No Scott is only achieving what Maverick expected of him...................lol.
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Excellent result, congrats to holders. Well done Mav, hope you are right about OCA's forecast.
If we see this break out of its downtrend...
Well done Maverick! Kinda looks like the market was in agreement with your prediction too, not exactly racing away here...
SUM finally having its day today ...instead of yesterday ....Shud recapture $ 12 soon ...
I was hoping $11 so more DRP in next 2 weeks 🤪
From the SUM presentation -
Underlying profit has seen an annual compounded increase of 33% since listing on the NZX in 2011
33% pa is pretty good
Scott says ……this was the company’s second highest quarter on record and highest ever Q1
That’s pretty good new year started well
http://nzx-prod-s7fsd7f98s.s3-websit...369/368486.pdf
Record Q1 but only 4 more sales than last year
But heaps more new sales and less resales ……so profits should be up nice v last year
Yes , a very solid result today Winner in what was supposed to be unfriendly real estate circumstances. The takeaway from this "steady as she goes" update for me is that it was all achieved amongst a difficult backdrop.
We are told daily about reversing property prices and steeply dropping auction clearance rates. Also the NZ outbreak of omicron/ home isolations but none of these have had any material impact on this result. SUM is simply a juggernaut.
We all can clearly see the market has rerated all RV share prices down by roughly 30% from mid last year while the evidence (ARV last week now SUM today ) says everything is "hunky dory.. ..what slow down???".
The market is either looking for further ahead trouble that has not materialized in any form yet ...or... has just overreacted with its fear.