Good post Beagle that I agree with. Yes the sales growth is slowing somewhat which has been well signaled on here but the obvious increase in development margin is starting to really make a difference to the underlying profit.
But as winner and couta point out and Julian hints at in his comments, the property market may be slowing which may well affect us in the near future. But a company growing at 20-25% per annum is not to be sneezed at.
A happy holder.
Hi mate. In John Ryder's recent newsletter he noted that real estate is slowing more quickly in Australian eastern cities with notable weakness in Melbourne down 5% year or year. He's a very smart guy, far smarter that this old dog. He's neutral on real estate in N.Z. and negative on Australia. Implications for RYM expanding rapidly over there ?
Disc : Also own RYM and OCA as I believe that the demographic tailwinds in this sector are truly compelling. For what its worth I think on balance provincial N.Z. will do really well in the years ahead, Auckland possibly already at max affordability level although I did see a modest do-up 3 bedroom townhouse in Avondale the other day for just $599K...the issue is a lot of people don't want to roll their sleeves up and get stuck in with renovating and refurbishing and or don't have the time with both parents working long days to make ends meet.
Last edited by Beagle; 10-07-2018 at 10:28 AM.
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
Alot of the first crop of residents in the rymans and summersets etc will be dying now as evidenced by the trend up in resales so to maintain the slope of the bell curve we need more units built in the model and staggered over time so as the slope is always rising. a model which works until saturation , luckily thats many years away unless theres a war or illness and it strikes everyone down. after saturation the model will need to change.
make hay while the model works.
Shoot up, not quite but green always good to see.More the DOW being up 320 points and NZX first mkt to open today, 16 out of 20 indices up today .SUM up half a percent and well off highs in june . Less then 20,000 shares through so far.Steady as she goes.
Even though its a pretty sad chart I'll still post the updated one
New sales have not grown for 5 consecutuve quarters now ..... hopefully Julian raving on every announcement that the 'high levels of sales contracts and presales on homes which will be completed and delivered over the remainder of the year' will actually comne true one day
When the line goes up we all can start rejoicing again
Definitely new sales trending down ...BP it is an annual moving total ...rather like a MA365 line
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
Have a Kiwi fruit first thing in the morning and it should stop you catching colds.
When you have a cold, try a mixture of Drambuie and whiskey.Repeat until such time you either stop caring or you have past out.It really works.
ps.25% figure is worth a thousand words.!
Have a Kiwi fruit first thing in the morning and it should stop you catching colds.
When you have a cold, try a mixture of Drambuie and whiskey.Repeat until such time you either stop caring or you have past out.It really works.
ps.25% figure is worth a thousand words.!
LOL, I'm trying to turn over a new leaf and be less dogmatic these days but you obviously saw the post I deleted and I really appreciate your response which hits the nail directly on the head Mrs Beagle gone away for a few days with our granddaughter for the school holidays so I can get the appropriate cold and flu medications out now in plenty of volume LOL. I apologize in advance for any future incoherent posts this week
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
I do feel the share price has held up well for the day. I did expect it to drop a little, from what some posters were saying. Maybe they might drop a little later this week/month. Either way I am happy to sit and wait.
Its an average announcement given the share price has really rallied from undervalued to fair value verging on overvalued.
Its at a forward PE of 16.9 which has this FY result already priced in (which doesn't come out until Feb 2019) unless investors buy in that the growth will keep going at a higher price. Either that or the new/resales that were supposed to pick up in 2H come to fruition and the share price keeps growing causing an updated guidance.
These places are are claimed to be caring environments. An old lady hurts her leg and it is dressed. No body is interested enough or caring enough to follow it up. You shouldn’t need systems in place to make sure that this lady is cared for properly. It should happen naturally.
G on I would appreciate it if you could let me know how I can access the above report you mention. Thanks in advance.
https://www.health.govt.nz/your-heal...ion-and-audits “Rest home certification and audits If you or a family member is planning to move to a rest home – or is currently living in one – you’ll want to be sure it provides the best quality care possible. All rest homes and aged residential care facilities are certified and audited to ensure they:
provide safe, appropriate care for their residents
meet the standards set out in the Health and Disability Services (Safety) Act 2001.
Originally Posted by iceman
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Mrs Beagle gone away for a few days with our granddaughter for the school holidays so I can get the appropriate cold and flu medications out now in plenty of volume LOL. I apologize in advance for any future incoherent posts this week 
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