Strong cash inflows have improved the cash position of this company and it has a portfolio of valuable land assets that should add to the value of the company over the medium-term. Profit forecasts have been significantly upgraded on the back of the latest trading statement.
Bumper dividends are promised as cash is repatriated from an overseas joint venture, where performance is better than expected. This is on top of a growing underlying dividend. The share price has risen on the back of the trading statement, but it is still at a discount to NAV.
Past problems have been sorted out or are on ...
