Hi PT I guess I must've bought part of your SUM share sell down at $3.29... Thanks:)
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^^ LOL Revenge is sweet :)
Now given that the second line up was at $3.17 and the bottom line was at $3.05 you're guess is wrong.
But well done for buying.
My last buy was at $3.28 but that was last November.
Result looks promising for Summerset being able to live up to the expectations we all seem to have for it.
Best Wishes
Paper Tiger
So you've worked in the retirement industry, are moved along a lot could work in the sluice room who knows as you don't want to share and thats fine. Yes of course we can draw our own conclusions. Thanks.
Looks like the Retirement ind in fine fettle.
Bit disappointing that result today ... below my expectations anyway
ratkin said fully priced and earnings need to catch up. I agree so in the meantime at best just a steady rise in shareprice, nothing spectacular from here
Update on linear regression channels - avoided going below the bottom channel line last week. Todays rise still has price below the actual trend line ($3.58). So still in with this 2 year trade. Long may it continue at the 0.85% per week rise ..... no acceleration I am afraid. That growth rate is about the rate of earnings growth so if fully valued expect a pullback of sorts. If world markets collapse SUM will have a 2 in front of it
Omg these guys have no idea do they.
Nobody has ever responded to me whether they see the possibility of perceived super profits being reined in by an unfriendly government as a risk to investing in sum or RYM.
And I am not da facts
From NBR
http://www.nbr.co.nz/article/summers...52385#comments
#1 by da facts 7 hours ago
Is it just me or is making super profits out of old people a bit off. A big non for profit business should be launched (e.g Southern Cross type) to keep this activity in check.
by Share Watcher 1 hour ago in reply to da facts
So what's stopping you then?
#2 by Anonymous 4 hours ago
I couldn't agree more with "Da Facts" we were interested in looking at one of their units, but having been in the construction industry all of my life, there was no chance in hell I was going to pay that sort of asking price for one of their units, they are extremely poor value for what they are, it is a shame that the frail elderly are being separated with their money in favour of massive profits to a corporation that has no conscience.
Take the profit before tax (NPBT) deduct the fair value movement of investment property (revaluation gains) and:
FY2013 SUM made a NPBT of $2M0
FY2012 SUM made a NPBT of -$0M7 (loss)
So currently SUM is a de facto non-profit provider of retirement living accommodation and services.
The perceived profit is just the normal increase in the value of property and land.
MET is much the same.
Now RYM is a different beast entirely they made $31M3 NPBT of real money for FY2013 and another $16M4 NPBT for the first half of this year. But that is not particularly a great return on 1.8 billion dollars of property or even 780 million dollars of equity.
So not a lot of profit to cut anywhere.
Best Wishes
Paper Tiger
Disclaimers:
1 - Own MET, SUM & RYM (specified in strictly alphabetical order)
2 - Nothing in this post should be construed as criticism of, or preference for the retirement sector in general or specifically; nor as criticism of, or preference for any particular retirement village operator, listed or unlisted, for-profit or not for profit.
Winner before any Government would have a right to be concerned with any super profits which PT has pointed out don't exist they would have to address the current and ongoing large underfunding issue created by themselves running at around 500 mil/year currently