Originally Posted by
Beagle
LOL BP - Told you SUM people would try and put their own creative spin on the numbers. These same people probably have very little understanding of the company or how it operates and its probably never occurred to them that property developers can do very well even in a flat market as they can procure land, building supplies and manpower at cheaper prices.
People will see what they want to see. For example - disaffected renters will probably always be hoping for and seeing a pending property crash in the hope they may one day be able to afford a house of their own.
Julian told me after the meeting he is confident of earnings growth this year and with the company track record and trading on a forward underlying PE of 11-12 that's plenty good enough for me.