Shaw Capital Working Management Tips: A Turning Point For Mirvac
http://www.
fnarena.
com
FNArena News – February 23 2011
By Chris Shaw
Property development group Mirvac (MGR) delivered an interim operating profit of $200.
1
million, a result boosted by...
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Shaw Capital Working Management Tips: A Turning Point For Mirvac
http://www.
fnarena.
com
FNArena News – February 23 2011
By Chris Shaw
Property development group Mirvac (MGR) delivered an interim operating profit of $200.
1
million, a result boosted by higher net operating income and lower interest charges and showing
better than expected numbers from the investment management and hotel management divisions.
The result was well above market expectations, as Macquarie had been forecasting an operating
profit of $169 million and JP Morgan $162.
7 million.
While earnings will be skewed to the first
half, management at the company now expects a result at the top end of previous guidance, which
implies an earnings per share (EPS) outcome of 10.
4-10.
6c for the full year.
Forecasts have been adjusted to reflect this, Macquarie making minor increases to its estimates and
BA Merrill Lynch and UBS following suit.
Consensus EPS estimates according to the FNArena
database now stands at 10.
Less
