as expected result except for the downgrade which might be a surprise for some.
due to there optimistic forecasting to date i will take next years with a grain of salt at this stage.
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as expected result except for the downgrade which might be a surprise for some.
due to there optimistic forecasting to date i will take next years with a grain of salt at this stage.
Had to laugh when new Chairman to be, Peter Griffiths, said that the bones of the business are good, trouble is that there's no meat on those bones.
Actually its more like $7.5m, not $6.5m and last year the second half was only c. $9m npat so its not that extraordinary.
Obviously some water to flow under the bridge and Mgmt have not earned the benefit of the doubt lately but at 8.5x earnings this has more upside than downside imho. We'll have to see if MPG can deliver the c. $19m FY18 npat and then they might earn a rerate back over $1.00
http://nzx-prod-s7fsd7f98s.s3-websit...585/270077.pdf
Apologies you are quite right. Second half forecast at the mid point of their forecast suggests ~ $7.5m, if they can make it ? Downgrades almost always come in three's.
H2 NPAT will be down between 7% and 24% (on the much touted normalised basis)
Worse than 6% drop in H1
All honky dory though
Gross Margin only 45% of sales odd compared to 51% last year
No worries ...fixing that at the moment ...in Australia as well as NZ
W69.
You remind me of the people who said the Titanic was unsinkable.
Awful presentation of the chart on the left. Should have done something with the scales to actually show what they wanted to. Very amatuerish
However just imagine the revenue line when consents hit the 35,000 they mention
Mind you they did say 'whilst market activity is difficult to predict, forecasters are typically estimating that residential dwelling consents in New Zealand will continue in a range of 28,500 to 35,000 per annum in the next 2‐3 years'
I said they would fall to 28,500 and I think it was BP who mentioned 35,000 so they have listened to both of us.
Share price on a roll today ....feeling chuffed
I think the guidance should be pretty safe. They have surely learnt their lessons the hard way not to over promise and under deliver. Positively the Australian business appears to be sound