Share Investor

Friday, November 5, 2010

Telecom New Zealand 2011 first quarter profit review

The Telecom New Zealand Ltd [TEL.NZX] first quarter 2011 result out today of NZ$103 million after tax is 36.8% lower than the result for the same period last year. This comes on revenue of $1.316 billion, down 2.9% on last year.

This comes in a year of turmoil for the company where its share price plunged and regulatory issues continued to hamper growth and future planning.

Telecom CEO, Paul Reynolds, said operational performance was "satisfactory with good cost control offsetting significantly higher regulatory costs and intensifying competition."

I see more of the same for full year 2011. With a stagnant to dropping revenue base the only way profit can grow slightly or stay at current levels is to cut operational costs further. Not good for the long-term.

Key Points

Net profit: 103,000; Down 36.8%; 163,000

Total operating revenue (before adjusting items): 1,316,000; Down 2.9%; 1,356,000

Earnings per share: 5 cps; 9 cps

First Quarter Dividend: 3.5 cps

Increased competition impacting on margins

Management appear reticent to make too much of future profit levels because of probable impacts of the rollout of the fast fibre network, but they have indicated a small increase in earnings before tax for 2012 - 2013.

2011 Profit Detail

Transcript from Investor Briefing
Management commentary
Presentation
Accounts

Telecom NZ @ Share Investor

Telecom Chart: Lazarus Recovery on lower volume
Telecom maybe oversold
Telecom NZ Share Price has "Jumped the Shark"
I was Wrong... sort of
Telecom NZ: TV3 60 Minutes Segment more like Corporate PR
Telecom Share Price Limbos but has it jumped the Shark?
Telecom NZ: Saint Gattung gets her Ya Ya's out
Telecom NZ: Bye Bye Paul Reynolds
Long Term View: Telecom NZ Ltd
Stock of the Week: Telecom Ltd
Revisiting Telecom
Getting cute and fluffy with Teresa Gattung
Telecom NZ Hangs up
Business Gobbledygook puts up barriers to communication
A Rare Breed
Telecom NZ facing a watershed period
Biology a major key in "glass ceiling" for women
Telecom rewards Gattung for mediocrity

Download TEL Company Reports
Discuss TEL at Share Investor Forum - Register free

From Fishpond.co.nz

Buy Bird on a Wire: The Inside Story from a Straight Talking CEO & more @ Fishpond.co.nz

c Share Investor 2010

Thursday, November 4, 2010

Sky City Entertainment Group Ltd: Never mind the width feel the volume

Sky City Entertainment Group Ltd [SKC.NZX] shares have put on more than 10% since last Friday when a positive first quarter 2011 market update. It was trading at $2.90 the day before the news and traded at $3.20 at close of business yesterday. (see one month chart above)

I am a bit annoyed because I am a long term shareholder, I know things are going well for the company and the share price was looking like weakening before this positive news. I was hoping to buy more with the Share Investor Portfolio dividend pool.

Be that as it may the rally in the share price looks to be a sustainable one, at least for the short term. I say this because the first day of trading after the news volume was well up on the average and has increased steadily since then and thus far has peaked at just over 8 million shares traded yesterday. Nearly $50 million in shares have been traded in the 4 days since, compared to $12 million in the 4 days prior.

Depending on the fallout from today's Fed quantitative easing, it is looking like another positive day for the stock again today.

For those of you into this stock short term, watch for the volume movement to give you an indication of when to bail.

Looking like a great update for the portfolio update on Monday.

Sky City Annual Meeting Docs & Related Reading

Wednesday, November 3, 2010

List of schools ignoring National Standards

Below is the list of schools that will ignore national standards to be brought in during 2011. There are 225 schools out of just over 2000 which are ignoring the standards and should be avoided by parents if possible as the teaching standards and levels of education will generally be lower than at the other schools who will adopt the standards.

The teachers and principals at these schools do not want to tell parents how their kids are doing and therefore how well they are being taught.

These schools are also ignoring their direct employers, the Government and their indirect employers, parents, who wanted national standards when they voted National in 2008.

This is clearly a sackable offense. You can bet if I was an employee my employer would send me down the road for disobeying my directives.

This comes on top of teachers unions disrupting the education of 10s of thousands of children as they go on strike to get massive wage increases.

The List

Wellington
School Region
Birchville School
Avalon Intermediate
Martinborough School
Island Bay School
Taita Central School
Lyall Bay School
Paekakareki School
Fergusson Intermediate
St Michaels School Taita
St Bernadettes NaeNae
Koraunui School
Pomare School
Waitohou School Otaki
Maidstone Intermediate School
Miramar North School
Trentham School
Waikanae School
Mangaroa School
Wainuiomata Primary School
Natone School
Wainuiomata Intermediate
Corinna School
St Joseph's Levin
Bishop Viard
Windley School
Papaparaumu Beach School
Clyde Quay School
Khandallah School
Holy Family School
Brandon Intermediate

Tai Tokerau
Ruawai School
Kaiwaka School
Horeke School
Whangarei Intermediate
Kaitaia Primary School
Hikurangi Primary
Moerewa School
Kaikohe Intermediate School
Kawakawa School
Kaikohe East Primary
Paihia Primary
Maungatapere School
Whau Valley Primary School
Selwyn Park
Hora Hora Primary School
Totara Grove
Peria School
Kaeo Primary
Oruaiti School
Oromahoe School
Oturu School
Kamo Intermediate
Tauhoa School
Pukenui School
Kaitaia Intermediate
Pamapuria School
Ruakaka School
Tomarata School
Kohukohu Primary School

Canterbury
Ruawai School
Kaiwaka School
Horeke School
Whangarei Intermediate
Kaitaia Primary School
Hikurangi Primary
Moerewa School
Kaikohe Intermediate School
Kawakawa School
Kaikohe East Primary
Paihia Primary
Maungatapere School
Whau Valley Primary School
Selwyn Park
Hora Hora Primary School
Totara Grove
Peria School
Kaeo Primary
Oruaiti School
Oromahoe School
Oturu School
Kamo Intermediate
Tauhoa School
Pukenui School
Kaitaia Intermediate
Pamapuria School
Ruakaka School
Tomarata School
Kohukohu Primary School

Hawkes Bay
Flaxmere School
Nelson Park School
Peterhead School
Waipawa School
Bledisloe School
Irongate School
Pakowhai School

Southland
Ascot Community
Bluff Community
Donovan Primary
East Gore School
Fernworth Primary
Garston School
Isla Bank School
Lumsden School
New River School
Otautau School
Riversdale School
St Patrick's Invercargill
Salford School
Tisbury School
Waverley Park School
West Gore School

Waikato
Berkley Normal
Cambridge Primary School
Cargill Open Plan School
Deanwell School
Elstow-Waihou School
Glenview School
Gordonton School
Goodwood School
Hamilton North
Horotiu School
Kaihere School
Knighton School
Leamington School
Merivale School Tauranga
Morrinsville Primary
Newstead Model Country School
Opoutere School
Puahue School
Rangitoto School
Roto-o-Rangi School
St Columbas School
St Josephs School Waihi
St PiusX Catholic School
Tauwhare School
Te Kowhai School
Te Miro School
Te Rerenga School
Tokirima School
Waingaro School
Whenuakite School
Whitiora School

Auckland
Freemans Bay
Newton Central
Ponsonby Primary
Ponsonby Intermediate
Balmoral School
Dominion Road
Wesley Intermediate
Mt Eden Normal School
Edendale Primary
St Joseph's, Grey Lynn
Grey Lynn School
Westmere Primary
Valley School
Avondale Intermediate School
Sunnyvale School
Henderson North School
Willowbank School
Howick Intermediate
Anchorage Park School
Our Lady Star of the Sea
Sommerville Intermediate
Ramarama School
Konini School
Kelston Intermediate
Jean Batten School
Mangere East Primary
Manurewa South School
St Joseph's, Onehunga
Hillpark Primary School
Manurewa Intermediate
Clendon Park School
Randwick Park School
Greenmeadows Intermediate
Manurewa East School
Leabank Primary School
Takanini School
Mangere Bridge School
St Joseph's, Onehunga
Hillsborough Primary
May Road School
Mt Roskill Intermediate
Halsey Drive School
Monte Cecilia Catholic School, Hillsborough
Birkdale Primary School
Kauri Park School
Marlborough School
Vauxhall School
Target Road School
Torbay School
Beach Haven School
Sunnybrae Normal
Glenfield Primary
Murrays Bay Intermediate
Glen Eden Primary
Green Bay Primary
St Josephs Otahuhu
Fairburn Road School
Mt Richmond Special School
Otahuhu Primary School
Mayfield School
Flatbush School
Clover Park School
Bairds Mainfreight
Fergusson Intermediate School
Rongomai School
Chapel Downs School
Papakura Central School
Kingsford School
Papatoeote West School
Puhinui School
Papatoetoe Central
South Auckland SDA
Papatoetoe South
Snells Beach
Aka Aka School
Flanshaw Rd Primary
Swanson Primary
Finlayson Park School
Parkuranga Intermediate
Rowandale School

Otago
Waitati School
College St School
North East Valley Normal
Waihola District School
Green Island School
Musselburgh School
Macandrew Intermediate
Balaclava School
Cromwell School
Tahuna Normal Intermediate
Bradford School

c Darren Rickard 2010