OCA - Oceania Group - retirement villages

[Beagle]

"Of the 2,065 beds and units in our total development pipeline, 73.4% already has resource consents in place, considerably reducing the risk associated with delivery of this new product over the next six years."

Consenting percentage is up significantly over the last year. Almost the exact opposite of SUM other Boulcott fiasco's.

[couta1]

"Of the 2,065 beds and units in our total development pipeline, 73.4% already has resource consents in place, considerably reducing the risk associated with delivery of this new product over the next six years."

Consenting percentage is up significantly over the last year. Almost the exact opposite of SUM other Boulcott fiasco's.

SUM others care quality is also lacking by comparison.

[Beagle]

SUM others care quality is also lacking by comparison.

Yes...so the old vulnerable folks are extremely well looked after and very happy and with the huge wage bill increase nurses and other caregivers are also very happy....just have to be patient and then us shareholders will also be very happy. Beagle's not known as a breed for their patience when it comes to waiting for a feed and hard for an old dog to learn new tricks but I will try and learn to be super patient. Might need some more cuddling and pats along the way though lol

Wonder where maverick is today...maybe still digesting the full presentation...maybe he could give me / us an encouraging pat ?

Suppose 2.1 cps divvy is sort of okay (same as last year), but a bit mean they didn't put it up by the 8% increase in underlying normalised profit they claim they've made, should have been 2.3 cps rounded up to the nearest decimal place. Suppose it won't hurt this old dog to eat less than expected next month...could do with losing some weight anyway lol

Accounts are not an easy read by any stretch of the imagination...some might even call them an obfuscation. Maybe I need to go back to Uni and learn all these new accounting tricks they're using these days...or I suppose we could just accept them at their word that underlying profit is up about 5% and accept the same dividend on the basis that we're investing for more capital growth going forward....who knows, my head hurts trying to understand the accounts...is it too early for a drink ?

[dr_]

Wealth is built over time and not in day or year (Incase won lotto). OCA is great long term hold stock with growth and decent divi return.

[Beagle]

Wealth is built over time and not in day or year.

I think I might get a brass plaque made up with that on it followed by "Rome wasn't built in a day" inscribed underneath and put that on my desk then I will be happy.

[Onion]

P29 of the presso...

Given the emphasis on care, I was interested to see that 'Aged Care EBITDA' is down.

1HY2019 vs. 1HY2018
Underlying: $14.1m vs $16.4m
Per bed/suite: $11,564 vs. $13,236

I would have thought that this would be a fairly stable measure -- unlike many of the other parts of the result that can vary greatly depending on the development cycle and valuations.

Costs climbing faster than revenue?

Is this going to be a challenge for future years? I had a quick look at the ARV HY results but could find no comparative metric.

[peat]

The problem with earning money in the future is that it’s not worth as much as earning money now. All good though, just not overexposed

[bull....]

as was saying before xmas resales were down was an explanation for the price decline end last yr. this will flucuate so no cause for concern even underlying npat of 1m was ahead of 2018 so thats positive. big increase in costs put the big dent in npat for care facities so not can do there at the moment. probably why the price is not down 10% today as resale decline etc was already built into the price. div didnt go up because only pay 50 - 60% so it was similar to last yr

[winner69]

I think I might get a brass plaque made up with that on it followed by "Rome wasn't built in a day" inscribed underneath and put that on my desk then I will be happy.

One guy said “Rome Wasn't Built in a Day, But They Were Laying Bricks Every Hour.” .....hope Oceania are doing that

But we shouldn’t forget

Rome wasn’t built in a day, but it burned in one.

[LAC]

I think I might get a brass plaque made up with that on it followed by "Rome wasn't built in a day" inscribed underneath and put that on my desk then I will be happy.

Realllllly really hope you do so
Last year this time you said SUMing like....
"LOL that's a good one but I am happy to hold long term with SUM. They have a track record of very strong underlying EPS growth and its EPS growth that counts."

But alas it was a long term of uuum not a very long term, so I think a plaque should be a good reminder