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fridays analysis

  1. 2,142 Posts.
    Look im no accountant, but wish i had the finesse to scrutinise profit and loss statements, but after taking some notes from the webcast not including the Q&A (wife thougnht i was spending too much time on the net to listen to the 51 min but will do tomorrrow)these are the points i thought were interesting to note.

    Ranging in order from what i heard from Glenns opening.

    * Divies once recapitilations (RECAP) is secure - Does he mean finance secure or the prospect of the sale of the funds or capital injection?

    * CAWF / CAF WILL BE SOLD due to RECAP process - didnt state exactly what percentange would be sold!!

    * Dist Income up 14.2% to 185.9m thats a dist income of 22.0 cents per share up from 19.0 cents last half. - Hey for me an extra 3cents per share amounts to alot at divie time

    *Not like everyone already knows but loss of 1.112Bill mainly due to write downs.

    *Once again Divies were mentioned once RECAP has happened - now assuming this process can be taken care of in the imediate future before the 30 April Deadline in Aus for finance will they look to reinstate DIVIES next half?

    *No Divie for CER - Which we already knew

    *NTA/security down to $1.31, but this is still better than current SP

    *DEBT Due for Centro/CER and all funds in total -
    DUE Apr 30 - $6.6347Bill
    DUE 1 May - 31 Dec $1.4689Bill
    Due 1 Jan 09 onwards $9.4571Bill

    Which results in $8.16Bill due in 2008

    *Conclusion -
    - Managed Property portolifio performance remains STRONG
    - Undelying operating business remains STRONG
    - Debt restructuring remains PRORITY

    Now my big conclusion from this is not oh S#%T we are doomed, but more so a question for anyone who may like to try to answer, for i find that the answer to strong growth will be in the answer to my question.

    "In Glenns conlusion (above) he mentions the last two points as seperate, and it was brought to our attention TWICE that DIVIES will start again once RECAP plan is secure. So allowing for a equity injection or sale of the Two wholseale funds will that be enought to reinstate divies? Even without Debt resturcture?"

    Once again im no accountant or financial advisor, just a regular guy trying to sort Centro out.
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