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From: | "Warner Lamb" <cloud9@i4free.co.nz> |
Date: | Wed, 19 Apr 2000 21:48:43 +1200 |
Graham, good evening..about IFT. Recently
bounced off lows of 107c and has showed resilience in recent volitility.It
was helped off those lows by Peter Spencer from McEwens smart money
index with a 200,000 share purchase.Some brokers have valuations over 200c
now.Infratil is in the market to buy back up to 5% of shares on market from
March 29th and as you may know have some high-profile investments eg.
Wellington Int Airport (66%) This asset is to be revalued up this year and
shareholders equity will rise.This investment apparently ensures good
cash flows are maintained. Some growth was held back from Ansett
pilot dispute.Profits look good and growing ....To March 99
26.6m..... To March 2000 predicted 34m (+27-28%).Other investments
are Trustpower 26% Ports of Tuaranga 25% Natural Gas 6.3% and major
shareholder is Foreign and Colonial.Earnings Yield 12% and a low PE ratio of 8.3
make this a value buy.I think there are excellent prospects for price
growth med term and a good dividend return.
WPTCA below $7.20 issue now .. shows a very
good dividend (until install due anyway)and company starting large buyback again
(todays shatchat news)seems cheap but I don't know much more.
MHI Alittle thinly traded at present for my liking
eg. Today- One parcel of 1000 all day.
GPG>> Its got to go one day and its a great
opportunity at current price.Very cheap on fundamentals and one of the best buys
I think at present.PFI I dont know - anyone else? Hope some of this
helps
Warner
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