Steve Jurkovich

More and more around New Zealand, you see shops that are empty and up for lease.

At the end of the day, there's an investor behind those.

or a store owner who's decided that actually this is pretty hard going, has been hard going for five years, maybe I don't want to sign up and guarantee that lease for another five years.

Yeah, I do.

I think the essence of what you're saying is absolutely true, that regardless of the sector, regardless of the business, they'll always be great performers.

I think what we see is those that are embracing technology, trying to make sure that their store has got a really compelling online offer, that they're really ahead of productivity where they can with the right tools, they are making ground.

I also think there's a fantastic bunch of high-tech companies, agri-tech companies that are going great guns and selling into global markets that have got massive opportunities.

So the transition is the trick, I think, Mike, when you're trying to move from a business that,

Yep.

I think that's definitely a very possible outcome.

And I think any sort of idea where there's uncertainty, again, uncertainty around building, uncertainty is this project going to get off the ground, is really tricky.

And as you say, inevitably it has a tail on it, which means in a couple of three years, there's not stock that we need.

Yeah, I think by the end of the year and early into the next year, I think we'll be in much better shape.

I mean, the problem is you just can't rely on any announcement that you see at the moment, can you?

And so I do think one of the positive things is that it's a bit like if you're used to flying, you get used to the turbulence.

And I think markets like the S&P 500 and that obviously are very used to turbulence because they seem to want to keep on going.

Steve Yerkevich, who's the Kiwi Bank chief executive.

We've seen some areas in parts of Europe 10 to 15 degrees above where they should be for this time of year.

It's very unusual in the UK to see temperatures of 30 degrees in May.

So those are numbers we're coming through anyway, but there is no doubt that...