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Business Description: ALE Property Group (LEP) is a property investment and property fund management company which owns a property portfolio of 87 pubs across five mainland states of Australia. LEP comprises of Australian Leisure and Entertainment Property Trust and its controlled entities including ALE Direct Property Trust, ALE Finance Company PTY Limited and Australian Leisure and Entertainment Property Management Limited as the responsible entity of the trust.
Strategy Analysis: ALE is a passive owner and operator of pub properties. Each property is leased to Australian Leisure and Hospitality, a Woolworths subsidiary, for an initial term of 25 years to 2028 with four 10-year options to renew. Annual rent reviews are linked to CPI. ALE is seeking to acquire additional high quality properties that complement its existing portfolio. 2010 was a period of consolidation with 12 properties sold and debt reduced to more conservative levels.
ALE Property Group reported a net loss of $3.73m for the half-year ended 31 December 2012. Revenues from ordinary activities were $26.39m, up 2.9% from last year. Basic and Diluted EPS was (2.2) cents compared to 0.23 cents last year. Net operating cash flow was $18.14m compared to $10.68m last year. The interim dividend declared was 8 cents, compared with 8 cents last year.
Carl Richards, director of investor education at the BAM Alliance 17/10/2014 |
â€śAs odd as it may sound, the sooner you start treating your investments like you treat life, the happier youâ€™ll be with the outcome.â€ť
William H. Gross, Janus Capital Group 16/10/2014 |
â€śFinancial markets are artificially priced. In the bond market, there is nothing normal about a three year German Bund yielding â€śminusâ€ť 10 basis points.â€ť
CMC Markets 8/10/2014 |
Share market indices around the globe are breaking down. While analysts cast around for reasons, itâ€™s clear that a time factor is in play. Simply put, many investors â€śfeelâ€ť a correction is overdue. How low could it go?
The Age 19/12/2013 |
Ten Network's programming ambitions will be funded by a $200 million loan guaranteed by three of its billionaire owners, as the free-to-air broadcaster declared digital was the future and pointed to early signs that its switch to an older market demographic was working.
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