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CNPR GROUP (CNP)

CNPR GROUP (CNP)

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General Information
Company Name: CNPR Group
Stock Code: CNP
Website: www.centro.com.au
GICS Sub-Industry: Diversified Real Estate Investment Trusts
Market Cap ($M): 39
Equiv. Shares (M): 972

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
$ 0.040 $ 0.000 $ 0.000 $ 0.000 $ 0.040 0 0%

Current Broker Consensus Recommendation more
Recommendation: Sell
Recommendation Date: 26th Feb 2010
12 Month Target Price (average): $0.11
Brokers Surveyed: 1

Company Overview

Business Description:
CNPR Group (CNP) is an Australian REIT listed on the ASX. The company have funds under management across Australasia totalling $7.1 billion. The company invests in shopping centres via listed and unlisted property investment funds.

Strategy Analysis:
CNP's focus remains on the retail property sector, in particular neighbourhood and sub-regional retail property assets. Growth has come primarily through acquisitions and movement into the US market. Due to the challenging economic environment, a focus back to the fundamentals of property management has been necessary for the company. Organic growth is expected, in time, through the ongoing redevelopment of retail property assets. Centro Properties reported NPAT of $2,744.57m for the year ended 30 June 2011. Revenue from ordinary activities were $1,333.17m, down 26.21% from last year. Basic and Diluted EPS were 284.54 cents compared to (67.96) cents last year. Net operating cash flow was $86.64m compared to $467.32m last year. No dividend was declared.


Financial Summary
Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2011  A 619.2 64.2 254.7 0.2 0.0 0.0 --
2010  A 173.9 18.1 -71.9 1.3 0.0 0.0 --
2009  A 570.0 64.4 -- 0.2 0.0 0.0 --
Source: Aspect actuals / Thomson IBES estimates

Peer Comparison
EPS Growth (%) P/E (%) Dividend Yield (%)
Company Mkt Cap 2009 A 2010 F 2011 F 2009 A 2010 F 2011 F 2009 A 2010 F 2011 F
CFS Retail Property Trust (CFX) $5,338 M 0.1133 0.1320 0.0229 16.2209 14.3293 14.0089 0.0676 0.0697 0.0716
CNPR (CNP) $39 M 2.5464 -- -- 0.0623 -- -- 0.0000 -- --
Dexus Property (DXS) $4,524 M 0.2417 -0.0793 -0.0013 11.2380 12.2063 12.2222 0.0554 0.0572 0.0604
Goodman Gp (GMG) $5,284 M -0.3579 0.7380 0.0691 19.4191 11.1730 10.4505 0.0513 0.0540 0.0586
Investa Office Fund (IOF) $1,633 M -0.1105 0.0000 0.0705 13.3870 13.3870 12.5059 0.0586 0.0586 0.0642

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth
CNP -- 0.06 -0.08 --
Market 0.80 12.1 1.33 1.35
Sector 1.27 12.1 0.79 2.39

Directors
Name Position Start Date
Mr Michael James Humphris Non-Executive Chairman 22 December 2011
Ms Susan Mary Oliver Non-Executive Director 01 October 2009
Mr Martin Moule Hudson Non-Executive Director 22 December 2011

Management
Name Position
John Georgakis Chief Executive Officer
Paul Belcher General Manager - Finance
Mark Wilson General Manager - property Operations Australia
Gerard Condon General Manager - Syndicate Funds Management
Chris Nunn Group Financial Officer
Sue Smith Group General Manager - Human Resources
Danielle Rowe Joint Company Secretary
Elizabeth Hourigan Joint Company Secretary

Substantial Shareholders
Holding Name
31,734,546 (3.26%) JP Morgan Nominees Australia Limited
67,790,447 (6.97%) HSBC Custody Nominees (Australia) Limited

Calendar of Events
Date Event
27 August 2012 Report (Annual)
27 August 2012 Report (Prelim)
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