FKP 8.12.99
Interesting chart price at present. Interesting fundamentals. Price has
settled around half way between the recent extreme high and low. The lows
have been lifting each successive month for a year now. The sideways move
probably accounted for by the recent Kurts Properties merger.
Net Asset Backing, $1.21 is above current chart price. Earnings per share
has been increasing, with a yield of 9% fully franked.
Chart to watch here. FKP board has undertaken to buy back shares prior to
Feb 2000 which will reduce the floating supply. Normally bullish.
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