I think this is a pretty good strategy to divest of the properties and pay down debt.
PTB is, after all, a very strong international niche airline services and maintenance company, not a REIT.
We will book a good capital gain and I'd suggest the same exists for the Brisbane property...but they are one-offs.
This is the part that excited me the most - because it reeks of efficiencies and improved margins:
'The business will relocate to new leased premises that are rightsized for future operations.This will allow operations to be streamlined to focus on the product lines that have produced the consistent and growing returns for this business in recent years.'
Yep, PTB is a top investment going forward.
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Ann: Sale of Buildings and Revise Profit Guidance, page-7
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