AUPU Interim Results

Things aren’t good as we all know it.

Revenue down 11%. Earnings before tax down 30%. Profit margin before tax 16.25% down from 20.8%. ROE before tax 8.58% down from 12.12%. Dividend yield 5.7% for my cost, together with the 3.9% yield I got earlier, 9.6% yield.

I just feel the management is clamming up. They are charging customers for tiny things just to make the bottom line look better. Of course customers are not happy when faced with extra unexpected fees. On top of that, telephone customer service seemed non-existent for the last few months.  I saw somewhere they are updating their system? The government unswervingly controlling housing prices is least of my concerns, which just gives me more time to buy this.

For the price I bought this, I think it is decent. With good dividend yield, and potential to buy more, I can hold onto this for a few years. Whoever bought it at $0.51 is very lucky, I think.

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