Forum Archive Index - September 2001

[Philip Robinson <robph639@student.otago.ac.nz>]

SkyCity,

Must say that this stock is second only in my portfolio to FAP, as far as
performance and me liking it. I really believe that this company has much
potential, notice they gave out a 36cps dividend and THEN the price rose
$1.30, so much for the people who say that the price has to drop by 36cps.

If only Brierleys hadn't sold their huge stake they might have made a
profit, but on the other hand, management/board etc would be completely
different in that case and a proper comparison cannot be made.

About the sharespit thing, overseas buyers drive the price and they prefer
more expensive shares, so I would not look to expect a share split. I would
prefer that the company is valued on its fundamentals not on whether it
trades for $3 dollars or $13 dollars. As far as fundamentals are concerned
it makes no difference.

I like the company, management, business and growth plans of Skycity and
the recent namechange reflects the broader focus that the company has adopted.

I must note that some have commented on this company saying that it does
not comply with ethical investing principles. I note their arguments and
agree with some of them, but I also note that SKC contributes a lot of
money to communities and sponsors many sports teams and community events.

For those of us with a small holding the chance to participate in a
discounted DRP is also welcomed although it must be noted that this dilutes
the shares and increases equity, although this may not be such a bad thing
for a compnay like SKC who are constantly expanding.

Excellent dividend yield, fully franked for those of us earning under the
33c in the dollar means a small surpirse cheque from the old IRD at year end.

Although they must be careful about their speed of expansion and they they
don't do a Warehouse and hurt growth, although WHS will obviously recover I
think you know what I mean, kind of like MHI but not that slowly.

There was something else I was going to say and I can't for the life of me
remeber what it was, I seem to be having this problem more and more, anyway
it may come to me later, you may just have to wait for it, I hope it will
be worth it

Cheers
Phil
(proud and loyal SKC holder)




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