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82.0¢ elanor investors group

Ann: Settlement of John Cootes Furniture Acquisitions, page-8

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peterdoobes

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06/11/14

12:58

Post #: 14245274
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Originally posted by imran khan ↑

CTN, in their presentation today, have the following profile on ENN:

ENN is an investment and funds management business focusing on assets and operating businesses that deliver sustainable cash flows with potential for development or restructure.
• Quality management team with an impressive track record established pre-IPO (under the pre-IPO privately owned Moss Capital entity, which was co-founded by Bill Moss and Glenn Willis in early 2009).
• Potential for a substantial increase in funds under management as management focus on their key objective to roll out syndicates and wholesale funds.
• Valuation upside to assets held on balance sheet – given conservative book values, management’s ability to enhance operating performance of assets, and likely execution of developments.
• Strong balance sheet, with a 27% gearing level (debt / equity).
• ENN is cheap, trading on a 9.6x FY15 PE and an 8.7% dividend yield.
• Conclusion: ENN has quality management with an impressive track record, upside potential at the asset level, upside potential in funds under management, a solid balance sheet, and is cheap.
• Target price of $1.68/s, a 44.0% total expected return.

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Another one of theirs I like is GBT. Not sure where they are getting their numbers from though, FY15 EPS of 29c some 20% higher than consensus. That would make me happy

ENN Price at posting: $1.35 Sentiment: None Disclosure: Held
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0 Great analysis

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Ann: Settlement of John Cootes Furniture Acquisitions, page-8

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