Fairfax Media network navigation

  • Home
  • Shares
  • Share details

DEVINE LIMITED (DVN)


Welcome to InvestSMART

You are currently viewing our site as a guest, which gives you limited access to our site features. By signing up for a free membership, you will receive our Investment Opportunity newsletters and have access to additional features for finding and comparing managed funds and shares. Registration is fast and simple, so please:

Sign Up Today » it's FREE! Already a member? Login now!


General Information
Company Name: Devine Limited
Stock Code: DVN
Website: www.devine.com.au
GICS Sub-Industry: Diversified Real Estate Activities
Market Cap ($M): 141
Equiv. Shares (M): 159

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
 $ 0.880 $ 0.880 $ 0.880 $ 0.880 $ 0.900 16,077 $ -0.020  -2.222 %

Current Broker Consensus Recommendation more
Recommendation: Hold
Recommendation Date: 5th Feb 2013
12 Month Target Price (average): $0.87
Brokers Surveyed: 1

Company Overview

Business Description:
Devine Limited (DVN) is an Australian residential property developer offering housing products in Queensland, Victoria and South Australia. DVN provides residential property marketing and development and manufactures building supplies for the housing and construction industries. Devine Limited is a subsidiary of Leighton Residential Investments Pty Ltd.

Strategy Analysis:
DVN's business strategy is focused on geographic and product diversification through organic and acquisitive activities. There will also be a continued focus on selling developed land to other builders and introduce new housing designs on its residential estates. Devine reported NPAT down 43.12% to $4.15m for the half-year ended 31 December 2012. Revenue from ordinary activities were $173.05m, down 12.1% from last year. Basic and Diluted EPS were 2.6 cents compared to 4.6 cents last year. Net operating cash flow was $30.11m compared to $1.35m last year. No dividend was declared.

Financial Summary
Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2012  A 21.4 13.5 11.6 5.8 4.0 5.2 100.0
2011  A 19.2 12.1 70.4 8.9 8.0 7.4 100.0
2010  A 8.1 7.1 -61.6 19.2 4.0 2.9 100.0
Source: Aspect actuals / Thomson IBES estimates

Peer Comparison
EPS Growth (%) P/E (%) Dividend Yield (%)
Company Mkt Cap 2010 A 2011 F 2012 F 2010 A 2011 F 2012 F 2010 A 2011 F 2012 F
Devine (DVN) $143 M 0.1157 -- -- 6.6716 -- -- 0.0444 -- --
GPT Group (GPT) $6,986 M 0.6350 -0.2459 0.0381 11.8299 15.6871 15.1109 0.0489 0.0515 0.0533
Mirvac Group (MGR) $6,227 M -0.0702 0.0028 0.1051 15.8582 15.8140 14.3098 0.0494 0.0506 0.0550
Stockland (SGP) $8,326 M -0.0638 -0.2358 0.1071 12.8966 16.8750 15.2419 0.0635 0.0635 0.0635
Westfield (WDC) $26,527 M -0.0223 0.1047 0.0640 20.0631 18.1613 17.0690 0.0409 0.0422 0.0445

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth
DVN -- 6.60 0.44 --
Market 0.83 14.4 1.22 1.88
Sector 1.42 15.6 0.99 2.28

Directors
Name Position Start Date
Mr David Bruce Keir Chief Executive Officer,Executive Director 01 April 2010
Mr Peter James Dransfield Non-Executive Chairman 01 April 2010
Mr Richard (Rick) W Parris Non-Executive Director 21 October 1993
Mr Vyril Anthony Vella Non-Executive Director 26 April 2007
Mr Travis Young Non-Executive Director 23 November 2010
Mr Terrence (Terry) Michael Mackenroth Non-Executive Director 05 September 2005
Mr Graeme Ewen McOrist Non-Executive Director 26 April 2007
Ms Judith Susan Downes Non-Executive Director 01 January 2013

Management
Name Position
Paul V Cochrane Chief Financial Officer
Viv N Grayson Company Secretary
Andrew Brimblecombe General Manager : Queensland
Neil Anderson General Manager : Victoria and South Australia
T Conway Manager : Apartments and Property Development

Substantial Shareholders
Holding Name
79,804,389 (50.28%) Leighton Holdings Limited
10,115,995 (6.37%) Brazil Farming Pty Ltd

Calendar of Events
Date Event
31 January 2014 Report (Interim)
26 September 2013 Report (Annual)
22 August 2013 Report (Prelim)
© 2011 Morningstar, Inc. All rights reserved. The data and content contained herein are not guaranteed to be accurate, complete or timely. Neither Morningstar, nor its affiliates nor their content providers will have any liability for use or distribution of any of this information. To the extent that any of the content above constitutes advice, it is general advice that has been prepared by Morningstar Australasia Pty Ltd ABN: 95 090 665 544, AFSL: 240892 (a subsidiary of Morningstar, Inc.), without reference to your objectives, financial situation or needs. Before acting on any advice, you should consider the appropriateness of the advice and we recommend you obtain financial, legal and taxation advice before making any financial investment decision. If applicable investors should obtain the relevant product disclosure statement and consider it before making any decision to invest. Some material is copyright and published under licence from ASX Operations Pty Limited ACN 004 523 782 ("ASXO"). DISCLOSURE: Employees may have an interest in the securities discussed in this report. Please refer to our Financial Services Guide (FSG) for more information at www.morningstar.com.au/fsg.asp.

Advertisement

Trade Shares Online from $19.95^
Free Guides

The SMH Guide to Optimising Your Portfolio

An educational booklet that will point out what you need to know to use options effectively for additional income and risk management.

More details...

News

Grim reflections: the slow death of an industry

The Age 25/05/2013 | In the mid-1960s, when Australia's trade minister Sir John McEwen was urging Holden and Ford to seek export markets in Asia, the leader of one of Asia's poorest countries decided his country needed a car industry.

Buildplan creditors hurting

The Age 25/05/2013 | Debts to tradespeople and suppliers by collapsed builder National Buildplan Group have blown out to $58 million but administrators say they are likely to recoup only cents in the dollar.

In the big picture, luck, tax cuts tell true deficit story

The Age 25/05/2013 | They say it's only when the tide goes out you discover who's been swimming naked.

Big spenders go for Coffey

The Age 25/05/2013 | Beaten-down stocks linked to the resource sector featured on the directors' trades front this week.

Bernanke all talk, no action (yet), on stimulus

The Age 25/05/2013 | There's a simple message in what appeared to be conflicting statements from the Federal Reserve, its chairman, Ben Bernanke, and an assortment of other Fed heavies this week about the timing of a move to re-tighten monetary policy.

Markets, investors on edge as Fed prepares to shift gears

The Age 25/05/2013 | Investors are contemplating a future without support from one of the biggest drivers of the global economy in recent years - the US Federal Reserve.

More...

Sponsored Links
Feedback Form