Indeed - some implied guidance there as well:
as a reminder, 2020 result was a $30 million net profit.Quote:
we remain positive and expect to be able to report results for this year comparable to 2020
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Indeed - some implied guidance there as well:
as a reminder, 2020 result was a $30 million net profit.Quote:
we remain positive and expect to be able to report results for this year comparable to 2020
Thanks Percy. Certainly sounding good. I've been watching the share price track down as I'm quite keen to top up my (small) holding.
A good, timely update. I was beginning to think the demand for residential sections would suffer under the "three houses per section" policy that seems to be the vogue at present.
Hard to say ... the section might be more valuable if you can build three houses instead of one, but it might be less valuable if your neighbor can build three houses instead of one.
Unfortunately - most sections have more than one neighbor section, so the total change well might be negative.
However - should not really matter for CDI given that they can (in a new subdivision) control what people are building ... they can pick the best out of both worlds.
The FY21 half year profit result was up 51% on the FY20 first half, so if directors are only now expecting a full year FY21 result that is comparable with FY20 then the second half of FY21 isn’t that flash. I assume comparable means at the same level, however the word is a little ambiguous. CDI is talking up FY22 however.
With land sales, the result in any half year will always be a bit variable due to the timing of the issue of titles and therefore settlement dates.
Given the continuing firming of industrial property yields (as evidenced in this mornings PFI announcement), I’m expecting a substantial development profit on the two Wiri warehouses. CDI don’t generally book investment property revaluations rather just disclose the difference between market and cost in the notes.
With the IPO of Winton imminent, CDI may come under greater focus. Will be interesting to compare the fundamentals of both. CDI historically haven’t been a big blower of their own trumpet.
Anyone have any idea how long this High Court challenge re Havelock North purchase by Winton sore losers will take- months or years? I can tell you now that that particular area of land will be very desirable to prospective home owners.
The chances Winton succeeds are very small (the court reversing an approved Ministerial OIO review without any apparent obvious error seems very low).
The whole think in retrospect was just PR theatre by Winton as they prepared their IPO (its the same reason they flooded TV with advertising this year - its not to sell houses, but to sell their shares in the IPO)
It's that time of year again .... Where will the CDL numbers fall? The market can't seem to decided where the share price should sit ... $1.08 or $1.15 ... but volumes on the sell side are almost non-existent. i'll be satisfied if the dividend holds steady (3.5c) and there's some revenue growth from the commercial ventures. Would also be helpful to hear that builders/developers can get the supplies to keep up with completion deadlines.