Hi 7, still watching this?Instos & others starting to take some...

Hi 7, still watching this?

Instos & others starting to take some interest after the 2006 numbers and the recent briefing & AGM. Shaw's put a report out last week, and I believe at least one other broker will be doing so soon. Recent gains have been very nice.

It's a high margin business alright - as the AGM presentation showed, if the AU market penetration can get to be a fraction of the NZ market share, they'll grow thru the roof. That said, the AU regulatory framework, tax system & advice channels are very different to NZ, so it might not be as easy as it was/is over the Tasman??

Also stated at AGM that they're working to reduce expense/income from 56% to 40% LT - let's see!

Just the ramblings of an interested holder... so of course, DYOR!