14 Apr 2010

South Island companies boost performance

7:01 am on 14 April 2010

An index tracking the performance of South Island-based companies shows firms boosted their performance last year, but many remain cautious about the road ahead.

The Deloitte South Island Index tracks 32 listed companies based in the South Island, including Ryman Healthcare, Kathmandu, PGG Wrightson, Silver Fern Farms and Pike River Coal.

The index rose by a quarter in the year to the end to the end of March, taking the total market capitalisation to almost 4.2 billion.

The index's growth was on par with a 26% rise in the NZX.

Deloitte corporate finance partner Paul Munro says more than half of the companies monitored maintained or boosted their market capitalisation during the year, but overall, growth in the South Island was previously lagging.