Great post !
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Hey Percy .....MPG and MVN even stevens at a buck each
Looks like we need to think of this as a going backwards race
Reminder to self - downgrades come in threes!
FBU is latest proof.
They have already confirmed guidance for the first half so if there's a downgrade it will be for the 2nd half. I wouldn't be that surprised if there was a disappointing 2nd half. It's FY19 I'm more interested in and they'll really be no excuses for poor performance then. They're getting one last chance from me :)
Metro go on about this 3 quarter lag between consents and their own activities
Sort of suggests F19 could see activity in NZ being less than F18 (in line with how consents are currently trending)
Maybe F20 might be their big year
nonetheless Metro still making heaps of money
Interestingly from a TA perspective despite all the talk they never broke through their 30 day MA in the last couple of weeks and as such are still in a confirmed downtrend.
Please to be out as I think this sector is riddled with issues including not the least of them being an undersupply of quality staff, (FBU's management included).
Some reasonable transactions the last couple of days - another SPH notice coming?