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Thread: IFT - Infratil

  1. #181
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    CJ.
    Sorry but I have only just noticed your question from the 8th.

    My objection to the Stagecoach Acquisition is two-fold.
    Firstly and leastly, I think they paid a few dollars too much given the current earnings.
    Secondly, the area of public transport in Auckland and to a lesser degree Wellington is a political minefield. The risks of detrimental, to Stagecoach, interference by one or more of the innumerable bits of local and national government is too great in my opinion.
    om mani peme hum

  2. #182
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    IFT need something to move the SP along again. Drip feeding airport statistics on a monthly basis about the Wellington domestic passenger numbers is turning out to be a negative exercise.
    A good testing result from Austral on Cardiff or the likes should spark the SP back into action.

    Share buy back. There has not been any action from IFT on that front for some time and we are 9 months through the financial year.

    Stagecoach. PT, IFT love the political game and have a proven track record of being able to talk with Regional and Central Governments with some success.
    Toddy

  3. #183
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    AA, not sure where you got the PE from, but this is from the NZX website:

    Analytics: 21 Feb, 2006
    52-week high/low 4.15 / 3.23
    Price/Earnings (P/E) 26.8058
    Times cover (TC) 1.3140
    Earnings per Share (EPS) 0.1380
    Dividend yield 4.2356
    Net tangible assets (NTA) 2.410

  4. #184
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    AA

    IFT is an Investment Company. Cashing up some POT shares realising p&l under NZ Accounting Standards would render your PE ratio anaylsis redundant.

    Toddy

  5. #185
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    quote:Originally posted by Toddy

    IFT need something to move the SP along again. Drip feeding airport statistics on a monthly basis about the Wellington domestic passenger numbers is turning out to be a negative exercise.
    A good testing result from Austral on Cardiff or the likes should spark the SP back into action.

    Share buy back. There has not been any action from IFT on that front for some time and we are 9 months through the financial year.

    Stagecoach. PT, IFT love the political game and have a proven track record of being able to talk with Regional and Central Governments with some success.
    Agree that monthly figures present a consistent drip, drip, drip of mildly negative news and this could well be affecting the share price in the short term.

    IFT bought back 61,500 shares at average $3.65 on 9th December 2005, the SP has not traded that low since, until yesterday. So I am interested to see.

    I remain sceptical with regard to the politics of urban public transport.
    om mani peme hum

  6. #186
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    Want positive news on IFT look at the chart for it's biggest asset TPW

    Closing SP today of $6.34

    AA - IFT is mainly an assets play, buying loss making airports at firesale prices and taking 3+ years to turn them around will not result in attractive PE's but the wealth creation potential is huge.





  7. #187
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    This is why I think that Stagecoach will be a winner for IFT. Its not a case of 'if' but 'when' tolls are going to be introduced on the Auckland roading network. Catching a bus to work will then become a more viable option for many people and expect the funding allocation to be increased for Public Transport accordingly.

    Tolls needed to unclog Auckland roads
    22 February 2006

    Tolls will be needed if Auckland's traffic jams are to be cleared in the next 10 years, highway building agency Transit New Zealand said today.
    Transit said without any funding from tolls, completion would be significantly delayed.
    Toddy

  8. #188
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    Also Toddy, the dollar is finally coming down. As petrol goes up, then will start pushing people Stagecoach's way.

    At the moment, about $1.46/litre for unleaded, but will be under pressure as/when the dollar continues it's downward slide.

  9. #189
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    Stagecoach and growth.

    'As part of the plan, Auckland's bus fleet will double from 900 to 1800 and the number of trains will increase from 34 to 50.'

    Rugby World Cup ignites plans to relieve city's gridlock worries

    26.02.06
    By Teresa O'Connor


    A $600 million plan to double Auckland's public transport capacity has been fast-tracked in a bid to relieve gridlock woes in time for the start of the Rugby World Cup.

    As the eyes of the world will be on Auckland in 2011, transport chiefs have decided to accelerate plans originally scheduled for completion in 2016 with projects around rail, buses and park-and-ride facilities.

    Funding will come from central government, regional rates and cash reserves. Rates are not planned to increase by more than 5 per cent.

    The figures do not include electrification of the rail network, part of a wider 25-year upgrade plan.

    The only fresh project is the creation of a shuttle service from Britomart to Kingsland and building a transport hub around Eden Park.

    Auckland Regional Holdings - which manages assets of $1.17 billion from the former Infrastructure Auckland - will provide more than $100 million toward the $600 million bill. The Government, meanwhile, has agreed to provide 100 per cent funding to expand the rail network, including double-tracking many lines in time for the tournament.

    Essentially the plans revolve around more trains and tracks, improved rail facilities, twice the number of buses, shuttle services and more park-and-ride options.

    The ultimate aim is to increase patronage from 52 million passengers a year to 100 million.

    As part of the plan, Auckland's bus fleet will double from 900 to 1800 and the number of trains will increase from 34 to 50.

    Although Albany has not been confirmed as a Cup venue, more park-and-ride facilities are planned.

    The key projects in the $600 million transport plan are completing the North Shore busway by 2009, double-tracking the western railway line by September 2008 and improving capacity at Newmarket station.

    Much of the focus will be around Auckland's Eden Park where some of the key matches of the 2011 World Cup will be played. Plans are to increase the frequency of train services into nearby Kingsland station as well as more regular bus services into Mt Eden.

    The plans are unlikely to cause any major traffic disruption over the next five years as most will not affect existing public transport services.

    Auckland Regional Land Transport Committee chairman Joel Cayford predicted little difficulty in meeting the 2011 deadline.

    "Our new goal is to boost those public transport levels in time for the Rugby World Cup to help make it a world-class event.

    "Bad traffic congestion would be a poor image for Auckland and New Zealand and leave a lot of overseas visitors very grumpy," he said.

    Auckland mayor Dick Hubbard welcomed the moves, saying it was imperative the city had a world-class public transport system by 2011.

    "One quarter of the world will be focusing on Auckland during that period. We need to showcase this city and public transport will be part of that. It will also be a fantastic asset for the city afterwards."

    Eden Park Trust Board chief executive John Alexander said he was encouraged about what was planned for the event and the area.


    Toddy

  10. #190
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    376,194 shares bought back by IFT at $3.70 yesterday
    om mani peme hum

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