Jeremy Hutton: Milford Asset Management equities analyst on the companies being affected by Cyclone Gabrielle

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Recorded15 Feb 2023

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New NZX data suggests that several companies have been hit hard by Cyclone Gabrielle. Fletcher Building has claimed adverse weather conditions will likely affect their year-end profits, and Vulcan Steel, and Steel & Tube have reported a reduction in orders due to Cyclone Gabrielle. Horticulture companies such as Scales and Mr Apple are also losing stock due to floods damaging orchards and fields, but it's too early to determine the extent of the damage. Milford Asset Management's Jeremy Hutton says this burst of extreme weather will likely negatively impact the Reserve Bank's decision when it comes to next week's OCR decision. LISTEN ABOVESee omnystudio.com/listener for privacy information.

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