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  1. #3071
    ShareTrader Legend Beagle's Avatar
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    As you suggested earlier mate there is plenty of work for the OCA team to do to make their accounts more comprehendible. A profit bridge like AIR do in their analyst presentations would be very useful.
    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

  2. #3072
    Speedy Az winner69's Avatar
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    Probably a simple and rationale explanation for this and if anybody can explain it would be appreciated

    I’m still puzzled as to why when Oceania sold 42 more new units and had 10 more resales in 1st half of year compared to the prior corresponding period their underlying earnings only went up $1m or so.

    One reason seems to be that the realised gains per sales on new units has fallen from $220k (H218 number) to a mere $151k this period. Making $69k (or 30%) less on each sale just doesn’t seem right.

    I also note that realised gains per resale has fallen from $92k to $75k (20% less) in the same time.
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  3. #3073
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    Quote Originally Posted by Beagle View Post
    That's an ugly debt level considering residents pay all their occupation licence fees up front. How on earth did they end up with that level of debt mate ?
    Never forget this was a private equity sale ex an Aust vendor

  4. #3074
    ShareTrader Legend Beagle's Avatar
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    I believe all the new units sold were modest value care suites, (down the line somewhere, sorry forget where) so that would explain the lower profit per new unit.
    Second half should see the sale of plenty of much higher value apartments in Auckland.
    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

  5. #3075
    Speedy Az winner69's Avatar
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    Quote Originally Posted by Beagle View Post
    I believe all the new units sold were modest value care suites, (down the line somewhere, sorry forget where) so that would explain the lower profit per new unit.
    Second half should see the sale of plenty of much higher value apartments in Auckland.
    In H119 they sold 2 more villas, 4 more care units but 16 less apartments than previous 6 months (H218)

    So average realised gains being down so much not really a case of selling heaps more care units but rather from selling a lot less apartments.

    So hopefully everything is weighted to the second half of the year eh
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  6. #3076
    Alley Cat Brain's Avatar
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    Boy the sentiment has certainly changed on this thread. A while ago OCA was the bees knees ,the cats pyjamas , OCA could do no wrong. Now Lola has pointed out that it was a private equity Sale.
    Private equity sale is Dick Smith, Intueri and many others that have swindelled investors out of millions. Head for the hills , the sky is falling in. Newbie investors take note the sharemarket is a very fickle place to invest. The sharemarket is not rationall. You may see the wise heads doing detailed financial analysis but in the end it is all about fear and greed nothing more nothing less.

  7. #3077
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    Quote Originally Posted by Brain View Post
    Boy the sentiment has certainly changed on this thread. A while ago OCA was the bees knees ,the cats pyjamas , OCA could do no wrong. Now Lola has pointed out that it was a private equity Sale.
    Private equity sale is Dick Smith, Intueri and many others that have swindelled investors out of millions. Head for the hills , the sky is falling in. Newbie investors take note the sharemarket is a very fickle place to invest. The sharemarket is not rationall. You may see the wise heads doing detailed financial analysis but in the end it is all about fear and greed nothing more nothing less.

    In fairness sentiment has only changed after the financials were released. You can't fault people for changing their mind or altering their view when new information is available, in fact I find it honorable.

    I agree with regards to being skeptical on any private equity sell off and personally am in no rush to load up on theses but am grateful to the free analysis posted here. I'm even more more appreciative of posters admitting when things may not be as rosey as they initially thought.

  8. #3078
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    Quote Originally Posted by Lola View Post
    Never forget this was a private equity sale ex an Aust vendor
    Exactly the same as SUM was, so how has that company done since listing.
    Last edited by couta1; 10-02-2019 at 07:20 AM.

  9. #3079
    percy
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    Quote Originally Posted by couta1 View Post
    Exactly the same as SUM was, so how has that company done since listing.
    Same as Scales,SCL, great for investors.

  10. #3080
    Senior Member hardt's Avatar
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    Quote Originally Posted by Beagle View Post
    I believe all the new units sold were modest value care suites, (down the line somewhere, sorry forget where) so that would explain the lower profit per new unit.
    Second half should see the sale of plenty of much higher value apartments in Auckland.
    81 care units delivered at Bayview.

    Of new and existing unsold developments they sold:
    24 care suites
    24 apartments
    17 villas

    Seems evenly spread.

    Resales
    47 care suites
    8 apartments
    24 villas

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