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Thread: Skyline

  1. #1
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    Default Skyline

    Anyone follow Skyline Enterprises?

    If you do what valuation would you give these shares?

    Since their lows in April 2009 SKYLINE has risen by circa 50%, plus paid dividends on top. Not a bad return.

    Have had a go on their Rotorua luge which was good fun.

  2. #2
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    Quote Originally Posted by D_Pick View Post
    Anyone follow Skyline Enterprises?

    If you do what valuation would you give these shares?

    Since their lows in April 2009 SKYLINE has risen by circa 50%, plus paid dividends on top. Not a bad return.

    Have had a go on their Rotorua luge which was good fun.
    I have never owned any Skyline shares as they have a minimum holding of 4,000 shares,and each time I have looked at they I have not been prepared to start off with that much money in them.The company is very well run and has allways positioned itself very well in Queenstown commercial property.The main driving force is Barry Thomas who is very astute.The market cap is $203mil,the PE ratio is 8.1 with div yield of 4.7%.They last traded at $6.02 with year low of $4.95 and year high of $6.11,so are trading at near the year high.

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    I've had some of these for 20+ years, they cost $1. You get free gondola use and discounted accomodation as well as the dividends. The tourism industry can be a bit fickle but the gondola and restaurant in Qn are good earners. Also owns about 40% of the Chch casino

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    Senior Member airedale's Avatar
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    I have heard that the shareholders function after the AGM at QN is a lavish spread at the Skyline restaurant.

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    Percy you make a good point about the minimum shareholding (4000 shares which is circa $24k at todays price). Wonder when this min holding size rule was initiated, assume it may have been back when Gonzo first purchased shares for $1. Skyline could probably increase their liquidity quite a bit if they reduced this down to around the 500-1000 holding size.

    They also have a couple of international luges in Singapore and Canada. Wonder how scalable the luge product is globally?

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    percy
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    Quote Originally Posted by D_Pick View Post
    Percy you make a good point about the minimum shareholding (4000 shares which is circa $24k at todays price). Wonder when this min holding size rule was initiated, assume it may have been back when Gonzo first purchased shares for $1. Skyline could probably increase their liquidity quite a bit if they reduced this down to around the 500-1000 holding size.

    They also have a couple of international luges in Singapore and Canada. Wonder how scalable the luge product is globally?
    I think they are always on the look out for other sites.D Pick may I susgest you write or email the company to see if you can get the history of the company.Like I posted I have followed it off and on for years.They once owed a milk bar/cafe in Dunedin.One of the original guys was a chap by the name {I think] Hilton Hessley {yes I got it wrong] who built a house out of bottles.Thomas is a character,was at war with other owners of ChCh casino,but he always held the aces.A lot of commercial property came up for sale in Queenstown a few years ago.Everyone thought Thomas would bid for a lot,so were surprised he was not at the auction.He had others bid for him as he knew if he showed and bidded that would put the price up.I hope Gonzo can tell us a bit more of the history.

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    One of the original directors was Cliff Broad an entrepreneurial Invercargill accountant and as you say Hilton Hensman built the bottlestore and bulldozed the access track up the hill to the top of the gondola. I think Barry Thomas was a younger accountant in Cliff's Invercargill firm when he got involved. If ever there was a 'moat' around a company skyline has it in the form of the view from the top of the gondola, a licence to print money. Just like the parthenon in Athens etc. The shares are tightly held!

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    Quote Originally Posted by airedale View Post
    I have heard that the shareholders function after the AGM at QN is a lavish spread at the Skyline restaurant.
    Always love a lavish spread. mmmmmm...Whats on offer?
    h2

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    Senior Member airedale's Avatar
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    Don't know, perhaps Gonzo will tell us.

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    Quote Originally Posted by airedale View Post
    I have heard that the shareholders function after the AGM at QN is a lavish spread at the Skyline restaurant.


    I think you just ramped up the share price........

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    Senior Member airedale's Avatar
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    Quote Originally Posted by Sideshow Bob View Post
    I think you just ramped up the share price........
    Yeah,you are right ,Bob, I have just pushed it further out of reach. The rumour is that they serve a lot more than NZOG style sausage rolls. All in front of a roaring log fire with copious quantities of refreshing beverages.
    Discl: not holding but wish that I was.

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    Talking of spreads, the current Skyline share price spread is around 12% (buy 5.81, sell 6.50) which appears lavish

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    percy
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    Quote Originally Posted by D_Pick View Post
    Talking of spreads, the current Skyline share price spread is around 12% (buy 5.81, sell 6.50) which appears lavish
    I would not read too much in the width of quotes.Most trades in the last month have gone through at $6.02 and $6.05.So if you really wanted to buy ,bid $6.05.
    I note there are 3157 shares on offer.With 4000 minimum what happens if you buy them.?

  14. #14
    Senior Member airedale's Avatar
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    That probably means that only existing holders can buy parcels of less than 4,000.

  15. #15
    percy
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    I note today there are 100,000 shares on offer at $6.02.

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