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clock Created with Sketch. 11/02/19
11:31
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Originally posted by PortfolioPlus:
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Daicos, I am both an optimist and a pessimist of VLW - but intend holding because of the product offering and its durability in the long run. Did you see Satterley's recent comment of a 25% default on Vic land? That, plus the consequent follow on of lower block prices for the resale and higher costs of sale suggest there is a lot of carnage to come. Whilst we have a NPAT of $17m baked in for 1H19 I cannot see the year with anymore than $22m at 17.5c eps. But the value is there. I reckon NTA at FY19 will be $2.48 and take a massive 20% haircut off that for falling resi prices, then the coy has to be worth at least $1.98
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