13 Mar 2012

Earnings season shows signs of steady growth

1:30 pm on 13 March 2012

The earnings season for the first six months of this financial year is almost over.

Retailers Pumpkin Patch and Kathmandu still have still to report their half-year results, but so far New Zealand's biggest listed companies are showing signs of steady growth.

Craigs Investment Partners head of private wealth research Mark Lister says that, overall, it is a solid set of results.

Predictably, he says, the weak results were from those companies reliant on the construction or retail sectors or which were associated with the Christchurch rebuild.

Mr Lister says the economic recovery is slowly gaining some steam and most companies are in good shape with low debt levels.

He says the outlook is still cautious, with global risks and a high New Zealand dollar.

Mr Lister says most of New Zealand's good-quality companies put forward cautiously optimistic outlook statements including Trade Me, Auckland Airport, Port of Tauranga, Telecom and Chorus.