$3.00 12 month high

Considering this share was once arround the $7.00 mark. long term i consider the $3.00 mark a good chance, perhaps not in the 2-3 year period but perhaps in 5 years...

good signs today going up each day :)

Previous Close 52 Week High 52 Week Low
$0.60 $3.00 $0.12


Investment Rating
GMG is a stapled security comprising a unit in the trust and a share in the management company. GMG has three inter-linked businesses - ownership, development and management. Each is based on industrial, warehouse and business park property, with assets in Australia, New Zealand, Europe and Asia. GMG is an active recycler of capital, developing buildings for its ownership or management, generating fees at each stage of the recycling process. Earnings are well-grounded in relatively safe, annuity-style, steady growth revenue from investment property and funds management. GMG should only be considered by income investors willing to bear high capital risk in the medium-term.

Event

* Full year headline or statutory loss after tax under AIFRS of $1.10bn, reflecting an operating profit of $0.40bn offset by write downs of $1.50bn.

* Operating profit broadly in line with expectation.

* NTA 85cpu at June 2009 and 9.65cpu distribution in line with guidance.


Impact

* Operating outlook more positive than expected.

* Gearing 47.9% at June 2009 but balance sheet strengthened by subsequent capital raising and cornerstone investors.

* Valuation unlikely to change significantly.