My freinds were saying that their 2Q profit could be AED 1 billion and 2008 profit may go to over AED 2 billion.
Property values are rising in Dubai so that may well be possible - DIC owns property and book increased value as profits (but you'd have to look at how much property and estimate possible per square foot valuation to make some sort of estimate).
More important for you though, is why your friends say that, and based on what information? Or do they have a record of making accurate forecasts?
So yes, you could extrapolate and say AED 0.5 bn per quarter means AED 2 bn profit for 2008. Or continuing the pattern of FY earnings: 1.0, 1.5, 2.0 bn.
But that's too simple, you need to spend some time looking at quality of earnings... Be careful to differentiate between what you want to hear, and what makes sense .
A change in time may not change the opinion and profitability of DIC!!.
Let us Buy at every good dips. Keep a good more than 30% of your bag in DIC...It will be a hit again soon another time.. But I don't know the time...fimah
A change in time may not change the opinion and profitability of DIC!!.
I agree. buying at every dip will certainly result in more gains. I would expect it to go higher within 1-2 weeks. I bought 25000 shares at 3.90. thinking of booking profits above 4.25. though 4.50 is my ideal target
guys, did u notice trading volumes in DIC this morning. UNBELIEVABLE!!! somebody is buying DIC like anythin
I also bought some shares this morning.
Here are few trades;
somebody bought more than 50 million shares within 10 minutes. that is REALLY SOMETHING!!! i suspect big rally is abt to come and soon this stock might be above 5 within few days.
I saw 150 million buying also on same day in DIC above 4.30. this is very heavy buying. It could be buy-back frm company itself or institutional investor. let's see how it shapes. I would like to see it above 5 very soon
stock guru, DIC is still at 3.7.
SW, can we expect DIC to go up if profits are 1bn?. I bought last month at 4.07, shall I sell it or wait for the results? Please someone advise.
DIC is and has always been beset by big problems.
Conflict of interest is rampant among the people involved in this company at the high levels.
You can analyse their reports all you want. They are most likely useless.
There are valid reasons why this stock has never flown high. Read the last two sentences and try to see where this is going (read between the lines).
We own this stock, a good chunk of our core holdings.
It was a huge mistake not getting out of it at any point in the last 3 years!
DIC is certainly great price... but every day foreigners are selling Dhs 3-4m which causes huge pressure on the price. Only 2.81% left
DIC is now trading 30% below book value, and it should book a profit of 65 fils per share in 2008.
How about UPP which is also trading below book value and should book between Dhs 1.4 to Dhs 1.6 profit per share in 2009 (almost gauranteed, because they will just recognize the profits of projects that are almost complete now and they have recieved 80-90% of the payments already). This is in addition to 40-50 fils for 2008
Would you imagine buying a running company below the book value AND with gauranteed profit for the first 15 months that is more than the share price ?!
You can have a look at Tamweel and also..same story...
Aldar and Emaar are not far off, they are well below book value, and 2008 profitability is much more than 25%, 2009 should be better
The common factor here they are all related to real estate.....Investors are not sure yet of how sever will be the correction ....or a total collapse
By the way, some banks like ENBD are also now below book value, and 2008 profitability (P/E) is about 20%
In short most of the companies listed in DFM and many in ADX looks very attractive, but why buy now when you can buy later at a lower price ???
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