with finbars dividend likely sitting over 8% fully franked and a huge pipeline of work it's hard to see how the price can go much lower? They have just completed the 2 major projects that will ensure another great dividend. Their revenue growth is probably not much over the next year but it is substantially up in the following 2 years. And these following years include major projects like Concerto, Aurelia and Civic Square in South Perth. With an exclusive builder Hanssen that continues to deliver at far lower costs than other builders at twice the speed, Finbar looks like the best value company on the ASX. Even If the property market has a downturn Finbar properties are lower $/SQM than the rest.
Time will tell but 8% FF dividends until these big jobs settle makes the wait for recovery palatable
FRI Price at posting:
$1.22 Sentiment: Buy Disclosure: Held
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