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12-01-2015, 10:56 AM
#2831
Originally Posted by NewGuy
Good to see that your repeated earlier forecast of a 20% fall in earnings is almost certainly wrong.
Don't count your chickens yet son.
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12-01-2015, 10:57 AM
#2832
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12-01-2015, 11:03 AM
#2833
Excellent result. What was all the fuss about??? Poor Roger will be mortified
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12-01-2015, 11:04 AM
#2834
Originally Posted by Roger
Good result for one quarter out of fourbut on a 12 month view its down just on 20% while the market is up 17%...so a relative underperformance of 37% !!!
Yep sales overall for the year are up modestly but expenses for the first half were also well up so if one assumes that expense trend to continue in the second half maybe circaa flat EPS result for the year depending on tax situation.
Somewhere around 10 cps underlying EPS puts SUM of a 2014 PE of 30. Cheap for a stock that's not materially growing EPS ? Not it my book.
The thing is this sector has a massive tailwind Roger and as your old mate Norah stated a couple of years ago Sum is a long term investment(Sorry mate couldn't resist) Ryman may be best of breed but they can't meet the demand on their own so Sum is well positioned as the second biggest developer and IMHO offers the most upside from its current price of all the listed companies despite their failings.
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12-01-2015, 11:06 AM
#2835
Originally Posted by ratkin
Excellent result. What was all the fuss about??? Poor Roger will be mortified
Not at all. Surprised by Q4 sales but I take a longer view. Holders are the ones who should be mortified with a whopping 37% under-performance v the NZX50 in the last 12 months.
Don't feel sorry for me mate, my portfolio comfortably outperformed the NZX50 last year and I'm "well positioned" for 2015.
Couta1 - So am I to take it that the arrogant manner in which SUM management have mishandled the Boulcott development, their slowness to see the need for dementure units, and their inaction in matching RYM and MET's fixed fee for life leaves you with no current concerns whatsoever over management's / directors abilities ?
Last edited by Beagle; 12-01-2015 at 11:12 AM.
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12-01-2015, 11:17 AM
#2836
Fine tuned forecast NPAT for FY14
Up a tad because housing market still on a roll - forecast now $45m
That's 21 cents per share
Last edited by winner69; 12-01-2015 at 01:20 PM.
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12-01-2015, 11:22 AM
#2837
Originally Posted by percy
I added to our holding at the open $2.92.Was prepared to go to $2.95 so pleased.
Has brought our average to approx. $1.42ps.
I note the share price has moved above both the 50 day EMA $2.79 and the 200 day EMA $2.96,so looks as though we are back in the new uptrend?
Looking at Yahoo! sp stats, I don't think that the SUM sp has been under $1.42 since the first 3 months or so after its listing at the end of 2011. Does that mean that this is your first additional purchase since then? If so, it seems like a big vote of confidence from yourself on the back of the latest metrics.
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12-01-2015, 11:22 AM
#2838
Originally Posted by winner69
Fine tuned forecast NPAT for FY15
Up a tad because housing market still on a roll - forecast now $45m
That's 21 cents per share
I think I'll take that as confirmation you're now long this stock. Average brokers 2015 forecast according to Reuters is about 14.5 cps...but how they can guess that when the company itself refuses to issue a forecast, is presently talking down the outlook and they haven't even released 2014 EPS is anyone's guess. 13.9% growth in annual sales is hardly stellar.
Last edited by Beagle; 12-01-2015 at 11:26 AM.
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12-01-2015, 11:25 AM
#2839
Roger note I said despite their failings, personally I've pushed the company regarding the Dementia unit issue and fixed fees and its up to other shareholders to do the same if they feel strongly enough about it ( The AGM isn't far off so a good chance for others to speak up)
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12-01-2015, 11:28 AM
#2840
Originally Posted by snapiti
so what you are saying is even poor management can achieve good results in a booming sector.
Probably very true........ but we have all heard the saying it is not till the tide goes out that you can see who has been swimming with no pants on
Are you still holding Snapiti?
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