Yes, mostly bought at over $3 and now only some left - the rest sold to the likes of Rod Duke and Jane Cameron at huge losses. Not to Carmel Fisher personally of course - just the unfortunate minnows who were superbly netted into her funds by slick PR and media relations.
Any predictions for the result that's a week away? ... I'm seeing a leap to about 1.35 or more. But, the last market update was very cunningly worded so without the full detail it could be much, much better (or maybe a tad worse) than the market currently expects.
If they reinstate the dividend, and announce say a 3 cent dividend, I think it will pop. Recent rally has been driven a by a few institutions taking positions, so more good news could see us at $1.50.
Headline NP doesn't look that flash until you strip out the non-cash items that relate to cash burn from previous years. PPL's generating heaps of cash again. They could have paid a divie but I guess mgt wants to keep a cash buffer in case GFC2 (lead by media and insiders) means people close their wallets again. Sahme they still can't get their FX sorted. Sales are down a bit in some areas and this is a concern (but not much of one at this juncture except in Oz).
I note the Mr Mkt is responding by dropping 5c to 1.13 ... Don't these people read the detail in the accounts? ... Actually, that may not be completely fair as I've yet to plug the numbers into my spread sheet but it doesn't seem right to me. 41m in cash generated vs last years paltry
Operating cash flow was $14m belg ....and they had $7m of capex so essentially fre cash of $7m ....still better than last year
Today's press has them telling Aussie landlords cut the rent or get a new tenant ....we not signing 7 year leases at these rates on marginal stores .....so there
Operating cash flow was $14m belg ....and they had $7m of capex so essentially fre cash of $7m ....still better than last year
Today's press has them telling Aussie landlords cut the rent or get a new tenant ....we not signing 7 year leases at these rates on marginal stores .....so there
My brother, who lives in Hobart, has just returned from his winter mainland trip.Drives up the middle from Melbourne and then over to the coast up by Townsville,then comes all the way down the East coast. His comments "A lot of empty shops everywhere."Westfield are trying to get fashion retailers rent up to 30%,yes 30% of their turnover.Add staff costs of up to 15% of turnover and things start to get rather tight.Therefore online becomes very attractive.!!!!!!!!!!!!
Last thing you want in retail is an empty shop next to you.
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