CDL & CDI ... Another Great Result

[LaserEyeKiwi]

Looking forward to the earnings indeed. I am holding via MCK. Thought about taking a position in CDL itself, but the discount to assets in MCK was too great an opportunity since it owns two thirds of CDL anyway.

[Southern Lad]

In April 2021 CDL announced the sale if 3.8 ha of industrial land in Wiri to a company owned by Graeme Hart. See http://nzx-prod-s7fsd7f98s.s3-websit...247/344861.pdf

As settlement was due for January 2022, I was expecting an update but nothing so far. The Dec 2021 year end result is probably a couple of weeks off if past release dates are anything to go by, so maybe we will get an update then.

www.qv.co.nz does however contain the following detail for the property https://www.qv.co.nz/property-search...tails/3255199/. This details a March 2021 sale at a tad over $29m. I wonder if this is the sale that was expected to settle in January 2022 or something different - maybe the contract date rather than the settlement date?

[LaserEyeKiwi]

CDL & MCK have announced results between Feb 8th - 17th over the last 5 years (17th, 8th, 13th, 10th, 17th for 2016-2021 results) so if that is a guide we might get them this week, and very likely by the end of next week.

[podg]

it's always a friday. short week this week, so probably next week. I'd forgotten about that Wiri sale. either way, it won't be part of dec-31 full-year result. still keen to know the final number. could just about go into a special dividend.

[podg]

CDL share price finishes the week on a strong note. on a day when the rest of the market was weaker.

[LaserEyeKiwi]

it's always a friday. short week this week, so probably next week. I'd forgotten about that Wiri sale. either way, it won't be part of dec-31 full-year result. still keen to know the final number. could just about go into a special dividend.

hopefully we get earnings tomorrow…

[podg]

Later this morning i'm picking. Fletcher building posted a very encouraging result, for them and the sector. Every reason to think CDL will do the same.

[LaserEyeKiwi]

Results are out: https://www.nzx.com/announcements/387507

[LaserEyeKiwi]

Summary of results:
-- Profit after tax $31.3 million (2020: $30.1 million)
--Profit before tax $43.4 million (2020: $41.8 million)
--Property sales & other income $92.1 million (2020: $88.8 million)
--Shareholders’ funds $286.4 million (2020: $257.1 million)
--Total assets $297.6 million (2020: $265.0 million)
--Net tangible asset value (at book value) 99.6 cents per share (2020: 91.7cps)
--Earnings per share 10.96 cents per share (2020: 10.75cps)

[BlackPeter]

[FONT="]Summary of results:[/FONT]
-- Profit after tax $31.3 million (2020: $30.1 million)
--Profit before tax $43.4 million (2020: $41.8 million)
--Property sales & other income $92.1 million (2020: $88.8 million)
--Shareholders’ funds $286.4 million (2020: $257.1 million)
--Total assets $297.6 million (2020: $265.0 million)
--Net tangible asset value (at book value) 99.6 cents per share (2020: 91.7cps)
--Earnings per share 10.96 cents per share (2020: 10.75cps)

Just love their balance sheet:

Total assets $298m, Total liabilities $11.2m (i.e. 3.8% - that's as lazy as it gets ...) and they still make a return on equity of nearly 11%! Respect!