I like the last sentence "Diploma will look to return to a full year dividend in FY15"
HIGHLIGHTS from AGM
Revenue and earnings outlook is positive with:
A stable WA economy with low unemployment and positive net migration into WA
WA has the strongest population growth in the country with population expected to double to 4.2M over next 30 years
Low interest rates driving investment in affordable property market
An underlying shortage of affordable accommodation in WA due to lack of commencement of medium density apartment projects over past three years Diploma is a well recognised brand in the market and:
Has a core group of repeat clients which have secured extensive future pipeline projects over next 24 to 36 months
Has been developing apartments in WA for 15 years and has the competitive advantage of an in house construction division
Is trading in its core market which is on the cusp of following the east coast apartment surge Looking forward:
Diploma will focus on delivery of its two Quest Hotel projects, both now under construction, and recycle capital of $20M+ into the Group
Secure additional development opportunities to build pipeline in FY17 and FY18 in its core market of medium to high density apartments
Diploma will look to return to a full year dividend in FY15
DGX Price at posting:
4.0¢ Sentiment: Buy Disclosure: Held