SKC - Sky City

[Waltzing]

over priced at the moment but long term a return to steady increasing profits in 2022-2023.

[Norwest]

EPS: 10.4cps: down from 49.3cps - Ouch!
https://www.nzx.com/announcements/367765

You really need to read into financial report more in depth and compare like for like on PCP.

If you do this, you'll see a $193million differential in there regarding the NZICC fire which skews the figures quite a lot. It's still not a great result but once you take into account the above, plus the closures of our international borders and the continued lock downs, the EPS drop isn't as bad as the headline.

[Waltzing]

the share is still surely a head of its self by about 12 months?

DISC: We Hold .

[Entrep]

Vaccines much more effective than previously thought. Time to start accumulating this one?

[Waltzing]

accum ? we did at 2.96 the other day.

[sb9]

Closed bit strong on ASX at NZ $3.31 equivalent, obviously demand coming from Aus Instos, same deal as in case of FBU too.

[stoploss]

accum ? we did at 2.96 the other day.

Why did you say the share was 12 months ahead of itself then ? Trying to talk it down while you were buying ?

[ratkin]

over priced at the moment but long term a return to steady increasing profits in 2022-2023.

When you said this (Three weeks ago) the price was in the 2.80s yet you now say you have since bought some at 2.96.
Where is the logic for this?

[Waltzing]

Logic? none ! We have missed out on making a lot of money this winter by trying to apply FA to the market. Logic said all high dividend stocks would increase in value. The market did in fact follow this logic much to our surprise. We should have held on to some wonderful NZ stocks but felt the market would roll over again, IT DID NOT.

But other stocks that we thought would be under performers for at least 2 year caught a bid and we have made money of these late reflation trades.

We held sky city in several portfolios all the way through which are under water positions.

As banks have outperformed taking out our loss positions years ahead of our worst case, much to our surprise, we also thought Sky City would attract a bid at under 2.90.

We only bought a small allocation at 2,96 after trading it up from 2,40.

It was a bet that the market MIGHT bet on the stock here.

Sky city is always a trade for us as its a casino stock and we treat it that way until its others business start to perform. NZ will be THE place for people to travel to in the future as it reputation for control virus's will place it at the forefront of safe places to hold a conference and travel the gulf , fly to the south island.

Global pandemic the best advertising the country could ever get.

We also wished we had added to overseas travel last week.

[Entrep]

Bought in this week. Bottom draw along with CEN