Opus

[Crisis]

Interesting strategic expansion worldwide, well done Opus.

[Mista_Trix]

Hmmm I wonder how much positive movement we'll see with this, could it be a turnaround point.

[benjitara]

Well it's good news. Quite a large acquisition when you consider their current levels of participation in the Canadian market. If they maintain the Canadian margins it'll certainly make the bottom line a little better and the SP could start looking a little cheap at current levels. With this and the increased activity in NZ hopefully really kicking in over the next two or three years we could see reason to be a little more positive about the company. I see Stewart Wier went into aussie but shut operations down a couple of years ago. I like the move anyway, good news and big enough to see good gains if managed properly.

[benjitara]

Certinaly a welcome relief to shareholders who have been holding patietntly without much reward. Glad I'm still holding, and as you say benjitara, hopefuly this is a sign of things to come.

Yes. I was seriously contemplating selling out a few weeks back but held on due to the long-term outlook close to home and the fact that the mid-year report showed some positive signs for their overseas businesses (even though their main revenue lies in New Zealand) As I said this isn't a flash in the pan move. A considerable move to expand in a market they obviously think has potential. I still think the SP is undervalued by around 5%, decent yield too.

[benjitara]

Good to see in the press this morning that Opus research has been carrying out studies in partnership with the Christchurch city council about inner city living. I see the anchor projects in chch rebuild as very important for opus in the next 18 months so any relationship can only be positive.

[BlackPeter]

preliminary results are out:

https://www.nzx.com/files/attachments/188977.pdf

more revenue, less profit ... and all of this based on a much higher leverage than last year - not really exciting, thought they might do better ...

[winner69]

preliminary results are out:

https://www.nzx.com/files/attachments/188977.pdf

more revenue, less profit ... and all of this based on a much higher leverage than last year - not really exciting, thought they might do better ...

Something I get interested in from time to time but the numbers never look that exciting enough

All the ebit made in nz .....maybe f the rest if world started generating profits this would make them more attractive (to me)

Pete - you said leverage had an impact. Sure did

[BlackPeter]

and this is the directors spin on the result:

https://www.nzx.com/companies/OIC/announcements/246799

... for beginners: "delivering strong performance" means apparently "profits are falling"!

[Under Surveillance]

and this is the directors spin on the result:

https://www.nzx.com/companies/OIC/announcements/246799

... for beginners: "delivering strong performance" means apparently "profits are falling"!

..... and also means "dividends are falling":

Final dividend H2 2013 3.9 cents; 2012 4.9 cents; 2011 4.7 cents
Total dividend for FY 2013 7.9 cents; 2012 8.9 cents; 2011 8.5 cents

[macduffy]

Yes, I've become rather disillusioned with Opus over recent years as performance continues to lag potential. I can't help harbouring a suspicion that this company's main purpose is to serve as the "parent" company's arm in those far-flung outposts of NZ, Australia, Canada and Britain. Asia? - off limits!