CDL & CDI ... Another Great Result

[podg]

Good question. Given however that MCI hold more than 50% I assume that they have CDI at cost in their books - i.e. shouldn't matter too much for them, unless they want to go for a takeover of CDI or the mother wants to take over MCK NZ.

As well - what are they supposed to do if they don't like it? Sell down? Might work in the short run, but would probably increase the price in the longer run ...

Some genuine pressure on the SP to start the week ... $1 is now a realistic goal before the full-year announcement in about 5 weeks?? Never been this high before. Is it too much to conclude that the market is expecting not only a better result, but a much higher div yield ??

[podg]

"In a third approved decision, 46ha in Hamilton is being sold by Geange Farms Limited
to CDL Land New Zealand which is 39 per cent New Zealand owned, and an NZX-listed company.

CDL planned to develop residential housing sections on the land, creating a modern,
high-quality residential subdivision which would then be sold on the open market.

The OIO said CDL had a number of other investments which had provided jobs and the
land was still at least partially remaining New Zealand owned."

http://www.nzherald.co.nz/business/n...ectid=11985547

very interesting ... and a good result for CDL. Later in the same article is some equally interesting detail about parent companies increasing their holding in subsidiaries, which may impact on CDL at some point.

[blackcap]

Looks solid enough to me. Divi up 16% to 3.5c. EPS 11.6c

http://nzx-prod-s7fsd7f98s.s3-websit...926/274069.pdf

[BlackPeter]

Looks solid enough to me. Divi up 16% to 3.5c. EPS 11.6c

http://nzx-prod-s7fsd7f98s.s3-websit...926/274069.pdf

Yep, good result - as to be expected. 2nd HY growth however not as great as first HY, but I guess this was to be expected as well (given the state of the housing market and elections / new government).

Market cap ($266m) still below market value of asset base (@276m);

Quiet achiever - great investment!

Discl: happy long term holder ;

[podg]

Yep, good result - as to be expected. 2nd HY growth however not as great as first HY, but I guess this was to be expected as well (given the state of the housing market and elections / new government).

Market cap ($266m) still below market value of asset base (@276m);

Quiet achiever - great investment!

Discl: happy long term holder ;

Low-key reaction to the result on the sharemarket. Announcement late in the day and it has been a difficult week for the market, so not entirely surprising. Perhaps the recent rise in the share price to record levels indicates where the market thought the result might be. A 4c div would have pushed the share price through the $1 mark in all likelihood ...

[Vaygor1]

Dead right BP.... another sterling result \(o,o)/

Here is my annual CDI metrics update. Have added a 'PE ratio at announcement' column.
Plenty of SP headroom in the latest result. A PE ratio of just 10 = SP of NZ$1.16

Attachment 9470

A current PE of 8.3 with record profits year-on-year for 8 consecutive years and a mkt cap less than their asset base.... sounds like excellent value to me.
Even if CDI encounter 0% increase in reported profit per annum for the foreseeable future, current EPS at current SP means a Return On Investment of 12%/annum.

Disc: CDI holder and accumulator since July-2013.

[beetills]

Does this result include the purchase of the 46ha in Hamilton as mentioned previously?

[beetills]

Large volumes traded today for CDI.
Didn't see anything in their presentation to cause this or did i missing something.

[blackcap]

Large volumes traded today for CDI.
Didn't see anything in their presentation to cause this or did i missing something.

No me neither.. had to laugh at the presentation though. Looked like a year 13 student would prepare for an economics presentation or something similar..
but this just came out and may explain your query...

Summary for: Adrian Ho
For this disclosure,--
(a) total number held in class: 21,763,600
(b) total in class: 278,118,487
(c) total percentage held in class: 7.83%

For last disclosure,--
(a) total number held in class: 26,608,000
(b) total in class: 275,468,365
(c) total percentage held in class: 9.66%

Details of transactions and events giving rise to relevant event
Details of the transactions or other events requiring disclosure under the
instructions to this form:
Sold 6,055,400 shares at 94 cents.

[Vaygor1]

No me neither.. had to laugh at the presentation though. Looked like a year 13 student would prepare for an economics presentation or something similar..
but this just came out and may explain your query...

Summary for: Adrian Ho
For this disclosure,--
(a) total number held in class: 21,763,600
(b) total in class: 278,118,487
(c) total percentage held in class: 7.83%

For last disclosure,--
(a) total number held in class: 26,608,000
(b) total in class: 275,468,365
(c) total percentage held in class: 9.66%

Details of transactions and events giving rise to relevant event
Details of the transactions or other events requiring disclosure under the
instructions to this form:
Sold 6,055,400 shares at 94 cents.

I haven't done the calcs but I think this sale finally fixes CDI's breach of NZX rules regarding minimum percentage requirements for public holding. When Adrian owned 10%+ of the business, his holding (according to the rules) was deemed non-public.
This just my preliminary view.