HaHa winner, keep talking positive enough and you might scare that monster elephant back into the bush, I say come you beautiful creature.
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anyone got their head around this change in revenue recognition. I do find the accounting for rest home operators quite complex generally - this is no exception - but if I understand correctly, the change in revenue recognition means OCA's FY18 results get a double benefit relative to FY17 (and FY19). Ie, FY18 picks up the revenue deferred from FY17 (as FY17 was not restated) as well as any new resales captured by the revenue recognition policy in FY18. In FY19, there will just be any gains occurring in that year. SO an artificial boost to fy18 revenues and profits (by circa $2-3m; which is ultimately value neutral - just makes one year (FY18) look better). the Annual Report says the new policy is better - it may well be - but company could perhaps have explained this more fully.
PS. It looks like the sought of change you would make to present the accounts in best light for the majority shareholder to sell and maximise their sales price, IMHO.! GLAH
FNZC says OUTPERFORM with a 12 month $1.22 target
http://www.sharechat.co.nz/article/d...-price-12.html
So on their methodology today’s price a bit ahead of itself
Stupid eh ...they just don’t get it do they
I must be next in the buy queue at 1.11... patience is never my strong point
if theres a placement coming insto.s will sell now and buy back cheaper. wonder if first nz capital is pitching for the work.
Interesting isn't it the way different folk work. I had an order in at 109 and have reduced it to 105 to double my stake. Just in case the overhang comes into play. So...basically happy with what I have....but if a bargain comes along..... will have some.
Good luck to all.