I am not sure what is going on with the MET price. Its 5.50pm yet on the DB site it seems as though MET is still in pre-close price matching phase. Last trade $4.10 at 16.19...price match 4.21 ??
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I am not sure what is going on with the MET price. Its 5.50pm yet on the DB site it seems as though MET is still in pre-close price matching phase. Last trade $4.10 at 16.19...price match 4.21 ??
Rechecked things
Lower end guidance of 34m is 6% up on FY 13 - but H2 14 will be down 20% on last year
Top end numbers are 19% for FY and minus 3% for HY
Hard to read what al this means, esp when underlying profit is meant to be the one to use and excludes all the funny stuff.
Maybe H2 13 of 23.4m wasn't a real number (underlying that is) and contained some stuff that is not going to happen again. It was a lot higher than H114 and is not being repeated again this year.
All up and down and the announcement was all shot and sweet and late in the day - obviously didn't want to explain things too much.
That'll just make people speculate. Like me who will always take the lower end of guidance and st means second half profits are down 20% which is shocking
Hope not a new trend in the sector
I obviously just don't get it - it's all good news ....whoopee ......bugger I don't hold but good news should in the sector is good an it will help SUM and RYM
Metlifecare sees annual earnings growth of up to 18 percent
http://www.sharechat.co.nz/article/5...18-percenthtml
Article originates with businessdesk.co.nz and just goes to show that some journalism is unadulterated rubbish.
I would also take issue with MET and their use of selective numbers from the accounts to make up the prior 'underlying profit'. Go read the actual accounts and make your own decisions.
But it all boils down to this: MET currently do not have many new units to sell and that really does limit their profit.
Hopefully this year is the bottom and it is up from there.
Best Wishes
Paper Tiger
Earning growth slows for Metlifecare but new villages will underpin future strong growth
Metlifecare reported yesterday an "underlying profit guidance of between $34 million and $38 million for the year to 30 June 2014." This is an 18% increase on the previous year.
Half year to December 2013 underlying profit increased was significantly up from $8.6m the prior year to $15.3m. The latest guidance signals lower growth in the second half of the year.
Market analyst P Tiger attributes this to Metlifecare currently not having many new units to sell.
Respected market commentator and renowned expert on the retirement sector Harvey Spectre says this is only a temporary lull expects "their build rate to significantly increase from here." Spectre reports that the "new Glenfield development is one of the biggest recent developments in the sector and work has already started and sales pitches are underway."
Metlifecare share price closed unchanged at $4.10 yesterday. Consensus market opinion is that the retirement sector will continue to deliver strong gains fo share holders with the Metlifecare shareprice targeted to be over $6.00 next year
Is it a modest PE given their patchy track record and more limited growth profile than SUM ?