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  1. #226
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    I know it's XD but the share price appears to on the slide.Anyone with a possible explanation.Seems to be a good time to buy but the next divie will be 12 months away.

  2. #227
    percy
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    Weak property market means they face headwinds for the foreseeable future..

  3. #228
    always learning ... BlackPeter's Avatar
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    Quote Originally Posted by beetills View Post
    I know it's XD but the share price appears to on the slide.Anyone with a possible explanation.Seems to be a good time to buy but the next divie will be 12 months away.
    PE below 6 (based on last years 12.1 cents EPS); Even if they don't manage to grow last years EPS (which they did so far every year for the last 8 years) - this is a good price.

    Even if sales activity would deliver next year only half of last years earnings (and there is no indicator showing that), they would still have a healthy PE .

    Ah yes, and NTA per share (based on their property at buy in price) is already 76 cents. Current valuation of their landbank is above $1 per share.

    However - they are clearly a stock with low liquidity. Not good if an investor needs to sell them in a phase like now.
    ----
    "Prediction is very difficult, especially about the future" (Niels Bohr)

  4. #229
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    What do people think of the latest result.
    IMO with land on hand and with them indicating the purchase of more in the future things may get better especially with previous announced intentions to add commercial buildings on their sites to add extra income..I will be holding the few shares i have and adding if funds become available.

  5. #230
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    looks like a new phase has started … adding to the land bank. so lower profits and reduced dividends are likely if past payouts during this phase are any indication. patience is the key, for investors, as we wait for the demand-supply curve to return to supporting the sale of sections developed. the rewards in recent years have been good, so perhaps there is an opportunity to add to the shareholding. time will tell …

  6. #231
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    It's just my curiosity. CDI as a property developer, how come it doesn't have any mortgage held?

  7. #232
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    Quote Originally Posted by Lease View Post
    It's just my curiosity. CDI as a property developer, how come it doesn't have any mortgage held?
    as long as I have been with CDI, it has never had debt, and I have been a shareholder for more than 20 years. it started off with a load of tax-loss credits so never felt the need to borrow. rare, but effective

  8. #233
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    Their net assets are probably worth double the current shareprice.
    They seem on track to post a record profit this year.
    The dividend should at least hold steady

  9. #234
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    I'd be very surprised to see record profits given the first half was well down on last year, but I agree they have a big stash of land to develop, a wad of cash to buy more land, and they continue to trade at amazing multiples.

    I had an interesting read through their old GFC financials - it looks like if the **** really hits the fan the company will just hibernate, sit on their land, and emerge in spring. No debt, apparently low fixed overheads, solid company.

  10. #235
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    Reread the half yearly they are expecting a solid second half

  11. #236
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    They won't want to end their 7 year run of increasing profits.

  12. #237
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    I'll be very happy to be proven wrong, but with first half sales down by 1/3 I doubt they will be able to recover sufficiently in the second half. Commentary states conditions are challenging and the market is soft despite believing the second half will improve on the first.

    I'm sure they would like profits to increase again, but they don't necessarily get to decide that if conditions are against them. With a PE based on last year's results of about 6, the market is clearly pricing in some reduce profits. I still hold and am confident they'll do nicely in the long term.

  13. #238
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    One concern is CDI largest shareholder is MCK. MCK has properties at global presence. If, say, there is economic recession in next a couple of years, and MCK get into trouble. Is it possible MCK take cash from CDI?

  14. #239
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    Quote Originally Posted by Lease View Post
    One concern is CDI largest shareholder is MCK. MCK has properties at global presence. If, say, there is economic recession in next a couple of years, and MCK get into trouble. Is it possible MCK take cash from CDI?
    take cash from CDI ….. it what way, do you think??

  15. #240
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    Quote Originally Posted by podg View Post
    take cash from CDI ….. it what way, do you think??
    The only clean way to do it is distributions to MCK and then MCK does a distribution to its shareholders etc.

    The distribution could be a dividend, share buybacks or similar.

    There's also dirty distribution methods whereby CDL makes loans to the parent but i think that would need shareholder approvals.
    Last edited by Scrunch; 19-08-2019 at 05:34 PM. Reason: Add comma

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