My largest holding, Sky City Entertainment [SKC.NZ] is doing well at the moment.For the six months ending 31 December 2008 profit was tracking last years' half and I have been telling anyone who would listen at every opportunity that it is a good buy at current share price levels .
With the interim report out today comes the news that gaming revenue at Auckland Casino is up by 4% while Adelaide and Darwin are up by around 14%.
Great news considering the economic downturn.
Lion Nathan [LNN.NZ] the Australasian brewer, majority owned by Japan's Kirin is keeping its head above the foam well with drinkers of their product reaching for a cold one more often and when they do its one of those fancy "premium" beers that poofters and women drink-it works for them though.
Profit was up 4% for the 2008 full ear.
Unfortunately Lion Nathan's share price reflects their strong position in the current economy and is near its highs.
Another stock that has done well share price wise during this current downturn is Restaurant Brands [RBD.NZ] Believe it or not its stock has gone up over the overall market downturn-its big drop ironically came before the recession.
The operator of Pizza Hut, KFC and Starbucks in New Zealand has been selling its product better than it does normally-a temporary thing methinks-because of the recession so says its usually media shy CEO. Diners are apparently "trading down", every chicken has its day I guess.
These are the only 3 "sin" stocks listed on the NZX (Restaurant Brands is considered one by the food Nazis so I respectfully put it there) and they will do well in any downturn.
People like to gamble, drink, smoke, have sex and eat "junk" food and they especially like to do these things during a recession.
If you are reading this from another market consider tobacco, oil and sex related stocks if you have them listed on your local bourse.
They well might give you a lift.
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