Financial news comes to the fore this week as politics put to one side

Investor focus will shift from the election to financial news this week, mainly on corporate earnings and how businesses were performing in the real world, Craigs Investment Partners broker Chris Timms said.

Fonterra reported an 11% fall in full-year profit as margins fell across its ingredients and consumer and food service divisions. The co-operative's profit was $745million in the year ended July 31 from $834million a year earlier.

Sales rose to $19.2billion from $17.2billion, cost of sales to about $16billion from $13.6billion.

Abano Healthcare held its annual meeting yesterday when chairman Trevor Janes updated investors on the capital raising and sale by Healthcare partners of its entire Abano shareholding.

``This has been a significant relief for the company and brings to an end the protracted period of responding to a disaffected and antagonistic shareholder who has been very disruptive for the company.''

Retailer Kathmandu reports its profit this morning and Hallenstein Glasson is holding its annual meeting later today.

Between those two companies, investors should get a clear picture of retailing in New Zealand.

There were several other annual meetings taking place that could mean further commentary emerging about trading conditions, Mr Timms said.

Abano Healthcare, Vector, Moa, Trilogy and Air New Zealand hold their annual meetings this week.


 

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