Very interesting Annual Report today. The things which got my attention:
1. Profit of $18 compared to a loss last year of $15m
2. WIP at 30 June 2014 at 1264 lots , which is up 77% from a year earlier
3. 3 recent strategic acquisitions
4. Predicted growth in 2015 of around 37% in terns of sales of units/lots
...but what really got my attention was the stated gearing at 17% of gross assets...do the sums folks...this is very under-valued on a NTA basis.
I predict $1.20 in not too distant future. DYOR
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