watso found the following bit interestingCentro had about $26.6...

watso found the following bit interesting


Centro had about $26.6 billion of funds under management last June. In 2006-07, Centro Properties reported a net profit of $469.72.

just for the heck of it, double that to get a full year results, and that gives earnings of a miserable 3.5% on gross assets.

if these assets are highly leveraged, then slight increases in interest rates, will have a big effect on the bottom line - just for the heck of it - . of course, this explains why management did not refinace when they could have, as they were taking a punt, that they could get lower interest rates, in the fullness of time

does not look good