South Island Index: 17th edition
Review of performance during the past three years
Welcome to the 17th edition of the Deloitte South Island Index. In this edition we reflect on the performance of South Island listed companies during the past three years, aswell as for the quarter to 31 March 2012.
The Deloitte South Island Index had a significant increase in the first calendar quarter of 2012 by $323.9 million or 7.1% in market capitalisation on the previous quarter. The total market capitalisation for the index now stands at $4.9 billion – $1.27 billion or 35% higher than three years ago.
Paul Munro, a corporate finance partner in Deloitte’s Christchurch office, says the performance of the index for the year to March 2012 reflects problems associated with the reconstruction effort in Canterbury, the European debt crisis, and the downgrading of New Zealand’s long-term credit rating.
But Mr Munro says there is cause for “cautious optimism” based on the Index’s performance during the past six months, particularly the gain in the quarter to 31 March 2012.
“Another positive that can be drawn is that during the past three years the Deloitte South Island Index has compared favourably to the indices it is benchmarked against in New Zealand and against those of our main trading partners.”
If you would like to speak to someone about the Deloitte South Island Index, please contact Paul Munro .