helpful folks at hc
This courtesy of the luverly (Arthur..he is not party to my ramping, just very helpful)
52-Week Range: 107-235 ISIN: AU000000FKP9 Current Bid: 229 Current Ask: 230 Total Class Issue: 114,562,884 CHESS Eligibility: CHESS eligible Net Tangible Assets ($/share): $1.45 Code: FKP Div. Payable Date: 17/Apr/2003 Open: 234 Ex. Div. Date: 04/Apr/2003 Day High: 234 Franked Pct: 100% Day Low: 228 Status: Normal Trades: 73 Earnings/Share: 18.55 Volume: 232,750 Div. Rate/Share: 10.5 Value: $537,061 P/E: 12.40 Market Cap (Undiluted): 263,494,633 Industry Sector: - Previous Close: 235
******************************************************************************************************************************************************* FKP LTD Stock to Watch: Sydney - Friday - June 27: (RWE) ********************************
PROPERTY, RETIREMENT VILLAGES AND A TRUST AN AMBITIOUS COMBINATION Overview: -------- Predicting a 50 percent growth in net profit for the financial year ending next week should please FKP shareholders no end. It's not often these days that a company upgrades its results; it's generally the other way round. In fact its previous earnings growth forecast was in excess of 30 per cent. However, you now have to be careful about property developers as the industry could be at its peak. FKP though, has a double or even a triple whammy depending on your point of view. Apart from its big property development division, the company seems to have a winner with retirement villages if you are to believe the ageing population trend. FKP is reportedly the largest owner/operator of retirement villages in Australia operating along the east coast, Tasmania and South Australia. Yesterday chief executive officer, Peter Brown said the profit upgrade was driven by strong performances across all divisions along with the quality of the company's projects offered across the commercial, residential, land subdivision and retirement sectors. He warned though, the rise in the forecast was equally attributable to stronger than expected performance and to an accounting policy change as prescribed by the Australian Accounting Standards Board. However, FKP's board says the accounting change is contrary to their conservative approach. The first half year saw impressive earnings growth for the period reflected by a net profit of $11.7 million - believe or not - showing a 50 per cent increase on the same period last year. The improvement was due to the quality of the projects across the commercial, residential, retail, land sub-division and retirement sectors coupled with the low interest rate environment. Chairman John E.Jamieson says the current half is producing strong demand and price growth for both existing projects and pre-sales projects due to be completed this year and 2004.
------------------------------- Share price: $2.30 High/low for year: $2.35/$107 Dividend: 10.5c Div.yield 4.47 per cent --------------------------------
