NOW that IFT have done the bunk and there are unknowns hanging about someone
may pop out of the woodwork at any TIME..
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EPS 3.5
PE 55, says it all !!!
Well, not really.
AIA's profit last year was adversely affected by massive asset writedowns. But at least they made an NPAT so they can boast an historical P/E. Most major NZ property companies - and that's really what AIA is - were in the same boat or worse, with a loss after tax. So no P/E at all!
Stating the obvious but the market looks ahead in pricing AIA at 55 times historical earnings.
Disc: Holding AIA.
Can anyone name one other good investment IFT has made outside of POT and TPW?
IFT is now the sort of company that you buy from and sell to.
SP today is where it was in 2004. Precisely the point - living on past glories.
When they bought Stage Coach, the market went crazy and sent the sp to $3.00. Good talking.
And we have IFT's word that Wellington airport is a good investment. Is it? Same thing they were saying about the European airports they bought.
Why Do Shell & Mobil both want to get out of service stations. I would not like to buy IFT shares At the moment