Probably good - makes live harder for any foreign competition;
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They can build them for that but it causes other problems. Was actually discussing this point with some friends this evening and there are VAST amounts of land south of the Bombay hills that the Government could simply legislate must be rezoned residential and they could build a sea of prefabricated cheap housing. The problem then becomes that the Southern motorway becomes so congested people can't get to work unless they are prepared to commute for 1.5 - 2 hours each way. Good for MPG though :)
And Winnie The Fraudster wants to move the bottom half (port) of Auckland to Whangarei without any consideration of how to get the goods back to Auckland and further south !! Scary
Back on topic
MPG share price up 6 cents the last 2 days
Expect more today to close off the week with positive momentum
Fundamentals ain't changed since IPO = bright future
Chert wise - heading back to 128 being Hoop's support / resistance line ......and then to fill the gap back to 140 ......and then anything could happen because it'll be about half year announcement time
C'mon possums - still cheap.
Fatboy - hope you haven't missed out, never be sub $1
Yo W I did miss out on this buddy but it would have been a purchase from sales of other assets, which have appreciated more :)
And yep this is cheap, and seeing ST heavyweights investing at this level you got to think the timing is good to have skin in the game.
I bought in at 1.25 earlier, bummer, a 2 day wait would have done wonders. I'll get my affairs in order over the weekend then get some more on Monday.
Lets sell down people the naysayers are right :)
Nice to see more insider buying.
I had a chat with my inner possum this morning it went like this
Beagle - Winner thinks these are great value and what they said the other day wasn't that bad, still confident of profit growth this year
Possum - Yeah Yeah we've heard that sort of bold public relations talk before from many companies, it was basically a profit warning and Winner just talking his own book the mischevious hound he is
Beagle - Don't be barking mad, they just said things are flat
Possum - Downgrades come in three's, they're just softening shareholders up for an official downgrade in November, and there might be another one after that
Beagle - But look at all the insiders buying
Possum - You sure its with their own money and not some non recourse interest free loan from the company ?
Beagle - Can't say for sure but unlikely as they have to disclose financial assistance
Possum - Its a building company in the peak of it cycle and realistically the best you can hope for is to match last year's normalized profit of $21.3m that's a pretty ordinary company
Beagle - Yeah you're probably right and by the way I hate the term normalized profit but on 185m shares that's just 11.5 cps and there could be downside risk to that
Possum - You know you've always used a PE of 10 for cyclical companies so its only worth $1.15
Beagle - But they say they can grow over the years and they even say they're a "growth company"
Possum - Let them prove it then.
Beagle - Okay you win, its only worth $1.15 until they can prove they can grow EPS. I have mixed feelings about you Possum but you're definitely saving me a lot of brokerage.
Possum - All good, lets have another hug then. :)
A beagle and a possum, now that's good multiple personality disorder. Thinking hard of dipping my flabby toe in again.
In NBR today..."Market sees Metro's Glass as half empty."