Disc: No need for further testing, the hound has thoroughly audited this flavour and hereby certifies it is truly delicious !
Last edited by Beagle; 18-11-2016 at 05:47 PM.
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
Thanks for sharing your perspective. Is Brandon park problematic in much the same way as the Boulcott site is for SUM ? Could it be years before they get the required consents ?
No mate, Ryman are not in the habit of poking sleeping Tigers with sticks like Sum were and are with the Boulcott site.
Slowing reverting to a more reasonable valuation (from it's lofty highs a few years ago)
This rerating why RYM share price hasn't really gone anywhere in that period - earnings increasing driving increased book value (Book Value up 58% since March 14) but the P/B Multiple down 40% in same period
Todays share price is slightly lower than it was in March 2014 - gone nowhere for 2 1/2 years
Last edited by winner69; 18-11-2016 at 08:27 PM.
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
Ryman Book Value - ie Shareholders Funds - over the years
The REAL measure of what Ryman is worth
Yes, Asset value on the top-line looks great riding a sustained property price boom. Even Ryman are saying that won't continue. My graph just plotted the declining underlying PROFIT, that's the REAL measure of the company, I didn't make it up, just plotted the figures from their annual reports after Roger pointed out the elephant in the room. Don't shoot the messenger.
Yes, Asset value on the top-line looks great riding a sustained property price boom. Even Ryman are saying that won't continue. My graph just plotted the declining underlying PROFIT, that's the REAL measure of the company, I didn't make it up, just plotted the figures from their annual reports after Roger pointed out the elephant in the room. Don't shoot the messenger.
Sorry Baabaa - I now realise you were only the messenger
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
No definitive trend there yet... maybe just a extra good year in 2013.
Btw forecast increase in Underlying Profit of 15.83% for Year End 31-Mar-2017 equates to an announced (in May 2017) Underlying Profit of $183 million.
Roger and Winner are correct (as can be seen) re the stagnating share price from 2013 to now, and the SP could still do what it did in 2009... or maybe it could do what it did in 2013.
Again, the forecast is based on an announced (in May 2017) Underlying Profit of $183 million for the Year End 31-Mar-2017, and assumes a non-bull non-bear market.
Willing to consult for free on food tasting matters
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Originally Posted by Roger
Don't shoot the Elephant either
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