No recent announcements from PPN and no trades for about a fortnight. The few shares for sale are well above the top bid.
I think everyone must be holding out for the half year report which is due in the last few days of February.
The only major event has been the sale of PPN's half share of the Royal Melbourne Hotel lease late last year. If the RMH money has been used to reduce debt, the interest bill should be slightly lower. Profit from Bar20 and rent from the Horne St property should remain about the same or slightly up on previous reports.
The big question is whether PPN will surprise everyone by announcing an interim dividend with the half year report. If they have made a good half year profit and have the cash, an interim dividend would be a welcome start to 2010 for the long suffering PPN shareholders.
PPN Price at posting:
23.0¢ Sentiment: LT Buy Disclosure: Held
