Originally Posted by
Beagle
I've had enough and have sold out. From the capital raise I distinctly remember all the conditionality around the eps accretive statements. Whole pile of stuff in the fine print. They already have a whole litany of pre-prepared excuses why the recent acquisition won't be eps accretive.
They teased and fooled me with that eps accretive talk...like dirty talk to a Beagle, telling him the size of his food bowl will increase.
Take the loss on the chin like a man and move on.
I have serious reservation these deserve to trade at any premium to NTA as Winner is quite right, they have a long history of issuing heaps of new shares and growing eps very slowly. Also their development margins have never been crash hot and will be under the pump with supply chain issues and rampant construction cost inflation and a falling real estate market.
Previously, some months back I thought the huge ramp up they had forecast in new unit build was a strength, now I see it as a material risk.