South Island Index: 15th edition
Review of performance during the quarter to 30 September 2011
Welcome to the 15th edition of the Deloitte South Island Index. In this edition we reflect on the performance of South Island listed companies during the quarter to 30 September 2011.
The Deloitte South Island Index declined in third calendar quarter of 2011 by $545.5 million or 10.4% in market capitalisation on the previous quarter. The total market capitalisation for the index now stands at $4.694 billion – 1.1% higher than a year ago.
Paul Munro, a corporate finance partner in Deloitte’s Christchurch office, says the Deloitte South Island Index clearly hasn’t been immune from difficulties affecting markets the world over.
Warning signs of global economic deceleration, concerns over the Eurozone sovereign debt crisis, the US Government’s credit rating downgrade and New Zealand’s double downgrade have all played their part in the index’s decline.
“Nonetheless, the longer term picture for these companies is positive, particularly with the predicted economic upturn from construction activity associated with the Christchurch earthquake recovery in the year ahead.”
If you would like to speak to someone about the Deloitte South Island Index, please contact Paul Munro.