surfers paradise, page-7

Found some interesting numbers in the CIY FY to June 30 2008 accounts (p61):

2008 CP1 Ltd
Current assets: $ 89,852,105
Non-current assets: $241,895,073
Total assets: $331,747,178
Current liabilities: $205,729,410
Non-current liabilities: $ 83,096,356
Total liabilities: $288,825,766
Revenues: $ 43,791,025
Expenses: ($140,175,144)
Profit/ (loss): ($ 96,384,119)
Share of Profit/ (loss):($ 27,516,585)

Looks like there are some CP1 FY2008 figures in the pipeline, they just haven't been released yet. They're not that pretty either. The jump in liabilities is a concern, although that figure will drop back when the sale of the GCI hotel and adjoining land is factored in. The drop in nta is also a concern. My guestimate is:

Assets $331,747,178 - Liabilities $288,825,766
= $42,921,412 divided by 231million shares
= nta of ~18.6cents per share
A rather large drop from 57cents at the half year, but again, these numbers don't take the GCI sale into account.

And to think the Grollos paid 80+ cent a share for their 18% stake!!! Hope they've got a plan.....