F&P Healthcare rated top value

Medical equipment-maker Fisher & Paykel Healthcare has topped a PricewaterhouseCoopers corporate value report of New Zealand's top 68 listed companies.

The report used 11 criteria to rank the companies, which had a minimum market value of $38 million.

These included total shareholder return, liquidity and volatility, price-to-earnings ratios and revenue growth.

PricewaterhouseCoopers corporate finance partner David Bridgeman said F&P Healthcare delivered best overall value for shareholders because it had relatively low financial risk, high intangible asset intensity and solid growth.

Joining it at the top of the report were Sky Network Television and rubbish collection and landfill company Waste Management.

It is the fourth year PricewaterhouseCoopers has compiled the report. It confirmed the stock exchange's continued strong performance, with a median return in the year to June 30 of 23 per cent compared with 20 per cent last year.

Almost 82 per cent of companies delivered positive results compared with 90 per cent last year.

First fifteen

1. F&P Healthcare
2. Sky Network Television
3. Waste Management
4. New Zealand Refining
5. SkyCity Entertainment
6. Fletcher Building
7. NGC Holdings
8. Telecom
9. New Zealand Oil & Gas
10. Ryman Healthcare
11. Freightways
12. Hallenstein Glasson
13. Pumpkin Patch
14. Michael Hill International
15. Steel & Tube Holdings