take off you blinkers and get out of your box. Stomach turns as...

take off you blinkers and get out of your box. Stomach turns as I read a couple of these MAP threads.

We found MAP as a fundamental gem at $1.80, picked up more at $2 and more with their placement. it's a cash cow and when you say you sell out of your SMSF's and lose the compounding turbo blast you get from gems like MAP and take a tax hit instead I think to myself..what the hell are micro managers doing with a SMSF???? Do they crunch their onw numbers??? obviousely not. How did Westfield grow their business....MAP is a rent collector too, are the baby boomers really retiring cashed up to travel the world??? is the workd through transport and technology?? why are Airbus and Bowing building all superliners and 777 long haul jets??? I bet they've crunched the numbers :-)

Let the SP fall like a rock, let the rotten apples fulfill their dream of being Jo Average MAP will win more and more airports, pay off debt with ease and any short term hic-up, be it terrorist threat, Bird Flu, OIL or crap writeups with entitled opinion, MAP will continue to trim the fat and re model 2nd rate teminals into straem toll ways. As always...time will be my judge.

MAP has a PE of 5.52, sector average is 15??? you do the maths.... Good luck old dudes :-)
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From aspect financial..

Company Strategy and Prospects
(Last Update: 23 February, 2005)
MAP is a stapled security made up of a unit in Macquarie Airports Trust (MAT-1), a unit in Macquarie Airports Trust (MAT-2), and a share in Macquarie Airports Holdings (Bermuda) Limited (MAHBL). The investment strategy is simple however the financial structure is complicated. MAP aims to provide investor with capital growth and increasing distributions from improved operational efficiencies at existing operations. In addition MAP intends to seize any opportunities to expand its portfolio of airport investments that arise from further privatisation of the market

Macquarie Airports (MAp) reported NPAT of $864.6m for the year ended 31 December 2004. Revenues from ordinary activities were $1,649.63m compared with $482.44m last year primarily driven by revaluations. Diluted EPS was 73.27 cents, compared to 35 cents last year. Cash flows from operating activities increased from $95.9m in the prior year to $171.1m. The final dividend declared was 8 cents unfranked, taking the full year dividend to 12 cents unfranked. The group attributed its increase in revenue and profit to the performance of its investments and the acquisition of a controlling interest in Macquarie Airports Group (MAG) in May 2004, resulting in the consolidation of MAG and its subsidiaries into MAp.


MAP is undervalued on the Aspect model.

(No S#it)