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Business Description: Finbar Group Limited (FRI) engages in property investment and development. FRI focuses on the development of medium to high-density residential buildings and commercial developments by way of direct ownership, ownership through fully owned subsidiaries or by jointly controlled entities (through companies registered specifically to conduct the development). The operating segments include: Residential apartment development, Commercial office/retail development, and Rental of commercial property, which are all in Western Australia.
Strategy Analysis: A focal point for management will continue to be ensuring the construction and commencement of pre-sold projects with limited interruptions. This will protect cash flows and help to position the company in a softening property market. There have been a number of land acquisitions over the previous financial year and a joint venture development in East Perth which has the potential to add significant value to the investment portfolio over the next six years.
Finbar Group reported NPAT of $14.04m for the half-year ended 31 December 2012. Revenue from ordinary activities were $62.24m. Basic and Diluted EPS were 6.54 cents compared to (0.31) cents last year. The net operating cash outflow was $23.04m compared to an outflow of $69.87m in the pcp. The interim dividend declared was 3.5 cents, compared with 3.5 cents last year.
The Age 20/06/2013 |
Pre-split trading of shares in "New Newscorp," the print media-heavy spin-out from News Corp began quietly on Wednesday, and it will take a while to work out where the new vehicle is headed.
The Age 20/06/2013 |
Local councils that lost millions on investments made through Lehman Brothers have suffered a major setback, after the US arm of the failed bank blocked a deal that would have delivered the investors up to $210 million.
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