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Re: [sharechat] RE TWR

From: "nick" <>
Date: Tue, 26 Feb 2002 05:47:41 +1300

   The fundamentals of tower are ok and for the long term they are probably a good bet. However as you and mr p both point out the stock hasnt relly moved from a shareprice perspective  Earnings growth is forecast at about 7% while the p/e is only 11 this means the share is on the cheap side. Heres some info on the company i picked up at sharechat. All up they look a reasonable prospect, the fact that the shareprice hasnt moved in the past is irrelevent/ The company is doing good which in the long run is what counts.
TOWER Group has been one of the fastest growing financial services businesses in Australasia for more than 10 years.

Through a successful policy of organic growth and strategic acquisitions and mergers, TOWER has established itself as one of New Zealand's most dynamic companies. It currently has more than NZ$22 billion in group assets under management.

TOWER continues to rapidly expand its activities and build its position as a strong competitor in the savings and investment, asset management, insurance and trustee services markets.

Over the past nine years, TOWER has also developed a strong and growing presence in the Australian market. Today, over 70 per cent of TOWER's revenues are generated from outside New Zealand.

This outstanding achievement is a result of a planned and focused corporate strategy which emphasises several key factors:

  • TOWER offers an excellent and competitive portfolio of products across the range of financial services needs, in risk insurance, savings and investment, asset management and trustee services.

  • TOWER delivers on the promise of its products. The company is regularly recognised for excellence in investment management; it is an acknowledged leader in life insurance markets; quality product design and the satisfaction of customer needs are high priorities.

  • TOWER applies a vigilant focus on productivity. Management of the cost of doing business is a vital aspect of providing competitive products to the market and positive returns to shareholders. Driving high rates of productivity is a key element in building a competitive edge and underpinning sustainable productivity.

  • TOWER leverages technology to generate competitive advantage in product distribution, customer services and administration expenses. In particular, use of telecommunications technology in the sale and distribution of products is very well advanced. Direct and internet sales are expected to grow rapidly, with half of TOWER's revenue expected to be generated from these channels by 2003.

  • TOWER operates a strategy of organic growth and strategic acquisitions and mergers. Organic growth is driven through re-investment in business development. Strategic growth results from well considered - and largely internally funded - investment in key businesses, controlled growth rather than growth at any cost.

Acquisition of life insurance, fund management and trustee businesses was the basis for TOWER's successful move into Australia. TOWER Insurance is also represented in the Pacific in Papua New Guinea, Fiji and the Cook Islands and the Solomon Islands.

TOWER's growth policy now encompasses the People's Republic of China, where it was granted Resident Representative status in May 2000, and where it is now looking for opportunities to share knowledge and technical expertise with local partners.

TOWER Limited is listed on the New Zealand and Australian Stock Exchanges and has corporate offices in Wellington and Sydney.



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