In its half year report released in February FKP had EPS of 4.7 cents (FY p/E about 7.4 based on current price around 70 cents); NTA $1.24 and gearing of 23%.
Has fallen nearly 15 cents since then, and about 3-4 cents over past week. I'm surprised as some other real estate companies (DXS and MGR) which I follow after falling badly until about a month ago have since recovered strongly.
Queensland floods may have delayed some developments in that state, but not undermined the underlying strong fundamentals.
Even if earnings were to be adversely affected, will still be trading on a low P/E and will than benfit next year. Even if there is a significant revaluation downwards of assets will still be trading well below NTA. Gearing looks OK. Very few posts on this company - maybe just overlooked, and affected by short term financial needs of few large investors (but I'm just speculating)
Any thoughts
FKP Price at posting:
54.3¢ Sentiment: Hold Disclosure: Held
