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Sunland Group Limited (SDG) |
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| Company Name: |
Sunland Group Limited |
| Stock Code: |
SDG |
| Website: |
www.sunlandgroup.com.au |
| Market Cap ($M): |
215 |
| Equiv. Shares (M): |
324 |
|
|
 |
|
| Current Price |
Open |
High |
Low |
Last Close |
Volume |
Price Movement |
$ 0.650 |
$ 0.640 |
$ 0.665 |
$ 0.635 |
$ 0.665
|
554,331 |
$ -0.015 -2.256 %
|
|
| Recommendation : |
Hold
|
| Recommendation Date : |
2nd Apr 2009 |
| 12 Month Target Price (average) : |
$0.57 |
| Brokers Surveyed : |
2 |
|
| % of Market: |
0.0200 |
| % of Sector: |
0.0537 |
| Sector: |
Financials |
| Industry Group: |
Real Estate |
| Industry: |
Real Estate Management & Development |
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| Company Overview |
| SDG is a property development and management company operating in urban development, residential housing, multi-storey development and hotel management. The company currently has operations in the Gold Coast, northern NSW, Victoria, Brisbane, Sydney and Dubai. |
| Company History |
| The company was co-founded in 1983 by Foad Fathi and Soheil Abedian initially, focusing on building homes in select suburbs on Queensland's Gold Coast. In the early 1990s, SDG expanded into land subdivision and high-rise developments. The company was incorporated as a public company in 1994 and listed on the ASX in 1995. As of Decmber 2008, the company has approximately 3,123 units (unsold and contracted) in its Australian construction pipeline. |
| Differentiating Factor |
| SDG has four divisions: high-rise residential development and construction; residential housing development and construction; land subdivision; and tourism, as owners and operators. It developed the world's largest residential tower on the Gold Coast and owns and manages the Versace Hotel on the Gold Coast. The Group specialises in developing premium quality residential and hotel properties targeted at high-end customers. Many of its developments feature unique architectural designs. |
| Major Customers & Competitors |
| Major competitors include other diversified property groups that focus on capital growth in commercial, industrial and retail sectors, from Lend Lease, Australand and FKP to a large number of private property developers. SDG's customer base ranges from owner-occupiers to residential property investors. |
|
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
% |
| 2006A |
75.3 |
75.3 |
30.1 |
101.3 |
2.2 |
0.1 |
0.1 |
0.0 |
0.0 |
0 |
58.0 |
| 2007A |
88.1 |
66.1 |
22.3 |
-26.0 |
2.9 |
0.2 |
0.2 |
13.5 |
20.8 |
100 |
33.7 |
| 2008A |
99.0 |
99.0 |
30.6 |
37.4 |
2.1 |
0.2 |
0.2 |
14.0 |
21.5 |
100 |
18.6 |
|
1NPAT is normalised by removing non-recurring items and goodwill. All the above statistics are derived from normalised earnings.
|
| Lend Lease |
LLC |
$6.94 |
$3,203M |
9.7914 |
12.8046 |
-36.9110 |
-23.5323 |
6.1239 |
5.4035 |
| Australand Property |
ALZ |
$0.46 |
$780M |
6.4471 |
6.1594 |
-49.9548 |
4.6693 |
12.3913 |
13.0435 |
| FKP Property Group |
FKP |
$0.46 |
$542M |
1.9688 |
5.4730 |
-59.0933 |
-64.0268 |
6.5217 |
2.1739 |
| Peet |
PPC |
$1.58 |
$465M |
11.6011 |
12.6312 |
43.5675 |
-8.1550 |
3.7215 |
3.4810 |
| Sunland Group |
SDG |
$0.65 |
$215M |
2.6940 |
3.9237 |
-21.1020 |
-31.3420 |
4.6154 |
10.7692 |
|
| SDG |
17.1171 |
-12.7517 |
-69.4836 |
| Sector |
-0.1450 |
3.0087 |
-23.2190 |
| Market |
4.1522 |
5.1573 |
-25.9847 |
|
| P/E (x) |
FY07 |
2.9 |
13.8 |
14.2 |
|
FY08 |
2.1 |
14.0 |
13.8 |
| Yield (%) |
FY07 |
20.8 |
9.5 |
6.0 |
|
FY08 |
21.5 |
9.2 |
6.1 |
| EV/EBIT (x) |
FY07 |
0.8 |
5.7 |
8.7 |
|
FY08 |
0.9 |
5.8 |
8.0 |
| EV/EBITDA (x) |
FY07 |
0.8 |
5.6 |
7.4 |
|
FY08 |
0.9 |
5.7 |
6.7 |
|
| S Abedian |
Managing Director |
| S Abedian |
Director |
| J S Leaver |
Director |
| T Jackman |
Chairman |
| R Eames |
Non-Executive Director |
| J D Packer |
Non-Executive Director |
| Mr G Wein |
Director |
|
| S Abedian |
Managing Director |
|
| Pacific Development Corp. |
21.76 |
| Havannah |
13.76 |
| J D Packer |
13 |
| CVC |
9.57 |
| CVC Communications |
5.15 |
| Paradice Investment Management Pty Ltd |
5.134 |
| FMR Corp. and Fidelity Investments |
5.02 |
|
| 27-Mar-2009 |
Dividend Date Payable for Half Yearly Result
(3c 100% franked)
|
| 13-Mar-2009 |
Dividend Record Date for Half Yearly Result
(3c 100% franked)
|
| 06-Mar-2009 |
Dividend Ex-Dividend Date for Half Yearly Result
(3c 100% franked)
|
| 18-Feb-2009 |
Reporting Date for Half Yearly Result |
| 10-Nov-2008 |
AGM Date for Final Year Result |
|
|
Data supplied by Aegis Equities Research Pty Limited (ACN 085 293 910).
|
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