Half year EBIT down $10m on last year (which was $16m)
New computer system tells them they have heaps and heaps of useless stock. But that is only half the difference, rest being this stupidly difficult market.
No worries we’ll catch up in second half ....they said that last year but didn’t deliver.
No no percy ......not again surely ....but this sounds a bit ominious -
The halt is to allow for STU’s board to complete a review of the company's financial performance year to date and consider certain other factors that are likely to impact on earnings guidance previously provided to the market.
Wonder what’s happened to the rumours about corporate activity
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
And found that the value is a lot less than they have in the books?
Yep– that’s plausible. They seemed to be pretty upbeat about its value though - “Steel& Tube believes the Blenheim Rd property will be very attractive to potential landlords. The property is expected to be one of the leading industrial investment opportunities in the South Island market for 2018.”
Was it is 2016 that the divi was increased because of property sales? i.e. by selling and & leasing back their site at Seaview? Who knows – might be a positive update coming (…..now wouldn’t that be a surprise!)
Yep– that’s plausible. They seemed to be pretty upbeat about its value though - “Steel& Tube believes the Blenheim Rd property will be very attractive to potential landlords. The property is expected to be one of the leading industrial investment opportunities in the South Island market for 2018.”
Was it is 2016 that the divi was increased because of property sales? i.e. by selling and & leasing back their site at Seaview? Who knows – might be a positive update coming (…..now wouldn’t that be a surprise!)
Certainly a shortage of good quality industrial properties out there for investors and the syndicated managers (fees! Fees! FEES!) but my understanding is that single purpose properties leased by one tenant is not as attractive and sought after as multi-purpose and multi-tenant properties.
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