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  1. #201
    always learning ... BlackPeter's Avatar
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    Aberdeen Standard Investments topped up another 2.5 million (roughly) shares and now holding 8.37%. They say that Scotsmen are cunning with money ;

    http://nzx-prod-s7fsd7f98s.s3-websit...437/286229.pdf
    ----
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  2. #202
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    Quote Originally Posted by BlackPeter View Post
    Aberdeen Standard Investments topped up another 2.5 million (roughly) shares and now holding 8.37%. They say that Scotsmen are cunning with money ;

    http://nzx-prod-s7fsd7f98s.s3-websit...437/286229.pdf
    They also spent just over a mil on MCK shares taking them over 13%. I wonder if it's just investing spare cash or part of a wider plan.

  3. #203
    always learning ... BlackPeter's Avatar
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    Another week or so and we will see the annual results.

    Not sure I understand the recent SP development, though - 2018 should deliver another great result (as they forecasted) and given that Labour is not able to deliver on its housing promises - any developer of reasonably priced real estate should continue to do well.

    OK - leaning myself out of the window - based on the HY results and still solid house sales I reccon they might report revenue around $93 m and EPS between 14 and 15 cents, which would be another nice increase compared to last year.

    Good time to accumulate? What do others hope for / expect?
    Last edited by BlackPeter; 01-02-2019 at 09:49 AM. Reason: added guestimate ...
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  4. #204
    always learning ... BlackPeter's Avatar
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    Quote Originally Posted by greater fool View Post
    Thought your post might be this;
    https://www.linz.govt.nz/overseas-in...8-12/201810078

    Too late to accumulate, I expect "gone by 1 June"
    Cheers for the link. Good to see that they keep increasing their stock - and not surprised that they got OIO approval (though not sure,why they didn't announce the decision to market).

    Not sure, though what you mean with "gone by 1 June"?
    ----
    "Prediction is very difficult, especially about the future" (Niels Bohr)

  5. #205
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    Got quite a bit of land in Hamilton.Pretty sure that they purchased a large block of land late 2017.
    A bigger divie would be nice and the sp to increase to reflect the amount that their land is valued at.

  6. #206
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    Good result today,another 3.5c divie.Land holdings look good for the future.

  7. #207
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    Quote Originally Posted by beetills View Post
    Good result today,another 3.5c divie.Land holdings look good for the future.
    Cannot complain, profit up, div maintained, EPS 12 cents and SP at 85. Future looks good.

    http://nzx-prod-s7fsd7f98s.s3-websit...512/294853.pdf

  8. #208
    percy
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    Good result for shareholders.
    Shareholders equity well up.
    Augers well for MCK which I hold.

  9. #209
    always learning ... BlackPeter's Avatar
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    Yep, while the second half was not quite as outrageously good as the first - still nice growth in revenue and earnings. And lets face it - where else can you buy a share with 12.1 cents EPS, revenue as well as earnings CAGR above 15% and a net asset backing of 76 cents for just 85 cents?

    And lets not forget ... the "lowish" net asset backing is only thanks ot their accounting policy to account for property at the lower price of valuation and purchase price.

    Discl: happy holder;

    Edit:
    (1) looks like SP going up since I last looked ... but hey - 86 cents still looks cheap, doesn't it?
    (2) Ah yes - and did I mention that their landbank alone is worth $1.21 per share ...
    ... I'd call that deep value game, but yes, low liquidity is the price to pay.
    Last edited by BlackPeter; 13-02-2019 at 03:14 PM.
    ----
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  10. #210
    The past is practise. Vaygor1's Avatar
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    CDI Metrics update including the latest results.

    Attachment 10316

    I see they're still up to the old trick of announcing an exuberant H1unaudited Profit increase (up 25% on the pcp) to set a high expectation for a FY result, which then comparatively disappoints thus suppressing the SP.

    I agree BP, the net asset backing makes this share a bargain on paper (as you have stated $1.21/share solely on the latest independent land valuations) , but given the ownership structure, their complete control, and nzx trading il-liquidity, I think it will always be a buy-cheap-sell-cheap share.

    I would have thought there would be a lot more to announce than what was announced yesterday. Perhaps there's more to come in the next few months? .... and when are those elusive imputation credits going to see the light of day?
    Last edited by Vaygor1; 14-02-2019 at 11:08 AM.

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