PNC

4.76%

60.0¢ pioneer credit limited

There's plenty of retained earnings to pay dividends from.

First 52 Last

Share
Profile

Follow
bcc_100

120 Posts.

11

27/02/19

14:00

Post #: 37587290
Share

Originally posted by Madtrader: ↑

This statement is incorrect.

The reason for the comment is due to the adoption of a new standard. The company has obviously not provided sufficient evidence to support the position under those new rules.

I agree on the comments re impact. Albeit timing is important as otherwise you never get a true view of performance. I've argued many times on here and CLH forum that the two treatments aren't actually that different anyway when you get into the nuts and bolts of it. concerns related to that issue have always been and are IMO overplayed. The thing to pay close attention to is the cash flows and whether they stack up against the return metrics implied by the share price.

DYOR

Expand

100% True. The two methods are just different ways of skinning the same cat.

Originally posted by Tarvold: ↑

With regard to auditors comment.
Clearly there wasn't an issue with the prior audits carried out by the same auditors so presumably the partner in charge has changed.
Another partner or audit firm could just as easily have made no comment & carried on as before so the distinction is one of a personal view of one individual rather than a failure to comply.
Mngt have stated that even if they had to change valuation they would still disclose the fair value result & use that as their key metric, similar to banks using cash earnings instead of reported.
The company has consistently used the same method for decade+ & generated more cash than they have invested in PCP so there is no issue with regard to the ultimate profitability only the timing of those profits.

So what is the actual consquence to shareholders of a change of methodology other than sp fluctuations?
IMO the biggest potential issue is that you can't pay out dividends without statutory earnings to pay them from, so a potential significant profit write back could restrict future dividend payments at least in the short term.

The issue of operational performance is relatively easily solved based on the prior company performance in the short term however the audit issue could have
a much longer impact.

Expand

There's plenty of retained earnings to pay dividends from.

PNC Price at posting: $2.44 Sentiment: Buy Disclosure: Held
Upvote

0 Great analysis

Reply

Top Stories

NAE

NAB dips -1.8% as ASIC take bank to court for ignoring hardship applications

HotCopper Highlights: Your most watched stocks for Week 46, 2024

BTH

Bigtincan's Board backs Investcorp offer: Why a NASDAQ listing could be game-changing

Week 46 Wrap: Copper hits 2mth low as Trump threatens net zero pace; US rally fades; HotCopper’s picks

GRL

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

There are more pages in this discussion • 21 more messages in this thread...

First 52 Last

Add PNC (ASX) to my watchlist

(20min delay)
Last 60.0¢		Change -0.030(4.76%)		Mkt cap ! $73.69M

Open	High	Low	Value	Volume
61.0¢	61.0¢	60.0¢	$18.15K	30K

Buyers (Bids)

No.	Vol.	Price($)
2	29931	59.0¢

Sellers (Offers)

Price($)	Vol.	No.
62.0¢	17187	2

View Market Depth

No.	Vol.	Price($)
1	62500	0.480
1	36200	0.470
1	1816	0.465
1	20000	0.460
1	10000	0.455

Price($)	Vol.	No.
0.490	47333	1
0.500	3000	1
0.505	432	1
0.510	85615	2
0.520	904	1

Last trade - 10.14am 18/11/2024 (20 minute delay)

PNC (ASX) Chart

There's plenty of retained earnings to pay dividends from.

NAB dips -1.8% as ASIC take bank to court for ignoring hardship applications

HotCopper Highlights: Your most watched stocks for Week 46, 2024

Bigtincan's Board backs Investcorp offer: Why a NASDAQ listing could be game-changing

Week 46 Wrap: Copper hits 2mth low as Trump threatens net zero pace; US rally fades; HotCopper’s picks

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

There's plenty of retained earnings to pay dividends from.

Top Stories

NAB dips -1.8% as ASIC take bank to court for ignoring hardship applications

HotCopper Highlights: Your most watched stocks for Week 46, 2024

Bigtincan's Board backs Investcorp offer: Why a NASDAQ listing could be game-changing

Week 46 Wrap: Copper hits 2mth low as Trump threatens net zero pace; US rally fades; HotCopper’s picks

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News