Forum Archive Index - February 2001

["Geoff Walker" <geoffk_walker@hotmail.com>]

Hi

the STU result last week barely raised a mention in the local papers or 
sharechat.  Is it because they are "old economy", produce reliable results 
year after year, pay an excellent dividend, have little debt, and they don't 
pay CEO's $6.9m for 2 years work??

IMO, the result ($6.7m v $6.4m last year - 7c half year div fully imputed.  
Net annualised div of 10-11%) was excellent considering the low level of 
construction in NZ at the moment.  Once housing & general construction 
inevitably pick up, STU should benefit considerably.  Add in the Fletcher 
Building announcement last Friday that they are seeking clearance from the 
commerce commission to buy part / all of STU as well has also got to be good 
for their shareprice.  If FLB weren't interested, why renew their 
application?  Where there's smoke there's fire!

Regards

Geoff

disc hold STU shares





have owned STU shares for a while now
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