Originally Posted by
nztx
Bear in mind that CAV's properties don't appear to have been revalued in the books
as far as I can see from their Reports .. "Cost or Deemed Cost" in Note 5A of the
2019 Annual Report
From Preliminary 2020 FY Report filed with NZX:
Under Note 6 (Page 26)
AUCKLAND PROPERTY
"The Group’s property, plant and equipment includes the Auckland property with a carrying value of $12,877,000 that was sold and leased back subsequent to the balance date. The property was not classified as held for sale at the balance date as other funding arrangements for the transformation to an allwool and natural materials organisation were being considered at that time, and the final offer that was made for the property subsequent to the balance date was subject to consideration and approval of the Directors, Overseas Investment Office (OIO) and shareholder approval. "
The last 2 years Years Reports include some fairly hefty other write downs, provisioning, restructuring provisions& exit from former business joint venture etc coming through into bottom line
Realised Property Gains must add to reported NTA, if this is the case