CDL & CDI ... Another Great Result

[podg]

any dividend would have to be approved, publicly declared and also paid to CDL shareholders on a stated date. as is the process now.

loans to parents are heavily scrutinised these days and can't see that getting through shareholder or board approval without negative publicity. so unlikely.

perhaps MCK might consider a formal takeover of CDL and offer shareholders a premium to current market price and have full access to all the goodies ...

[Vaygor1]

Interim report out today.
http://nzx-prod-s7fsd7f98s.s3-websit...856/307479.pdf

Revenue down on last year's H1 with a cautionary optimistic H2 stated.

CDI also stating they have/are using the lull in the market to purchase more land.

With CDI's policy of valuing its land-bank by purchase-price, recent land purchases bring their book value a little bit closer to the reality of what their land-bank is actually worth.

Due to the above, equity has grown to $216.5 million or $0.78 per share.

So with CDI's very conservative figure on land-value, if anybody thinks that today's share price at $0.76 per share isn't a steal, please enlighten me.

Disc: Long time holder and still holding.

[greater fool]

Old content, no longer of use. Gone.

[blackcap]

Most downbeat commentary ever. Talking the market price down.
Think they have been doing more than just talking, suspect strategic
selling in MCK and CDL has been going on for some time to depress
SP before the inevitable.
When the takeover happens, suspect the margin over and above current
market pricing will be loudly proclaimed, rather than the the deep discount
to NTA they will be stealing.

Disc: hold CDL and MCK.
Other holders may want to look at this;

https://www.sharetrader.co.nz/showth...l=1#post767911

Been some very interesting ( to me ) announcements in London and Singapore overnight!

I am not too concerned. We in NZ have protections under the companies act with emphasis Sections 110 and 111. They will have to pay me at least Market Value of assets + cash - liabilities to get my shares off me. So if they do go via the takeover route and get more than 90% acceptances I will be receiving more than $1 for my shares.

[BlackPeter]

Most downbeat commentary ever. Talking the market price down.
Think they have been doing more than just talking, suspect strategic
selling in MCK and CDL has been going on for some time to depress
SP before the inevitable.
When the takeover happens, suspect the margin over and above current
market pricing will be loudly proclaimed, rather than the the deep discount
to NTA they will be stealing.

Disc: hold CDL and MCK.

Holders may want to look at this;
https://www.sharetrader.co.nz/showth...l=1#post767911
Been some very interesting ( to me ) recent announcements in London and Singapore.

Sure - if they want to make a full takeover offer, than now is the best time. I expect that the past HY was CDI's weakest and business is clearly taking up again - i.e. every month they wait they will need to pay more.

And yes - the current SP does not really make sense looking at earnings, outlook and fundamental value of their assets, i.e. quite likely that the majority owners pushed the price down as far as possible by selling some of their huge holdings into a low liquidity markt.

An amazing time to buy more - problem is just that the strategic sellers definitely have more shares to sell than I ever could afford to buy. Damn - they win and likely keep the price low!

[greater fool]

Old content removed.

[BlackPeter]

Have a look at posts #222,#223,#224,#225...

Start here at 222;
https://www.sharetrader.co.nz/showth...l=1#post753014

You are right - and looks like I was wrong. Aberdeen going below 5% clearly gives them enough hidden ammunition to keep the SP low for longer than any takeover preparations might need.

[BlackPeter]

looks like markets noticed that the big real estate crash was just a sham ...

I like the trend chart. Congratulations to everybody who loaded up at the recent lows around 70 cents :

CDIchart.jpg

[mfd]

looks like markets noticed that the big real estate crash was just a sham ...

I like the trend chart. Congratulations to everybody who loaded up at the recent lows around 70 cents :

CDIchart.jpg

Now trading at a dizzying PE ratio of 7.2. Still holding, still happy, topped up a little in the low 70s. Expecting lower profits this year than last, but I'm confident in the long term outlook.

[BlackPeter]

Now trading at a dizzying PE ratio of 7.2. Still holding, still happy, topped up a little in the low 70s. Expecting lower profits this year than last, but I'm confident in the long term outlook.

Absolutely - and all the recent good news for the property market can only help.

BTW - was this the Golden Cross we just saw passing by ?

At this stage I have them based on (I think) pretty conservative earnings estimates on a forward PE of 8.8 together with an (again I think very conservative) earnings CAGR of 8. And all this income is basically for "free", given that the share value is already covered by the worth of the land bank, which is probably growing in a budding property market.