The annual market capitalisation gains by 32 listed, South Island companies have risen by $835 million, or 25%, on a year ago, the Deloitte South Island index shows.
The firms included three niche-market Dunedin companies; these increased their respective values by at least 80%.
While the larger listed firms were mainly responsible for the gain, more than half the 32 companies increased or maintained their market capitalisation, Deloitte's corporate finance manager, Paul Munro, said in a statement yesterday.
"The past year has, on the whole, been positive for listed companies.
"This indicates the recession is technically over, but the outlook for the economy is still uncertain," he said.
A "stand-out" performer for the year included Ryman Healthcare, up 46.8% or $330 million.
The top five for the year to March, ranked by market capitalisation, were Ryman at $1.03 billion, up 46.8%; Kathmandu Holdings at $496 million, up 16.3%; PGG Wrightson at $439.9 million, up 46%; Pyne Gould Corp at $371.3 million, up 109.2% and Ebos Group at $324.7 million, up 46.5%.
Share value increases during the past year in Dunedin companies included Pacific Edge Biotechnology's market capitalisation leaping 210%, to $34.7 million; Blis Technologies increasing 87%, to $13.5 million and Scott Technology gaining 80%, to $37.6 million.
Mr Munro suggested the South Island may have been trailing the North Island in growth, because most improvement in the South Island was in the last six months of the period, when figures grew 20%.
While export companies may see opportunities in the year ahead, he cautioned growth would be "patchy and volatile".
Companies where market capitalisation fell between 40%-50% during the year were New Zealand Farming Systems Uruguay, Windflow Technology, Connexions, New Zealand Windfarms and New Zealand Wool Services International.
Dunedin-based Botry Zen was accredited with a 33.5% decline in market capitalisation, for the year to the end of March.
However, it was delisted from the stock exchange last week, having been placed in receivership last December owing about $2.6 million.
