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Current Price Data+
Current Price
Open
High
Low
Last Close
Volume
Price Movement
$ 0.795
$ 0.790
$ 0.795
$ 0.775
$ 0.785
2,517,862
$ 0.010 1.274 %
Current Broker Consensus Recommendation
Recommendation :
Hold
Recommendation Date :
27th Aug 2010
12 Month Target Price (average) :
$0.9
Brokers Surveyed :
4
Market Statistics
% of Market:
0.0725
% of Sector:
0.6457
Sector:
Financials
Industry Group:
Real Estate
Industry:
Real Estate Management & Development
Company Overview
Company Overview
FKP Property Group (FKP) is a stapled security comprising a unit in the trust and a share in the management company. FKP is effectively a retirement property owner and operator, with ancillary businesses in residential development and funds management, adopting a capital recycling business model where property is developed and vended into third party managed funds.
Company History
FKP was formed from Peter Kurts Properties and Forrester Parker Group. Peter Kurts Properties was listed on the stock exchange in 1970, formed to acquire the interests of the Kurts family, which commenced real estate activity during 1953. Forrester Parker Group Ltd had its origins in a venture formed in 1979 between Rodney Forrester and Philip Parker. It was incorporated in 1987 and listed on the stock exchange in 1993.
Differentiating Factor
FKP has a diverse income stream, generating revenue from the sale of its property developments as well as income from its property management division. FKP aims to diversify its property developments to include retail and commercial developments. It also aims to grow its retirement business in order to augment its recurrent income stream. FKP has grown over the 30 years since it was established to be included in the ASX top 200.
Major Customers & Competitors
FKP sells its residential developments to a mixture of owner-occupiers and property investors. Its retirement villages are available to self-sufficient retirees. It competes with various listed and private development companies and other specialist property managers.
Financial Summary
Year to Jun
NPAT Rep $M
NPAT1 Adj $M
EPS c
EPS chg %
PER x
PER rel All Ords x
PER rel Sector x
DPS c
Yield %
Franking %
ROE %
2008A
145.3
154.6
46.4
-7.2
1.7
0.2
0.2
25.8
32.5
100.0
16.0
2009A
(319.4)
79.3
17.3
-62.7
4.6
0.2
0.3
3.5
4.4
100.0
7.3
2010A
50.8
111.3
9.7
-43.9
8.2
0.4
0.6
1.5
1.9
100.0
7.6
1NPAT is normalised by removing non-recurring items and goodwill. All the above statistics are derived from normalised earnings.
Sydney Morning Herald 3/09/2010 | THE former Foster's Group chief executive, Trevor O'Hoy, has broken his silence over the future of the beverages giant he once led, saying a demerger of its wine and beer businesses makes perfect sense in today's investment climate.
The Age 3/09/2010 | TREVOR O'Hoy, the former Foster's Group chief executive who was at the helm when it made its ill-fated acquisition of wine business Southcorp for $3.7 billion, says the proposed corporate split makes perfect sense in the present climate.
Sydney Morning Herald 3/09/2010 | SHARES worth millions of dollars in Australian-listed companies have been frozen by the Federal Court as the Tax Commissioner pursues companies linked to a Swiss-based Belgian businessman over $28 million of outstanding tax assessments.
The Age 3/09/2010 | THE Federal Court has extended a freeze order on shares worth millions of dollars in Australian-listed companies as the tax commissioner pursues companies linked to a Swiss-based Belgian businessman over $28 million of outstanding tax assessments.
Sydney Morning Herald 3/09/2010 | A decision this week by the Administrative Appeals Tribunal to overturn an order by the Australian Securities and Investments Commission to ban the head of Tricom, Lance Rosenberg, from the financial services industry is a win for Rosenberg, a partial public relations win for ASIC but a big win for public disclosure.
$ 0.795
