Quote Originally Posted by Vaygor1 View Post
Yes BP. A good sign when a spike up appears about the same time the auditors and others get to see the FY results.

CDI's timeframe to convert land purchases into section sales is so lengthy, I would expect the increase in NZ property prices to reflect in increased earnings for CDI for a long time yet. Looking forward, perhaps a reduction in the number of sections sold per annum has more likelihood to slow things down than a reduction in profit/section-sold?
Like your thinking (though obviously - any correlation between auditors seeing unpublished results and SP spike would be purely coincidental) ... and yes, you are right - they had from memory in the last report still more than $100m worth of development properties on their books - and this is at book value (i.e. at the price they paid for it). I don't think they will soon run out of earnings opportunities.