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  1. #3841
    Membaa
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    Quote Originally Posted by Maverick View Post
    Annual report is due out in about five weeks time. I,m picking 55.1 million underlying profit.5.6% up on last year. That's a PE of 11.5 at $1.04. (I'm hopeful the market might be pleasantly surprised as low expectations are already baked into the share price)
    The result will be pretty unremarkable as their new units delivered will be mostly empty at this point. I'm thoroughly convinced the company will do very well indeed in the years to come but at this stage the underlying results will most likely appear very sluggish.
    Agree, sometimes its hard to bring oneself to buying future prosperity when the immediate future looks rather flat, but at these prices every few cents makes a big difference to long term yield. Accumulation is like that, patience building a book, enjoying suppressed prices. The future takes care of itself.

  2. #3842
    percy
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    Quote Originally Posted by Baa_Baa View Post
    Agree, sometimes its hard to bring oneself to buying future prosperity when the immediate future looks rather flat, but at these prices every few cents makes a big difference to long term yield. Accumulation is like that, patience building a book, enjoying suppressed prices. The future takes care of itself.
    Agreed.
    However, sometimes you just have to stay solvent longer than the market stays wrong.!!..lol.
    It is called "conviction".
    Easier when the company such as OCA pays a divie.
    Last edited by percy; 16-06-2019 at 08:18 AM.

  3. #3843
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  4. #3844
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    Great...when the economists said it is going to soar..normally will go down. Just the way the predicted interest rate....when they said it is going up....it is always down and vice versa

  5. #3845
    Speedy Az winner69's Avatar
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    Quote Originally Posted by percy View Post
    Agreed.
    However, sometimes you just have to stay solvent longer than the market stays wrong.!!..lol.
    It is called "conviction".
    Easier when the company such as OCA pays a divie.
    Pretty dumb paying dividends (unimputed as well) when they have a negative free cash flow and need to borrow more to pay the divie ......as well a build more things
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  6. #3846
    percy
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    Quote Originally Posted by winner69 View Post
    Pretty dumb paying dividends (unimputed as well) when they have a negative free cash flow and need to borrow more to pay the divie ......as well a build more things
    Think you are right,and from the research I have read, they are expected to increase their divie.
    Last edited by percy; 16-06-2019 at 05:15 PM.

  7. #3847
    always learning ... BlackPeter's Avatar
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    Quote Originally Posted by winner69 View Post
    Pretty dumb paying dividends (unimputed as well) when they have a negative free cash flow and need to borrow more to pay the divie ......as well a build more things
    But is this what they are doing?

    Didn't went back into the financials, but according to 4-traders:

    https://www.marketscreener.com/OCEAN...10/financials/

    FY2018: 12.7 cents EPS, 4.7 cents dividend
    FY2019: 8.65 cents EPS, 4.93 cents dividend

    OK - I guess 2019 is still just a forecast, and from memory the earnings in the first HY have been pretty slim, but it still feels a bit premature to claim that they have to borrow money to pay the dividend - doesn't it?
    ----
    "Prediction is very difficult, especially about the future" (Niels Bohr)

  8. #3848
    Speedy Az winner69's Avatar
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    Quote Originally Posted by BlackPeter View Post
    But is this what they are doing?

    Didn't went back into the financials, but according to 4-traders:

    https://www.marketscreener.com/OCEAN...10/financials/

    FY2018: 12.7 cents EPS, 4.7 cents dividend
    FY2019: 8.65 cents EPS, 4.93 cents dividend

    OK - I guess 2019 is still just a forecast, and from memory the earnings in the first HY have been pretty slim, but it still feels a bit premature to claim that they have to borrow money to pay the dividend - doesn't it?
    Net cash from ORAs get counted in Operating Cashflows but cash for building things get counted in Investing Cashflows

    Adjusting for this Operating Cash Flow F18 was $4m and they paid $13m out in divies (H119 cash outflow $4m and divies paid $16m)

    Borrowings went up $69m in F18 and another $35m in H119 —- that’s $104m of which $86m funded property things (spend less income from ORAs) and $18m towards divies.

    That’s how I see the cash money go round anyway
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  9. #3849
    always learning ... BlackPeter's Avatar
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    Fair enough - though admittedly, as soon as they sell their units (and we are talking here hopefully months, not years from now), this money should be back in the kitty. Might not be as bad as for some players in other industries who need many years to repay their investments.
    ----
    "Prediction is very difficult, especially about the future" (Niels Bohr)

  10. #3850
    Speedy Az winner69's Avatar
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    Quote Originally Posted by BlackPeter View Post
    Fair enough - though admittedly, as soon as they sell their units (and we are talking here hopefully months, not years from now), this money should be back in the kitty. Might not be as bad as for some players in other industries who need many years to repay their investments.
    Yep, it goes back into the kitty to build more things and not pay divies. Wouldn’t need to borrow as much to build things.

    Oceania a growth company I’m told

    If punters want income from Oceania they should sell a few shares every year.
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

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