Hi Nursery,I was under the same train of thought...

Hi Nursery,

I was under the same train of thought previously.
However income is not the issue.
CERs income is incredible. We do lose some on the exchange rate when the dollar is high, However, This is insignificant to the possitive effect to gearing / Nta. Our income is not really the problem.

In a previous post i pointed out the fact that in DEC our NTA was 35c and alhough property valuations started to increase and with extra income paying down debts our NTA dropped 2c in the 6months to follow.
This was all due to the aussie dollar dropping 6c
We got those 6c back so our NTA should of been around 37-40c when our aussie dollar his 90us cents. Now we up another 4 c so I would guess and say our NTA is now above 40c with less hedging risk and gearing in a better position.

CER is mending quite well. The share should reflect this soon.