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28-05-2020, 12:16 PM
#321
Member
Originally Posted by macduffy
I've probably taken a few - and I mean a <em>few</em>- off their hands recently.<br>
<br>
<img src="images/smilies/001_smile.gif" border="0" alt="" title="Smile_2" smilieid="17" class="inlineimg">
well perhaps that is a pointer to individuals, rather than institutions, taking a stake. Personally, i would prefer to see more shareholders on the register because the stock is so tightly held and has been for years. A few more shareholders might encourage more trading and attract more smaller investors<br>
<br>
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20-06-2020, 12:37 PM
#322
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
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29-07-2020, 09:25 AM
#323
Good job from the team in the first half of the year, profit only slightly down despite the period fully including the lockdown period. A little cautious about the next half, but I note they still have a huge pile of cash on the sidelines so a deteriorating market is not all bad as they may be able to pick up some well priced land.
https://www.nzx.com/announcements/357015
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29-07-2020, 09:26 AM
#324
Member
Another steady as she go's result.
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29-07-2020, 09:28 AM
#325
Half year results are out ... and looking nice:
https://www.nzx.com/announcements/357015
CDL Investments New Zealand Limited ("CDI") can report that the Company has
made an unaudited operating profit after tax of $13.74 million for the six
month period ending 30 June 2020 (2019: $15.10 million). Operating profit
before tax was $19.09 million (2019: $20.98 million).
The result is particularly creditable given the fact that New Zealand as a
whole was in a lockdown for six weeks from 26 March through to 14 May.
Despite the restrictions on physical movement, online sales and promotional
activity was able to continue which demonstrated that in the first six months
of this year, interest in CDI's subdivisions and sections has not waned.
Property sales and other income for the period was $40.96 million which
exceeded last year's figure of $40.29 million. Net Asset Backing (at cost)
for the period under review was 85.9 cents per share (2019: 77.6 cents per
share).
Revenue up, NPAT still 91% of last years record number (despite a 6 week lockdown holiday), Net asset backing up (and - as usual - above the share price). Outlook for the second half a bit softer, but still:
Our target is to deliver another positive result and a dividend to shareholders once again but the economic effects of COVID-19 are expected to be significant and long-lasting. While the New Zealand property market has passed its peak, we remain quietly confident about our prospective sales for the rest of the year.
Long term PE below 10 ... amazing asset backing ... and yes, I loved this years May dividend and expect another one around the same time next year.
Nice little money earner - happy holder here.
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"Prediction is very difficult, especially about the future" (Niels Bohr)
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29-07-2020, 07:11 PM
#326
A pleasing result released by CDI this morning. My observations:
1. Great to see the release of the half year figures within 29 days from 30 June;
2. Gross margin percentage achieved is impressive at 51.1%, but down a bit on FY19’s 55.9%;
3. CDI continues to run a very lean ship in terms of staff numbers and costs;
4. Directors have a history of expressing caution and then over delivering, so while the current caution is appropriate I take it with a grain of salt.
5. With the low dividend payout ratio, NTA continues to increase. Given managements track record of earning a great return, the share price justifies increasing year on year. I suspect the continued sell down of shares by Aberdeen Standard Investments is keeping a damper on price. until they finish selling, the are opportunities to accumulate at attractive prices.
6. Current MCK ownership appears stable. No prospect of a full takeover anytime soon and it doesn’t look like they need to sell out either.
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30-07-2020, 08:59 AM
#327
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"Prediction is very difficult, especially about the future" (Niels Bohr)
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02-10-2020, 02:07 PM
#328
Any updated thoughts here guys? Share price seems to be dropping further for no apparent reason. Balance sheet and net asset backing looks good? Dividend, property based.....
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02-10-2020, 02:51 PM
#329
Content passed use by date. Edited
chocfish.png
Last edited by greater fool; 10-01-2021 at 03:39 PM.
Reason: Left Field
"There is something wrong with a regime that requires a pyramid of corpses every few years." George Orwell.
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02-10-2020, 02:57 PM
#330
Member
Originally Posted by jimdog31
Any updated thoughts here guys? Share price seems to be dropping further for no apparent reason. Balance sheet and net asset backing looks good? Dividend, property based.....
I think "Aberdeen Standard Investments" is selling their their position. On 27 May 20 they had 6.3%, 16 September they had 4.7%
Its a thinly traded stock as mostly owned by MCK. Aberdeen Standard Investments also have similar size holdings of MCK and they have been selling that as well. MCK hasn't bounced off its March lows like other tourism stocks
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