"Well not a bad crystal ball you were looking through by the looks of todays sale of 10% of LLoyds ."
Not really: I just offered up a shotgun of things that could happen in regards to Lloyds.
But all I knew was that something had to happen, because the status quo - of Lloyds causing being such a big cancer on group earnings - was unsustainable.
In effect, JYC is receiving cash along with improved profits.
It's not often that those sorts of elements go hand-in-hand.
"Do you by chance know what JYC paid for LLoyds and Maquarie ? "
Not sure.
But from memory, the carrying value of Lloyds in the JYC accounts is around $8.5m (but that's on a fully consolidated basis, JYC's 56% equiry share of that would be ~$5m).
So, based on the $1.45m consideration for 10% on Lloyds, that values it at $14.5m, which is a pretty decent premium to the current carrying value.
Meaning that, even of the remaining 46% of Lloyds gets sold at anything close to the value implied by the related party deal for 10% of the auction business, JYC will book a profit on the sale (on which it will have to pay tax, obviously), but even after paying the tax it will leave the company virtually debt-free.
And the profit uplift will leave the company valued at around 11x to 12x P/E, even after this morning's share price response to the announcement.
.
- Forums
- ASX - By Stock
- Ann: Half Year Accounts December 2019
"Well not a bad crystal ball you were looking through by the...
-
- There are more pages in this discussion • 1 more message in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add JYC (ASX) to my watchlist
(20min delay)
|
|||||
Last
$4.09 |
Change
0.070(1.74%) |
Mkt cap ! $120.6M |
Open | High | Low | Value | Volume |
$4.00 | $4.10 | $4.00 | $202.5K | 50.59K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 9 | $4.03 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$4.15 | 10000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 48747 | 4.000 |
1 | 5000 | 3.960 |
1 | 1713 | 3.940 |
1 | 2540 | 3.920 |
2 | 7600 | 3.900 |
Price($) | Vol. | No. |
---|---|---|
4.150 | 10000 | 1 |
4.190 | 1271 | 1 |
4.210 | 4231 | 1 |
4.300 | 2500 | 1 |
4.930 | 979 | 1 |
Last trade - 16.10pm 27/09/2024 (20 minute delay) ? |
Featured News
JYC (ASX) Chart |