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Thread: Ift

  1. #21
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    Now lets hope IFT does what they should have done in the first place and invest in Hamilton airport. Make Hamilton is the centre of international air freight,the big future earner.
    digger

  2. #22
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    No curfew at AIA ... why won't it be used for freight , closer to customers than Hamilton.

    Disc: AIA holder
    nelehdine

  3. #23
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    What the Govt has actually said is that they do not need to make a 'sell' decision on the Whenuapai land just yet due to the Defence Force occupying the site for a number of years to come.
    They also said that there is no reason why a deal cannot be struck with the Defence Force to fly commercial planes in and out of Whenuapai.

    This 'no decision' was not what IFT wanted but they can work with the offer to enter into discussions with the Defence Force for use of the Airport.

    So, the Govt gets to keep its nose clean and IFT gets an opportuity to proceed with it's plans to commercialise Whenuapai.
    It will be interesting to read the press over the coming days to see what develops.

    Odds 40/60
    Toddy

  4. #24
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    This will please the locals - the land could be used for other uses like a 'prison'.
    Toddy

  5. #25
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    If the Govt/Air NZ stop this from proceeding in any shape, Infratil will simply move on into Eastern Europe and pick up another European airport on the cheap & set up shop, it's what they do best, give them another 12 months and Glasgow will be performing to budget at least.

    Infratil is likely to be a $3.75 share within 3 months & am thinking about converting my warrants.

    A popular pick in the NZX 2005 comp too!

  6. #26
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    Shasta

    Like your logic about IFT moving on and increasing value in other pars of the globe. That part i see reason ,but how do you get to converting the warrents. Surely you must mean sell the warrants and buy heads. Even then the directors are going in the direction of selling heads and buying warrants.
    Ift will continue to be a success story. In 3.5 years IFT has gone up 3.5 times. Can't complain about that.
    digger

  7. #27
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    quote:Originally posted by shasta



    Infratil is likely to be a $3.75 share within 3 months & am thinking about converting my warrants.

    What the ****, are you mad!!!!

    Rather than converting your warrants you can sell them on market now for 70 odd cents each. Then use this 70 cents to buy some shares at 3.35. Saves you 85 cents per share.

  8. #28
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    Decided that IFT was a good stock for 2005 with good prospects in the long term and less potential downside than some. So after having chosen it as one of my five picks for the competition I have also dipped my paw into the shareholder pool and bought an initial holding.

    Now, about that $3-75 within 3months... [^]
    om mani peme hum

  9. #29
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    PT

    Welcome aboard.
    The B warrants represent great value at 80 odd cents with a strike price of $3.50 in June 2009.

    Toddy

  10. #30
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    IFT is my best investment ever,GEN is my worst. Strange how suddenly in the last two months the warrants are now seen at 80 odd cents as great value. I bought 180000 at 54 cents shortly after listing and at the time we had top advise saying they should be only worth 35 cents.
    This co needlessly drifted back after the Whenuapai fiasco.Personally i think they would be better off putting their effort into existing airports rather than the 200 year permits needed to start up another. IFT has a lot without worring about Whenuapai.
    To conclude at the moment i think the warrants and the heads are about in fair comparative relative value.
    I hold this stock and it is also in my 5 picks for 2005.
    digger

  11. #31
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    Taking an average interest rate of 5% until July 2009 then I would value warrants at head price less $2.80 or $0.60 at the present time.
    That does not take into account lost dividends which requires a greater premium, but neither does it take into account the greater leverage on head price gains.
    I have bought IFT heads but I would not be adverse to a few warrants in the near future.
    om mani peme hum

  12. #32
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    Infratil keeps extraordinary record
    09 January 2005
    By GARRY SHEERAN

    Infratil the quiet achiever. Does the moniker really fit the sometimes outspoken listed infrastructure company?


    About achievement, there can be little doubt. The company has just celebrated a decade since listing, and the average compound return to shareholders in that time has remained above 20%, if all dividends and bonuses were reinvested.

    After another good year in calendar 2004, that record is likely to be maintained when Infratil reports its latest full March-year profit.

    Infratil's 2004 performance rises from 26.9% to 33.1%, if the value of free warrants issued in June last year is included.

    But quiet? Colourful chief executive Lloyd Morrison is quick on the front foot when it comes to battling for causes dear to the interests of Infratil.

    He fought publicly and successfully against the proposed merger between Air New Zealand and Qantas, which would do no favours for Wellington Airport, two-thirds owned by Infratil.

    Equally publicly, but less successfully, Infratil threw its weight behind proposals to convert Auckland's Whenuapai air base into a commercial operation, with Infratil leasing the airfield from the Crown.

    Infratil rated barely a mention when brokers listed their top sharemarket picks for 2005. Multiple accolades went to names such as Telecom, Contact Energy and Guinness Peat Group (GPG).

    Also given a chance of flying in 2005 were small cap stocks NZ Oil & Gas and Cadmus Technology, big performers last year. But the question remains: can they repeat the performance?

    The companies investors really want to deal with are not last year's winners, nor those of the year before, nor the latest hot thing. What they really want are companies, and stocks, that perform creditably year in, year out.

    If not quietly at times, then certainly with almost unparalleled consistency, that is what Infratil has done.

    According to research by ABN Amro Craigs, Infratil is one of only five NZSX50 companies to have delivered annualised returns of 20% or more over the past decade. The broker puts that figure at 24.6%.

    In part, this is a reflection of the fact that another two of the five companies are those in which Infratil has significant investments.

    Trustpower, 35% owned by Infratil and comprising more than half of Infratil's investment portfolio, has average annualised decade-long returns of 34.2%.

    Port of Tauranga, the other significant local-listed Infratil investment, has annualised returns of 31.2%.

    Another company with strong 10-year annualised returns is Hellaby Holdings (25%), a company, like Infratil, in the business of investing in other companies.

    The fifth company was retailer Michael Hill International, with an annualised return of 21.1%.

    With the departure of Brierley Investments a decade ago, and a period in the late '90s when the GPG share price went nowhere, there was a perception that the day of the old-style investment company was at an end.

    That view has changed, and GPG's resurgence in the public mind is only part of the reason.

    However, analysts draw a distinction between the old players, such as the former Brierley Investments, and the likes of Infratil.

    Macquarie Equities investment director Arthur Lim said old-style investment company shares suffered because they were always trading at a discount to the perceived combined net asset backing of the businesses the companies invested in.

    "But with a company like Infratil, the market can see the operating earnings of companies in which Infratil invests," Lim said.

    Forsyth Barr research manager Rob Mercer said Infratil had done well because early on, it saw the potential of investing in infrastructure.

    "They were investing in ports and electricity companies ahead of much of the rest of the market, and were early players in airports," he said.

    ABN Amro analyst Matt Henry said Infratil had benefited from being a long-term holder of assets.

    Although categorised as an investment compan
    Toddy

  13. #33
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    quote:
    IFT
    01/02/2005
    QUARTER

    REL: 1311 HRS Infratil Limited

    QUARTER: IFT: Infratil Results for the Nine Months to 31 December 2004

    INFRATIL LIMITED
    RESULTS FOR THE NINE MONTHS TO 31 DECEMBER 2004

    1 February 2005

    Infratil's results in the last quarter of 2004 reflect continued strong
    returns from TrustPower and Wellington Airport.
    Infratil's investment portfolio generally performed well. New investments
    continue to be sought whilst maintaining a focus on current businesses.

    Infratil's net surplus for the nine months was $42.94 million - an increase
    from $20.73 million achieved in the same period in 2003. For the quarter the
    respective figures were $13.31 million and $8.20 million. For the nine months
    earnings before interest, tax, depreciation and investment realisations were
    $46.89 million from $48.61 million in 2003.

    Notable events and developments during the period were:
    - TrustPower's contribution to Infratil for the last quarter was $7.5
    million, a 34% increase over the same period in 2003. TrustPower's growing
    list of investment projects and plans augers well for future income growth,
    and the ability of New Zealand's electricity system to meet demand in an
    environmentally sustainable manner.

    - Wellington Airport's contribution to Infratil continues to grow at
    approximately 20% as passenger throughput rises. The Airport has announced
    that stage one of its Lyall Bay retail development will be completed in 2005.
    This will initially increase earnings by approximately $3 million per annum.

    - Glasgow Prestwick International Airport's freight volumes appear to
    have stabilised and a number of new scheduled airline routes have been
    announced from March 2005. The challenge of increasing passenger services
    income, via better terminal facilities, and a resumption of freight growth,
    via more active management, are being addressed and the new CEO is to take up
    his role in February 2005.

    - Other investments; Energy Developments, Port of Tauranga and Victoria
    Electricity are performing encouragingly.

    - Management continue to review and develop opportunities in the areas
    of waste to energy, renewable energy and airports, without instigating any
    material investment.

    - In December 2004, Infratil initiated a further issuance of
    Infrastructure Bonds. The bonds have been well received and issuance of this
    maturity will cease on 4th February. In the short term, proceeds of this
    issue are being used to retire bank debt.
    End CA:00110926 For:IFT Type:QUARTER Time:2005-02-01:13:11:30
    om mani peme hum

  14. #34
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    Paper Tiger's new share trading company made it's first purchase today and acquired some IFTWB at 86c.
    I expect these to be a nice little earner and put the company into profit in the near term.
    om mani peme hum

  15. #35
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    quote:Originally posted by Paper Tiger

    Paper Tiger's new share trading company made it's first purchase today and acquired some IFTWB at 86c.
    I expect these to be a nice little earner and put the company into profit in the near term.
    PT, good on you for your new structure. Why not start a new thread updating PTs share trading company?
    Death will be reality, Life is just an illusion.

  16. #36
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    I presume the heads and warrants are lost in the Wellington fog?
    om mani peme hum

  17. #37
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    quote:Originally posted by Paper Tiger

    I presume the heads and warrants are lost in the Wellington fog?

    Don't worry 86c sounds OK I paid 89c

  18. #38
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    quote:Originally posted by port hills

    quote:Originally posted by Paper Tiger

    I presume the heads and warrants are lost in the Wellington fog?

    Don't worry 86c sounds OK I paid 89c
    So if you bought using the bigger fool theory he was me, I'm still waiting for a bigger one yet, however I'm still very confident of finding one before 10 july 2009.

  19. #39
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    Paper Tiger

    You can't beat Wellington on a good day!

    The sun will shine again and IFT will have it's day in the sun.

    (positives - the NZ cricket team didn't have to look like chumps again.... so I didn't get an ear full from the Aussies at work this morning)
    Toddy

  20. #40
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    I have sold the warrants. I bought them as the first purchase for my trading company to get the CSN & FIN, all sorted. When the market started to decline I sold them. You can make money, even if in this case I did not, trading the warrants:
    However I (not the company) still have the heads and long will I keep them.
    om mani peme hum

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