Duet Group: Result 2013

Duet has simplified its structure and internalised its management, and with a lower share price it's beginning to look interesting.

The headlines looked atrocious as Duet reported a 55% decline in reported net profit to $20m but, as ever, reported earnings tell us little in this sector. The distribution, which rose slightly to 8.25 cents per security (unfranked, ex date passed), takes the full-year distribution to 16.5 cents and was more telling. With a current yield of 8%, things are not nearly as dire as the headline numbers suggest.

Duet’s results are muddied for several reasons: accounting depreciation doesn’t match real asset depreciation; while hedge contracts, foreign exchange effects, performance fees and other oddities make for complex reading.



{{ twilioFailed ? 'SMS Code Failed to Send…' : 'An SMS verification code has been sent ...' }}

Hi {{ user.FirstName }}

Looks like you have already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to complete your SMS verification

We cannot send you a code via SMS to {{user.DayPhone}}

If you didn't receive SMS code please

SMS code cannot be sent due to: {{ twilioStatus }}

Please select one of the options below:

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device

Verify your mobile number to proceed...

Please check your mobile number below and press the Send Verification Code button. This will be used to complete your verification in the next step.

Please sign up for full access


Updating information

Please wait ...


{{ productPrice }} / day
( GST included )
Price $0
GST $0
Discount -{{productDiscount}}
TOTAL {{productPrice}}
  • Mastercard
  • Visa

Please click on the ACTIVATE button to finalise your membership


The email address you entered is registered with InvestSMART.

Please login or select "Don't know password"

Please untick this box when using a public or shared device

Register as a new member

(using a different email)

Related Articles