan (Enough said)
Jonathan Mason
Neil Paviour-Smith
Ross George
Hinerangi Raumati-Tu'ua

https://top200.co.nz/judges/

Good to see they had appropriate Maori representation on board. On the other hand - the female quota looks a bit thin ...

[KW]

Anybbody still remembering when Peter Harris won the entrepeneur of the year award in 2017 and one year later the Reserve Bank had to shut down his firm? - Now, this did demonstrate how useful all these awards are.

Though maybe they are useful, something like a red flag? Run for the hills?

Similar to the Time Person of the Year.  They are usually in jail shortly thereafter lol. 

[Basil]

Maybe Taylor Swift https://www.latimes.com/entertainment-arts/music/story/2023-12-06/taylor-swift-time-person-of-the-year-2023-makes-history will be next to be arrested for tax fraud after Shakira lol

[Left Field]

Downgrade....... hands up who saw this coming........ but don't worry they are "positioning for the next stage of growth."

Livestock struggling....

https://www.nzx.com/announcements/423497

Heartland has gone through a process of revising its FY2024 net profit after tax (NPAT) guidance to reflect the following:
• short-term operational performance challenges – which have an impact of $8 million to $10 million
• Heartland Bank Limited's (Heartland Bank) proactive response to issues affecting a subset of legacy lending via a post-COVID-19 overlay, a non-cash item – which has an impact of $11.5 million, and
• the expected FY2024 impact on underlying NPAT related to the acquisition of Challenger Bank Limited (Challenger Bank) , positioning Heartland for its next stage of growth (Challenger Bank NPAT) – which has an impact of A$3.5 million.
Heartland now expects NPAT to be in the range of $93 million to $97 million, excluding any impacts of fair value changes on equity investments held and the impact of the de-designation of derivatives. Excluding the impact of the (non-cash) post-COVID-19 overlay and Challenger Bank NPAT, the range is $108 million to $112 million, reflecting Heartland's underlying operational performance. The guidance range was previously $116 million to $122 million, excluding any impacts of fair value changes on equity investments held, the impact of the de-designation of derivatives, and any costs related to the acquisition of Challenger Bank.

Australian Livestock Finance

Livestock prices continued to fall in the first five months of FY2024 due to adverse weather conditions and drought concerns. Many producers destocked or consolidated debt from selling livestock at lower rates, while others retained livestock for longer periods to gain weight and recoup value. The resulting impact has seen growth challenges and compressed NIM for Heartland's Australian Livestock Finance portfolio.

[Greekwatchdog]

Thanks LF. I have been looking at buying back in, was concerned about the impact of the slow down eventually hitting the banks and of course the drought in Aust. No idea from here. Maybe will take a position early New Year....

No rush now..

[snapiti]

what a clanger....cant see the improvements they are touting  in the next half given the environment....
wont be rushing in and buying anytime soon....profit downgrades come in 3's