Christchurch earthquake: Listed companies caught in the fallout

By Anne Gibson

Analysts at Macquarie Equities Research have published a snapshot of the toll the quake is likely to take on various NZX-listed companies.

The note estimates Christchurch contributes 15 per cent of GDP and says the quake will have widespread economic fallout for some listed companies.

One of the most affected would be Lyttelton Port. Costs would be large but damage was not quantified by the report.

Fletcher Building would gain in the 2012 financial year on quake remediation work. Engineering firm Opus was in the same category, winning from infrastructure and commercial damage, particularly in its transport and building design divisions.

Ryman Healthcare has 20 per cent of its retirement village operations in Christchurch. Damage was unknown, although the September 4 quake had minimal effect.

Goodman Property and Tourism Holdings has 9 per cent of its portfolio in Christchurch but Macquarie said its assets "have survived in relatively good shape, given above-code engineering".

Air New Zealand would suffer because Christchurch Airport was about 24 per cent of its domestic capacity.

Every flying day lost meant a revenue impact of $1 million, Macquarie calculated.

Kathmandu had its head office and distribution centre in Christchurch. Its large downtown store was shut.

Kiwi Income Property Trust has 14 per cent of its portfolio in Christchurch.

The impact on Auckland Airport would be small and mainly limited to domestic flight interruption to Christchurch. Michael Hill would suffer some store closures.

- NZ Herald

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