AVJ 1.64% 30.0¢ avjennings limited

Very interesting Annual Report today. The things which got my...

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    Very interesting Annual Report today. The things which got my attention:
    1. Profit of $18 compared to a loss last year of $15m
    2. WIP at 30 June 2014 at 1264 lots , which is up 77% from a year earlier
    3. 3 recent strategic acquisitions
    4. Predicted growth in 2015 of around 37% in terns of sales of units/lots

    ...but what really got my attention was the stated gearing at 17% of gross assets...do the sums folks...this is very under-valued on a NTA basis.

    I predict $1.20 in not too distant future. DYOR
 
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