sharetrader
Page 34 of 46 FirstFirst ... 2430313233343536373844 ... LastLast
Results 331 to 340 of 454
  1. #331
    Legend peat's Avatar
    Join Date
    Aug 2004
    Location
    Whanganui, New Zealand.
    Posts
    6,435

    Default

    there is no real choice
    For clarity, nothing I say is advice....

  2. #332
    Advanced Member
    Join Date
    Jun 2020
    Posts
    2,237

    Default

    CDL (Majority owned by MCK) sounding optimistic in its latest market update:

    https://www.nzx.com/announcements/384061

  3. #333
    Advanced Member
    Join Date
    Jun 2020
    Posts
    2,237

    Default

    MIQ is coming to an end with the announcement of a phase-out over next couple of months!

    Will be a little bit of a unknown environment for MCK, as when the current MIQ contract with government ends (not public knowledge as I understand it) there will possibly be a short period before tourists/international arrivals begin to arrive (Australians, our biggest source of visitors, are allowed in first by July at the latest). Or maybe its the opposite and tourists begin arriving before the MCK contract for MIQ hotels finishes meaning the switchover will be easy. There may also be some demand for hotel rooms as family members choose to isolate from their families, but having family members away form home in hotel rooms.
    Last edited by LaserEyeKiwi; 03-02-2022 at 10:33 AM.

  4. #334
    Member
    Join Date
    Dec 2020
    Location
    Zeelander
    Posts
    414

    Default

    MIQ WAs a lucky lifeline for them ,unless they get more government support it will be a long winter wait for mass tourism again, if ever.
    ,

  5. #335
    Advanced Member
    Join Date
    Jun 2020
    Posts
    2,237

    Default

    Quote Originally Posted by ralph View Post
    MIQ WAs a lucky lifeline for them ,unless they get more government support it will be a long winter wait for mass tourism again, if ever.
    ,
    indeed - luckily their profits from property development still keeping them well in the green.

  6. #336
    Advanced Member
    Join Date
    Jun 2020
    Posts
    2,237

    Default

    CDL & MCK have announced results between Feb 8th - 17th over the last 5 years (17th, 8th, 13th, 10th, 17th for 2016-2021 results) so if that is a guide we might get them this week, and very likely by the end of next week.

  7. #337
    Advanced Member
    Join Date
    Jun 2020
    Posts
    2,237

    Default

    CDL results are out, so MCK shouldn’t be too far behind this afternoon.

    here are CDLs results (MCK owns 67% of CDL):

    Summary of results:
    -- Profit after tax $31.3 million (2020: $30.1 million)
    --Profit before tax $43.4 million (2020: $41.8 million)
    --Property sales & other income $92.1 million (2020: $88.8 million)
    --Shareholders’ funds $286.4 million (2020: $257.1 million)
    --Total assets $297.6 million (2020: $265.0 million)
    --Net tangible asset value (at book value) 99.6 cents per share (2020: 91.7cps)
    --Earnings per share 10.96 cents per share (2020: 10.75cps)

  8. #338
    Advanced Member
    Join Date
    Jun 2020
    Posts
    2,237

    Default

    MCK results are out:

    https://www.nzx.com/announcements/387508

    Summary of results:
    --Profit after tax and non-controlling interests $40.0 million
    (2020*: $48.5 million)
    --Profit before tax and non-controlling interests $64.6 million (2020*: $54.4 million)
    --Group revenue $164.8 million (2020: $172.0 million)
    --Shareholders’ funds excluding non-controlling interests $514.2 million (2020*: $474.7 million)
    --Total assets $680.8 million (2020*: $664.1 million)
    --Earnings per share (cents per share) 25.31 cents (2020*: 30.64 cents)

    [*note: The 2020 comparative figures are restated due to the fact that during 2021, MCK changed its accounting policy relating to the measurement of land and buildings. Land and buildings have now been restated at cost. Further information can be found in the Notes to the Financial Statements].
    Last edited by LaserEyeKiwi; 18-02-2022 at 11:01 AM.

  9. #339
    always learning ... BlackPeter's Avatar
    Join Date
    Aug 2007
    Posts
    9,497

    Default

    Quote Originally Posted by LaserEyeKiwi View Post
    MCK results are out:

    https://www.nzx.com/announcements/387508

    Summary of results:
    --Profit after tax and non-controlling interests $40.0 million
    (2020*: $48.5 million)
    --Profit before tax and non-controlling interests $64.6 million (2020*: $54.4 million)
    --Group revenue $164.8 million (2020: $172.0 million)
    --Shareholders’ funds excluding non-controlling interests $514.2 million (2020*: $474.7 million)
    --Total assets $680.8 million (2020*: $664.1 million)
    --Earnings per share (cents per share) 25.31 cents (2020*: 30.64 cents)

    [*note: The 2020 comparative figures are restated due to the fact that during 2021, MCK changed its accounting policy relating to the measurement of land and buildings. Land and buildings have now been restated at cost. Further information can be found in the Notes to the Financial Statements].
    Yes, quite shocking to see the NTA dropping down from nearly $5 per share (at fair value) to $3.25 per share (at cost) ... they clearly like to hide their wealth ... and all this beauty is available for $2.23 per share;

    Clearly a deep value game ... they can live nicely off their property development business (CDL) while tourism is in the doldrums ... and they will have a head start (currently renovating their hotels) when it comes back; Only some patience required :
    ----
    "Prediction is very difficult, especially about the future" (Niels Bohr)

  10. #340
    Advanced Member
    Join Date
    Jun 2020
    Posts
    2,237

    Default

    Quote Originally Posted by BlackPeter View Post
    Yes, quite shocking to see the NTA dropping down from nearly $5 per share (at fair value) to $3.25 per share (at cost) ... they clearly like to hide their wealth ... and all this beauty is available for $2.23 per share;

    Clearly a deep value game ... they can live nicely off their property development business (CDL) while tourism is in the doldrums ... and they will have a head start (currently renovating their hotels) when it comes back; Only some patience required :
    Yes they now have 3 other income streams to cover the approximately break-even hotel operations at present:
    - CDL land sales,
    - CDL’s new commercial investment property business (rental income from new commercial properties being built),
    - and the continued sell down of Residential sales (Zenith apartments in Sydney, still tens of millions dollars worth of apartments left to sell).

    The massive restatement of the hotel assets is fascinating, considering most were purchased decades ago and have also had depreciation charges applied to them. The new stated value of all hotels is likely less than the market value of just two or three of their more valuable ones (ie: The M Social on Auckland’s Waterfront & the Copthorne Oriental Bay in Wellington).

    the fact the company is still trading at a large discount to the already large discount to fair value that the company now states just amazes me.

    I do wonder if there is a possibility of some sort of corporate action, with a possible takeover offer from the UK parent company OR a sell off the hotel division to them and MCK / CDL get rolled up together as one listed entity.
    Last edited by LaserEyeKiwi; 18-02-2022 at 11:56 AM.

Tags for this Thread

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •