Despite being 14.5c a share down on my average price (at $1.085 sp) I *like* this business - started in 1961 - which is something of a WA institution.
Since October 7 last year it will have paid me 26.27c a share if I count to next week on September 1 (when the final 3.5c dividend is due.)
And looking, initially, from a ‘naive’ perspective at the results, I like the reassuring ka-ching of the $94.5m in cash and investments that will stashed up there somewhere (?) in the new ‘top drawer’ office suites at QV1 in central Perth, particularly when measured against the fact that the company’s market cap at $1.085 a share is less than $177m .
And the fact it has no borrowings and no debt.
(My granny would have liked that bit!)
And the future looks OK too …
Lots of work coming through in WA as evidenced by the number of other brokers trying to elbow in, yet Euroz Hartleys holds a premier position.
….Unassailable in its’ ivory tower?
https://qv1.com.au/View attachment 5543458But I gotta say that, while I like the view, it’s a bit boring in here….
cheers
(20min delay)