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Toughest since the GFC: Heartland’s ‘weak’ result

Economic headwinds don’t affect underlying foundation of Heartland, according to departing chief executive Jeff Greenslade.

Outgoing chief executive Jeff Greenslade.

Key points
  • Revenue: Up 1.8% to $290.4m.
  • Profit: Down 22% to $74.5m.
  • Main takeaway: Heartland reports weaker result than analysts had expected, after a particularly difficult May and June because of the economic slump.

Shares in Heartland Group fell today after the company reported a weaker profit amid a challenging economic environment, despite some recent light on the horizon.

Its net profit in the year ended June 30 was down 22% to $74.5 million, compared with nearly $96m last year.

One-off or non-cash technical

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Jonathan Mitchell Thu, 29 Aug 2024
Contact the Writer: jmitchell@nbr.co.nz
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Key points
  • Revenue: Up 1.8% to $290.4m.
  • Profit: Down 22% to $74.5m.
  • Main takeaway: Heartland reports weaker result than analysts had expected, after a particularly difficult May and June because of the economic slump.
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Toughest since the GFC: Heartland’s ‘weak’ result
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