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  1. #1
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    Default TRA - Turners Automotive Group [previously TNR - Turners Limited]

    One of the nastiest shocks of the week was the arrival in the post of Dorchester's printed half-year report.
    This revealed,for the first time if I remember correctly, a shocking drop in the important EPS figures - down an unexpected 33.8%.
    Neither the chairman or the ceo made any reference to this....they couldn't have imagined that if they didn't mention it then shareholder would't notice, could they?
    Shareholders are now left with the serious question of whether to hold onto the shares or whether the new regime may now carry on as they have started?
    Comments please.

  2. #2
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    Suggest that you read the other DPC thread-this is old news which was out about 6 weeks ago.I would keep well away from this stock until things change.It has been in a downtrend for a long time.

  3. #3
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    KJ, I did what you suggested but couldn't find any reference to big drop in EPS. Don't want to be a nuisance, but where exactly was it mentioned.

  4. #4
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    Goodguy-If you knew their NPAT (came out early Nov)then you can obviously work it out.
    I use Direct Broking-all the info is there-let me know if you do not follow.

  5. #5
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    The only other threads I can find on DPC are 12 months old.

  6. #6
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    Tapman-go to page 2-last post 10days ago.

  7. #7
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    Default

    Found it. Thanks

  8. #8
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    Default

    KJ, To be able to work out the EPS you need to know the number of shares on issue and this wasn't given in the Nov announcement....hence the shock of some of us when the printed report arrived last week, and no comment about the big fall.
    I definitely share your opinion on the company: what should we do for the best now?

  9. #9
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    Can't you find the number of shares on issue at NZX.com?

  10. #10
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    Not sure what the fuss is about. Whilst the change in earnings per share is - 33.9% it is quite easy to see why from the short report.
    If the abnormal and one offs are indeed abnormals and one offs then they won't recurr. Also the equity increased by approx 20% in August 2006 so it was up on the previous comparable period but had little time to generate earnings.

    Quoting the chairman's report, "excluding abnormal and one-off costs,
    Operating Profit for the six months is ahead of the same period last year"

    I've got three small parcels of DPC and put the company in the category of should have done better.
    The IRR's are ok at 8, 17 & 30% for the respective parcels. IMHO if they can sort a few things out DPC will be rerated upward.

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