Great, thanks for that. Appreciated.
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Great, thanks for that. Appreciated.
Quite right mate. The real money is not in the development margin for the issue of the first license to occupy, its in the reissue of the second, third, fourth and so on new license's to occupy down the track. In many ways the first occupants get the best deal with brand spanking new communal living area's to enjoy.
Tax position on refurbishments cost?
Thank you Mr B. Just double checking.
It strikes me that it would be a good idea for people to [re]read the full year financial statements, very definitely including the notes (especially 3), and get a grip on investment property versus property, plant & equipement and the different tax treatments thereof.
You should also spot when a road is included in the development margin and when it is not and other exciting things to improve your understanding.
Careful analysis of the Presentation materials is also encouraged but UNDER NO CIRCUMSTANCES WHATSOEVER should you attempt to make sense of Note 5 of the financials. For that path leads to madness:
https://img.huffingtonpost.com/asset..._630_noupscale
Well , it seems the 3rd analyst upgraded his recommendation over the weekend. We now have had all 3 recently upgrade their ratings to "outperform, buy and buy". It's worth a couple of minutes checking the scale on "4 traders " website under consensus. It really is a sight to behold for us long sufferers here.
The little arrow has now shifted from the middle "hold " area to the extreme end of the " buy" indicator. All in 2 weeks.
Good luck with the SP pull back your team were hoping for now Waltzing man...that's a heck of a current to be rowing against after this.
Back to the real stuff (FA).... If anybody's has access to the 3rd analysts workings I would really appreciate a pointer to where I can find it. Cheers.
https://www.marketscreener.com/quote...268/consensus/
Analysts are starting to wake up to the growth ahead. As mentioned last week, I predict major upgrades from them all after the interim results in late January 2021.
I do not think they are fully comprehending that the valuers wrote down unsold units at balance date especially harshly due to their perception of values at that date.
There is 10 cps in earnings in just selling down stock at balance date at prices assumed by OCA, (not at the values that may be prevailing in the market at present), which is up from 8 cps as at the interim result last year, an extra $2 cps or $12m in extra earnings.
I remain comfortable with my estimate of earnings for the 10 months ended 31 March 2020 of 10 cps, (annualized 12 cps), well north of even the most optimistic analyst. I see the split being approx $35m underlying profit in the first half and $25m in the second period.
I think the analysts are spread pretty thin and don't have the time to do the really detailed analysis like some professional investors do.