Wednesday, August 28, 2013

What a Shame

There will be gnashing of teeth in the Labour/Greens/Loony camp this morning.

Newly listed SOE, Mighty River Power has delivered record profits and a record dividend for its thousands of lucky Kiwi share holders - an average of $1,680 per share holder.

Mighty River chairwoman Joan Withers said the company was able to deliver financial results above those forecast in the company's prospectus through sales growth, controlling costs and using the diversity and flexibility of its generation to offset the effect of a Waikato drought.
''[It has been] an intensive year for our company as we've made the transition from SOE to listed company, grown market share by adding value for our customers, and reported operating performance and financial results above forecasts,'' she said.

So much for their sabotage.

If you told them to blow up a railway, they'd take along a bike pump.


Edward the Confessor said...

What, so a dividend barely above the inflation rate and a 15% loss of principle in three months makes a great investment in your eyes? You're a financial wizard chief.

Adolf Fiinkensein said...

Ed the Con

Glad to see you now recognise the damage done to capital value by you and your saboteur friends.

Edward the Confessor said...

The policy announcement occurred before the float, so the government ripped off every kiwi Mum and Dad who bought shares by charging too much for them (despite wasting $100m on advice on the float). Played everyone for suckers.