I notice Premier Investments (PMV) is doing well again. Retail spending on clothing, etc is well up. The headlines for rent reductions have faded away. The property devaluation occurred at the depths of pessimism. Property prices nationally heading back up.
Must be some risk to the upside that they reverse some (if not all) of the property devaluation. Lower gearing, more cashflow to owners. Combine that with higher free cash flow from less capital expenditure and more inflow from Kmart.
CDP Price at posting:
$4.35 Sentiment: None Disclosure: Held
