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From: | Robin Benson <rob@hammerheadmedia.co.uk> |
Date: | Sun, 23 May 2004 07:37:37 +0100 |
Hi Snoopy > After what happened last year, I think Marilyn is more the ports expert > than I am! Very disappointing that LPC fell out of the elite 'focus > investment group' set of companies. The union problems, two years > in a row now, and lack of provision for replacement of basic > infrastructure came as a shock. I think that long term around 5c per > share of value has been removed from this share by all the troubles. That's some crystal ball you have! I think a big question-mark overshadowing LPC's future concerns the actions of that union. I wonder how many employees own shares in the company -- now *that* would be interesting information. > However, in defence of LPC the yield is still good at today's prices > (just > above $1.60). ROE remains good (27% last year, adjusted for one > offs) and there isn't any other port that serves the largest city in > the > South Island. Contrast that with Auckland where POT seems hellbent > on getting into the territory of POA. Indeed. SPN don't look close enough to LPC to be much of a threat. What about happenings further up the coast? (I have not been following that issue recently ... maybe it's died a death?) > If she's listening I'll leave Marilyn to tell you if POA is worth > getting into > at this late stage. Hope to hear something there! > For myself, I'm sticking with LPC. In fact they're the only shares > I've > bought this year. With a share like LPC though, they must be bought > at the right price for you to get a decent return out of them. Thanks Snoops -- Woody would be proud of you! Robin ---------------------------------------------------------------------------- To remove yourself from this list, please use the form at http://www.sharechat.co.nz/chat/forum/
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