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FOREST PLACE GROUP LIMITED (FPG)

FOREST PLACE GROUP LIMITED (FPG)

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General Information
Company Name: Forest Place Group Limited
Stock Code: FPG
Website: www.forestplace.com.au
GICS Sub-Industry: Diversified Real Estate Activities
Market Cap ($M): 186
Equiv. Shares (M): 83

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
$ 2.250 $ 0.000 $ 0.000 $ 0.000 $ 2.250 0 0%

Company Overview

Business Description:
Forest Place Group Limited (FPG) is a provider of retirement communities in South East Queensland. Its focus is on the development and sale of leases of accommodation units and the provision of development, marketing, management and administration services to retirement villages. FPG has adopted the corporate brand, Aveo Live Well, the trademark of FKP Limited (ASX:FKP), which holds 85.28% interest in FPG.

Strategy Analysis:
FPG focuses on providing a safe and secure base from which retirees can live well. The company has adopted a new corporate brand - Aveo - Live Well. Aveo offers retirement living with a strong sense of community spirit that forms the cornerstone of village life. Aveo is the trademark of FKP Property Group, who currently owns and operates 80 villages Australia wide and currently holds an 85.28% share in FPG. FPG has substantial investments in: Accrued exit fees; Retirement village land, communal facilities and infrastructure; and Syndicated retirement villages.


Financial Summary
Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2011  A -5.4 -6.5 -- 0.0 6.0 5.5 63.9
2010  A -3.8 -4.7 -- 0.0 0.0 0.0 --
2009  A -2.2 -2.6 -105.4 0.0 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
Forest Place (FPG) $186 M -- -- -- -- -- -- 0.0267 -- --
GPT Group (GPT) $5,719 M -0.5179 0.4475 0.0416 19.6440 13.5708 13.0293 0.0556 0.0583 0.0606
Mirvac Group (MGR) $4,256 M 0.1382 0.0047 0.0274 11.8121 11.7564 11.4430 0.0659 0.0661 0.0688
Stockland (SGP) $6,993 M 0.0871 -0.0252 0.0318 10.0607 10.3211 10.0032 0.0752 0.0762 0.0769
Westfield (WDC) $20,821 M -0.1885 0.0534 0.0782 14.7145 13.9689 12.9553 0.0534 0.0546 0.0557

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth
FPG 3.00 -- 0.76 --
Market 1.12 11.1 0.96 2.31
Sector 1.27 12.1 0.79 2.39

Directors
Name Position Start Date
Mr Geoffrey Earl Grady Executive Chairman 27 May 2009
Justin Michael Laboo Executive Director 27 August 2007
Mr Donald Charles Mackenzie Non-Executive Director 29 March 2004
Mr Philip Parker Non-Executive Director 21 April 2004
Mr Matthew Palavidis Non-Executive Director 01 November 2011

Management
Name Position
Michael Shannon Company Secretary

Substantial Shareholders
Holding Name
70,541,782 (85.42%) FKP Limited
9,712,053 (11.76%) John Patrick O'Shea and Peter Jospeh O'Shea

Calendar of Events
Date Event
21 February 2013 Report (Interim)
03 October 2012 Report (Annual)
23 August 2012 Report (Prelim)
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