This is a basic profile of an NZX50 listed company. It is not investment advice. We recommend you contact a qualified adviser if you need more information.
Tower Limited
Directory
| NZX code: | TWR |
| Short name: | Tower |
| Legal name: | Tower Limited |
| Industry sector: | Property and Casualty Insurance |
| NZX50 rank: | 41 of 50 |
| Head office address: | 136 Fanshaw Street Level 5, Auckland, 1142 |
| Chairman: | Michael Stiassny |
| Chief executive: | Blair Turnbull |
| Financial year ended: | September |
| Locations: | New Zealand, Fiji, Cook Islands, American Samoa, Samoa, Tonga |
| Auditor: | PricewaterhouseCoopers, Auckland |
| Bankers: | N/A |
Tower
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Financial statement history
A. Recent trading and performance summary:
| Total revenue |
NPAT | Earnings per share |
|
| fye March | mln | mln | cents |
| 2018 | $323 | ($7) | (2.1) |
| 2019 | $345 | $17 | 4.7 |
| 2020 | $377 | $11 | 2.6 |
| 2021 | $405 | $19 | 4.4 |
| 2022 | $437 | $19 | 4.4 |
| 2023 | $511 | ($1) | 0.6 |
B. Recent financial position summary:
| Total assets |
Total Liabilities |
Equity ratio |
|
| fye March | mln | mln | % |
| 2018 | $686 | $411 | 40 |
| 2019 | $703 | $411 | 42 |
| 2020 | $740 | $398 | 46 |
| 2021 | $802 | $453 | 44 |
| 2022 | $804 | $487 | 39 |
| 2023 | $946 | $646 | 32 |
C. Recent cash flows and positions:
| Cash inflows |
Cash outflows |
Cash and equiv. at year end |
|
| fye March | mln | mln | mln |
| 2018 | $45 | $27 | $102 |
| 2019 | $39 | $74 | $67 |
| 2020 | $42 | $22 | $80 |
| 2021 | $99 | $62 | $116 |
| 2022 | $60 | $87 | $85 |
| 2023 | $10 | $35 | $64 |
D. Recent key ratio analysis:
| Earnings per share |
Price: Earnings ratio |
NTA /share |
Dividend yield |
|
| fye March | cents | annual avg | dollars | annual avg % |
| 2024 | 10 | 12.4 | $0.62 | 2.2 |
Description of trading activities
Tower Limited provides general insurance products both in New Zealand and the Pacific Islands.There are many types of insurance products provided by Tower including car, house, contents, contract works, and renovation cover. For a full run down of insurance products follow here: TWR insurance products. Tower was first founded in 1869.
Chairman profile
Michael Stiassny holds both a Law and Commerce degree from the University of Auckland, he is also a Chartered fellow and past president of the institute of Directors. Stiassny has an extensive career in corporate governance currently the Chairman of 2 Cheap Cars Limited and a Director for Momentum Life Insurance limited, Tegal Group Holdings, and New Talisman Gold Mines Ltd. He is also a part of the Founders Advisory where he dedicated time into start ups and entrepreneurship opportunities.
CEO profile
Blair Tunrbull has spent over 20 years' in the financial services industry being based in New Zealand, Asia Pacific, and United Kingdom. In his most recent role, Turnbull was the Managing Director for UK Digital, UK and International for Aviva Group, and before that was the Executive General Manager for Wealth and Insurance at ASB Bank.
Links
| Company website: | Tower.co.nz |
| Investor information: | Tower Investor Centre |
| NZX listing: | TWR NZX |
| Annual reports: | TWR Financial reports |