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Peet’s $8.5m Byford raising

AUSTRALIA’S largest broadacre property syndicator, Peet and Company Ltd, has launched an $8.5 million capital raising for a 19.7 hectare parcel of land in Byford, south of Perth. A new entity, Peet Byford Syndicate Ltd, was created for the sole purpose of purchasing land, subdividing it and selling the resulting housing and other blocks. Located adjacent to the Byford town centre, the site is within 400 metres of the existing railway station, which is earmarked for a future upgrade to a commuter station. The property is zoned urban development and is close to existing primary schools and a proposed high-school site. Peet and Company managing director Warwick Hemsley said Byford was expected to house more than 20,000 people over the coming years and was already experiencing a rapid increase in development activity and residential lot prices. “It is proposed that the property will be developed in the future for a range of ‘inner-urban’ uses such as residential lots, medium density housing, commercial uses and retirement housing as is appropriate for the doorstep of a town centre,” Mr Hemsley said. Peet and Company listed on the Australian Stock Exchange in August 2004, and has been involved in residential and land development for more than 110 years, master planning estates in WA, Victoria and Queensland in that time. Peet, its subsidiaries and syndicates under management, produced before-tax profits for investors of $115 million in the 2005 financial year, with those entities selling a total of 2,507 lots in the same time period.

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Peet (PPC)

Share Price

Closing price for the last 90 trading days
Source: Morningstar

BN30 Index

Index = 100 as of 4 Jan 2016
Source: Morningstar

Total Shareholder Return as at 29/03/18

1 year TSR5 year TSR
41stEmeco Holdings245%-14%
276thPeet26%6%
287thCash Converters International24%-21%
315thCedar Woods Properties20%9%
498thGR Engineering Services-8%16%
716 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

15/12/17
$0 Issued
12/09/17
$0 Other
12/09/17
$0 Bought
Total value as at the date of the transaction
Source: Morningstar

Revenue

21st↑Peet$296.0m
22nd↑Cash Converters International$270.9m
23rd↑GR Engineering Services$239.3m
25th↑Cedar Woods Properties$222.4m
26th↓Emeco Holdings$221.8m
236 listed industrial companies ranked by revenue.
Source: Morningstar

Remuneration from Peet

6thBrendan Gore$3.735m
25thPeter Dumas$1.373m
87thDom Scafetta$825k
Ranked by total remuneration from all listed WA companies

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