Ann: 1HFY23 Results Presentation, page-2

Wow I would still be concerned if i was shareholders...

- 71% staff satisfaction... 3 out of 10 employees are not happy... that says alot about a company, this is continually dropping.
- Net profit down YOY for H1.
- Net sales dramatically down...
- Net bank debt is increasing and costing more... will start hurting net profit
- Increasing funding/finance facility... shows they are bracing for inflation and more costs, which will hurt the bottomline in future years
- Selling shopping centres to increase profit/working capital... sounds desperate
- Now new commentary "Property is a long term generator of positive returns for investors"... this just shows brace for short term pain. Property is a long term play so dont expect anything great out of CWP over the next 2-3 years. Property is good long term of individuals not for companies with high debt and low revenue... profits are evaporating
- we are also entering higher interest rates and the amount of growth is going to slow and fall behind inflation, therefore growing at a negative rate in short term.
- Only 257 pre sales for WA... even though WA is half of the companies portfolio of supply. A very slow burn for over half the portfolio
- Project delays in QLD... missed out on the strong sale prices as they couldnt get organised
- Wooloowin site doesnt include earnings past FY24.... thats a lengthy delay while holding costs and construction costs are increasing further... over 7 years since purchased and still cant develop the site!!!!
- Looks like they havent updated their Appendix 1 : Project Pipeline... Wooloowin is not settling until FY25+ yet it says FY23... thats embarrasing
- SA has 2 years of sales left until stock is dried up in SA...

Weak presentation and statstics in my opinion. This will be below $4 soon enough. Analysing the figures and seeing how management are directing their wording to 'property is a long term play' and lackluster market conditions... its going to be a grind for them.

Newbie