Forum Archive Index - March 2003

["mvanv" <mvanv@xtra.co.nz>]

I agree with snoopy on this one

The war, smoking ban and deadly flue are just side shows

 

What concerns me about SKC is this;

Last year thier div. payment far exceded the net profit

which was then followed by a special div. of 20c/share

 

They have a share buyback planned for this year

 

They have an extensive employee share option program which is an

unacounted cost for the company.

 

They have a casino in Queentown which runs at a loss. Managment

have conceded that it will probably not ever be profitable while there are two

casinoes in that town. Why don't they get out of Queentown?

 

All this going on while they are up to thier eyeballs in debt

SKC's NTA is 12c/share ,thats right 12 cents/share

Including intangibles asset backing is around $1.15/share

 

Without the war,smoking ban and flue,SKC still looks dodgy to me.

 

disc. No skc

 

 

Mick