Three companies I like on the New Zealand Stock Exchange at the moment are:
1. New Zealand Refining (NZE: NZR)
Their current price of NZ$2.10 looks good buying. This company refines 70% of fuels used in NZ, including the majority of the diesel and jet fuel. It's been around a long time and always delivers for its shareholders which include a couple of large oil companies (Mobil and BP). Yes, I own shares in NZ Refining.
2. Mainfreight (NZE: MFT)
From their humble beginning in the 1970's, Mainfreight has come to dominate domestic NZ freight services and they now have global reach. They have a high P/E and that may put some off, but the company rarely puts a step wrong. No, I don't own this one, but nevertheless it's a good company.
3. Steel & Tube (NZE: STU)
They do as the name suggests, supply steel and tube. Why such a low share price? They've been having trouble over steel they supplied that wasn't to grade. Nothing wrong with the steel mind you, just not as labelled. They've taken a hit as a result. I like companies that take a hit but with nothing wrong with the underlying business itself.
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