DCG is currently around $1/share or $150m market cap and has been trading at a multiple of about 4 which is low but not unusual for the sector at this stage.
It has cash of say $50m or about 30 cents a share.
At 69% occupancy last year, the village made NPAT of $15m. They are saying occupancy is very low now, let's say 25%, or about one third of FY15. This would suggest $5m however the margins will reduce as a percentage of the lower occupancy, as the percentage of fixed costs rises. So let's say it makes $3m NPAT this year.
Carry value of the village is meaningless. They admit they can't sell it and cancelled the sale process.
As for construction, they forecast $300m to $350m at lower margins than last year (13%). Let's say $325m @ 10% or $32.5m.
Their overheads last year were $45m. They're targeting a $15m to $25m reduction "by FY17". Let's say they've already reduced overheads by $15m, therefore overheads are $30m.
Construction therefore makes NPAT of $2.5m x 70% = $1.75m.
FY16 NPAT looks like $4.75m. At a multiple of 4 that's around $20m or 15 cents/share. Add in the cash and you're at 35 cents a share.
I think 82 cents is being generous.
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Last
29.3¢ |
Change
0.000(0.00%) |
Mkt cap ! $45.50M |
Open | High | Low | Value | Volume |
29.5¢ | 29.5¢ | 29.3¢ | $30.49K | 104K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
20 | 3357624 | 29.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
29.5¢ | 548567 | 7 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
20 | 3357624 | 0.290 |
1 | 11000 | 0.260 |
4 | 20006 | 0.150 |
1 | 10000 | 0.135 |
1 | 30000 | 0.125 |
Price($) | Vol. | No. |
---|---|---|
0.295 | 548567 | 7 |
0.300 | 2004554 | 8 |
0.305 | 63287 | 4 |
0.310 | 10000 | 1 |
0.325 | 25000 | 1 |
Last trade - 14.36pm 17/07/2024 (20 minute delay) ? |
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