Hi Clare,
Here are my initial numbers (still need some checking)...
Investment Properties 24.0 1 Undeveloped land being sold 139.7 2 Current value of under construction 219.6 3 Property in Dec 2021 report 383.4 4 Still to spend to finish projects 130.0 5 Total Property costs 513.4 6 7 Profit on future sales 143.3 8 2 years of admin -32.0 9 Carried forward capital loss -9.0 10 Tax to pay on future profit 30.7 11 12 Franking credits now 62.6 13 Credits after future tax 93.3 14 15 Flow to shareholders: 16 Sale of undeveloped land 209.2 17 Sale of Homes, retail, investments 480.1 18 Franking credits 93.3 19 Cash 119.7 20 less 21 Spend to complete 130.0 22 Admin 32.0 23 Debt 165.0 24 Other net liabilities 36.3 25 Future Tax 30.7 26 Net ($m) 508.3 27 per share divs $3.03 28 per share credits $0.68
In summary, from June to Dec: 1 They started the period with $499m property, $13m cash, $169m debt. 2 The now have $383m property, $119m cash and $165m debt. 3 4 The overall NTA is down only a few cents despite paying 30c in divs. 5 More of the NTA is now in cash, more certainty around unsold properties. 6 I increased my valuation by 10c on these numbers.
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Hi Clare,Here are my initial numbers (still need some...
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