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): 146
Equiv. Shares (M): 159

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
 $ 0.950 $ 0.950 $ 0.965 $ 0.950 $ 0.920 60,624 $ 0.030  3.261 %

Company Overview

Business Description:
Devine Limited (DVN) is an Australian residential developer offering housing products in Queensland, Victoria and South Australia. DVN is segmented by four specialised business units working together. These business segments are: Devine Communities, Devine Home Building, Devine Apartments & Mixed Use Developments and Devine Constructions.

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 (%)
2013  A 9.4 6.0 -55.9 12.3 0.0 0.0 --
2012  A 21.4 13.5 11.6 5.8 4.0 5.2 100.0
2011  A 19.2 12.1 71.5 8.9 8.0 7.4 100.0
Source: Aspect actuals / Thomson IBES estimates

Peer Comparison
EPS Growth (%) P/E (%) Dividend Yield (%)
Company Mkt Cap 2011 A 2012 F 2013 F 2011 A 2012 F 2013 F 2011 A 2012 F 2013 F
Devine (DVN) $138 M -0.5589 -- -- 14.6218 -- -- 0.00 -- --
Lend Lease Group (LLC) $8,729 M 0.4790 -0.2990 -0.0112 9.9887 14.2492 14.4101 4.71 3.49 4.15
Scentre (SCG) $17,677 M 0.0229 0.1236 -0.0176 17.3097 15.4060 15.6826 5.98 6.14 6.34
Stockland (SGP) $9,395 M 0.0688 0.0644 0.0558 16.7294 15.7171 14.8865 6.00 6.00 6.00
Westfield Corporation (WFD) $15,544 M 0.0956 -0.0294 0.0200 18.1862 18.7375 18.3694 4.25 3.52 3.62

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth
DVN -- 15.5 0.46 --
Market 0.90 15.3 1.24 1.72
Sector 1.44 13.2 1.06 3.19

Directors
Name Position Start Date
Mr David Bruce Keir Chief Executive Officer,Managing Director 01 April 2010
Mr Peter James Dransfield Non-Executive Chairman 01 April 2010
Mr Ian Frost Non-Executive Director 28 May 2014
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
Mr Jeff Cummings Non-Executive Director 28 May 2014

Management
Name Position
Paul V Cochrane Chief Financial Officer
Craig Bellamy Chief Financial Officer,Company Secretary
Paul Victor Cochrane Company Secretary
C Mana General Manager: Apartments
M Tucker General Manager: Constructions
Andrew Brimblecombe General Manager: Queensland
M Devine General Manager: South Australia
N Anderson General Manager: Victoria

Substantial Shareholders
Holding Name
80,368,643 (50.63%) Leighton Holdings Limited
10,115,995 (6.37%) Brazil Farming Pty Ltd

Calendar of Events
Date Event
12 August 2015 Report (Interim)
27 March 2015 Report (Annual)
19 February 2015 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 Investing in Art

An educational booklet with useful, practical tips to help you make better-informed decisions about investing in art.

More details...

News

Aussie share market bulls now have company

Ric Spooner (Chief Market Analyst, CMC Markets) 20/10/2014 | Today, Australian investors will not have to go it alone buying stocks as they did for much of last week. Bargain hunters this morning will be supported by the morale boosting encouragement of a 3% turnaround in the German Dax and a 264 point rally in the Dow Jones.

The Importance of Ignoring the Noise of the Market

Carl Richards, director of investor education at the BAM Alliance 17/10/2014 | “As odd as it may sound, the sooner you start treating your investments like you treat life, the happier you’ll be with the outcome.”

You only dance twice

William H. Gross, Janus Capital Group 16/10/2014 | “Financial markets are artificially priced. In the bond market, there is nothing normal about a three year German Bund yielding “minus” 10 basis points.”

The Big Picture - Australia 200 Index

CMC Markets 8/10/2014 | Share market indices around the globe are breaking down. While analysts cast around for reasons, it’s clear that a time factor is in play. Simply put, many investors “feel” a correction is overdue. How low could it go?

Billionaires bankroll Ten's new direction Media Network sees digital future

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.

Elders alleges $24m fraud in live cattle division

The Age 19/12/2013 | Troubled rural services group Elders is threatening to call in the police over an alleged $24 million fraud by a "handful of individuals" in its live cattle exports division.

More...


Sponsored Links