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Company Information

Company at a Glance

Industry:
Real Estate Management & Development
Fiscal Year-End:
Jun 10

Company Overview

SDG is a property development and management company operating in urban development, residential housing, multi-storey development and hotel management. The company currently has operations in the Gold Coast, northern NSW, Victoria, Brisbane, Sydney and Dubai.

Company History

The company was co-founded in 1983 by Foad Fathi and Soheil Abedian initially, focusing on building homes in select suburbs on Queensland's Gold Coast. In the early 1990s, SDG expanded into land subdivision and high-rise developments. The company was incorporated as a public company in 1994 and listed on the ASX in 1995. As of December 2008, the company had approximately 3,123 units (unsold and contracted) in its Australian construction pipeline.

Industries Of Operation

SDG operates in the real estate industry. Its activities revolve around creating wealth for securityholders through the management of property-related investment funds. Investment funds comprise investments in residential developments, office blocks, townhouses and investment properties.

Differentiating Factor

SDG has four divisions: high-rise residential development and construction; residential housing development and construction; land subdivision; and tourism, as owners and operators. It developed the world's largest residential tower on the Gold Coast and owns and manages the Versace Hotel on the Gold Coast. The group specialises in developing premium quality residential and hotel properties targeted at high-end customers. Many of its developments feature unique architectural designs.

Major Customers & Competitors

Major competitors include other diversified property groups that focus on capital growth in commercial, industrial and retail sectors, from Lend Lease, Australand and FKP to a large number of private property developers. SDG's customer base ranges from owner-occupiers to residential property investors.

Research provided by  

Market Statistics

Market Cap ($M):
220.8
Equiv. Shares (M):
292.4
% All Ords:
0.01
12Mth Range ($):
0.29 - 0.89
Turnover ($M pa):
193.5
Index:
S&P/ASX 300
Sector:
Financials
Industry Group:
Real Estate
Industry:
Real Estate Management & Development
Sub Industry:
Diversified Real Estate Activities

Last 5 Market Sensitive Announcements

Date
Announcment
10-Dec-09 12:04
Sunland Acquires Premier Brisbane CBD Residential Site
27-Nov-09 11:57
Sunland Group AGM 2009 Chairman`s Address
17-Nov-09 10:11
Sunland Acquires Third Pacific Pines Site on the Gold Coast
12-Nov-09 12:43
Sunland Announces 2010 Project Releases
23-Oct-09 11:28
Announcement of buy-back - Appendix 3C

Calendar Of Events

Date
Event
27-Nov-09
AGM Date for Final Year Result
26-Aug-09
Reporting Date for Final Year Result
27-Mar-09
Dividend Date Payable for Half Yearly Result (3c 100% franked)
13-Mar-09
Dividend Record Date for Half Yearly Result (3c 100% franked)
06-Mar-09
Dividend Ex-Dividend Date for Half Yearly Result (3c 100% franked)

Directors

Name
Position
S Abedian
Managing Director
S Abedian
Director
J S Leaver
Director
T Jackman
Chairman
R Eames
Non-Executive Director
Mr G Wein
Director

Management

Name
Position
S Abedian
Managing Director

Substantial Shareholders

Name
% Holding
Pacific Development Corp.
21.8
Havannah
13.8
J D Packer
13.0
CVC
9.6
Orbis Investment Management
6.0
CVC Communications
5.2
Paradice Investment Management Pty Ltd
5.1
FMR Corp. and Fidelity Investments
5.0

Consensus Recommendation Summary


1
0
3
0
0
Sell Under Perf. Hold Out Perf. Buy

Number of Brokers in Recommendation Summary: 4

Consensus Earnings

FY10 FY11
Consensus EPS1 (c) 15.3 32.3
EPS Growth (%)   111.8
P/E Ratio (x) 5.0 2.4
P/E Rel. All Ords (x) 0.34 0.19
P/E Rel. Sector (x) 0.51 0.27
Number of Brokers in Earnings Survey: 3 3

1. Consensus EPS is generally "reported EPS" but will vary as to whether it is on a pre or post preference earnings basis. This number is not always on the same basis as the Aegis EPS.

Historical Forecast Earnings And Recommendations

Consensus Recommendations

Consensus information provided by Reuters.

Consensus EPS Forecasts 1

1. Consensus EPS is generally "reported EPS" but will vary as to whether it is on a pre or post preference earnings basis. This number is not always on the same basis as the Aegis EPS.

Peer Recommendation Comparison

  P/E (x) EPS Chg (%) Dividend Yield (%) MktCap ($M) Price ($) Consensus Rec
  09A 09A 09A    
Lend Lease Group 12.9 (36.3) 4.5 4,303.9 9.19 Out Perf.
FKP Property Group 2.8 (59.2) 5.2 795.8 0.66 Out Perf.
Australand Property n/a n/a n/a 754.9 0.45 Hold
Peet 15.9 (40.0) 3.4 628.7 2.07 Buy
Sunland Group 4.6 (46.2) 3.9 223.7 0.77 Hold

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