ALZ australand property group
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Ocker, that is absolute CRAP (to capitalise for...

  1. SuperProfits
    1,502 Posts.
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    28/07/06
    13:29
    Post #: 1705158
    Ocker, that is absolute CRAP (to capitalise for effect).

    Revaluations came into EPS with the introduction of IFRS last year.

    And yes, I could read that their EPS was 10.3c. Point is that distributions cannot be paid from revaluations, only from cashflow! Their cash EPS was 5.7c. Big difference from 8c DPS! So to maintain their distribution they must borrow (not sustainable + higher risk and interest costs) or sell assets (again not sustainable).
    ALZ Price at posting: 0.0¢ Sentiment: ST Sell Disclosure: Held
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    lightbulb Created with Sketch.  Great analysis
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