Forum Archive Index - April 2000

["Warner Lamb" <cloud9@i4free.co.nz>]

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