is there any upside left in gmg?, page-21

I read a lot of gloom and doom associated with GMG, let?s see if we can turn this sentiment around.

The Goodman Group (GMG) is not just any AREIT, it happens to be one of Australia?s largest AREITs. GMG has three inter-linked businesses, each based on industrial, warehouse and business park property, being ownership, development and management, with assets in Australia, New Zealand, Europe and Asia.

Over the last few months GMG has started the second, HUF 2.5 billion phase of construction at the ?ll? Airport Logistics Centre on the outskirts of Budapest. Goodman Group is building a 16,000-square-meter warehouse and 1,000 square meters of office space for Swedish cosmetics company Oriflame. The phase will be completed in the autumn. Goodman Group in December also announces the development of a massive warehouse and distribution centre In Hong Kong.

Folks, as the global economies recover, growth will be driven by property development and property acquisitions leading to the launch of new funds management products, supplemented by occasional corporate acquisitions to further bolster scale

There is no question that 2009 was a year that produced a lot of heart ache, not just for GMG but global REITS in general; unfortunately the Goodman Group reported net loss of $465.9m for the half-year ended 31 December 2008. Revenue from ordinary activities were $33.7m, down 94.5% from the same period last year. Basic and Diluted EPS were (23.9) cents compared to 16.7 cents last year. Net operating cash flow was $155.1m compared to $164.6m last year.

GMG shall be reporting their earnings mid next week (24th Feb), I hope that many a folks shall be pleasantly surprised and also challenge the thinking of the sentiment that GMG shall be flat lining though out majority of 2010 will be displaced.