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From: | Mike Hudson <mikehudson@clear.net.nz> |
Date: | Thu, 28 Feb 2002 09:55:51 +1300 |
Hoop
I own a few of these but I have mixed feelings. On
the one hand they are growing steadily through aquisition which is quite
exciting as potentially they could be a serious player in the finance
sector but on the other the underlying profitabilty seems to be sliding;
the profit increases in recent times have been generated either
by tax adjustments or by the change of accounting treatment in the
insurance subsidiary.
I will go along for the ride but with nowhere near
20% of my portfolio committed
Cheers
Mike H
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