Retirement village operators

[Snoopy]

Not quite, but CDI comes close. FY2018 profit of $33.6 million, FY2010 profit $2.9 million = 35.7% CAGR. I'll have to disappoint you on the PE in the mid teens though, CDI is only trading at a PE of about 11. Also trading well under NTA (market cap $252 million, they own land worth $338 million as of the last annual report and about $40 million in cash).

I guess SUM is not a bad second option if you already have enough CDI.

I have to admit I have cast my eye over CDI mfd.

A significant difference between the 'good' retirement village operators and CDI is that the likes of Ryman have their own team of builders as well as their own land bank. Thus Ryman can control all steps of the project development process, whereas CDI cannot. This could leave CDI land values liable to be written down as building cots rise so that the CDI total subdivision development costs remain competitive (?).

SNOOPY