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Recent ShareScene.com Radio Broadcast (01/08/2008 11:30:00):

MAP - Half year and 2nd Quarter 2008 Results for Brussels Airport, Ms Kerrie Mather, CEO

 

N.B. ShareScene.com Radio can normally be accessed by the 'RADIO' link, top of every page.

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ShareScene.com Radio delivers investor presentations from ASX listed companies. Keep up to date with the latest corporate dealings of the shares you follow. Hear news direct from the source. Listen to directors and investor relations mangers discuss their company, give investor updates and brief on current results. ShareScene.com Radio keeps you informed about company announcements and events, and provides you daily market wraps and industry discussions.

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Recent ShareScene.com Radio Broadcast (05/08/2008 10:45:00):

MAP - First Half 2008 Results for Copenhagen Airports - Ms Kerrie Mather, CEO

 

N.B. ShareScene.com Radio can normally be accessed by the 'RADIO' link, top of every page.

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ShareScene.com Radio delivers investor presentations from ASX listed companies. Keep up to date with the latest corporate dealings of the shares you follow. Hear news direct from the source. Listen to directors and investor relations mangers discuss their company, give investor updates and brief on current results. ShareScene.com Radio keeps you informed about company announcements and events, and provides you daily market wraps and industry discussions.

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  • 2 weeks later...

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Recent ShareScene.com Radio Broadcast (20/08/2008 11:10:00):

MAP - Summary of MAp 1H08 Results - Ms Kerrie Mather, CEO

 

N.B. ShareScene.com Radio can normally be accessed by the 'RADIO' link, top of every page.

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ShareScene.com Radio delivers investor presentations from ASX listed companies. Keep up to date with the latest corporate dealings of the shares you follow. Hear news direct from the source. Listen to directors and investor relations mangers discuss their company, give investor updates and brief on current results. ShareScene.com Radio keeps you informed about company announcements and events, and provides you daily market wraps and industry discussions.

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Recent ShareScene.com Radio Broadcast (20/08/2008 11:00:00):

MAP - 2008 Half Year Results Briefing - Ms Kerrie Mather, CEO and Mr Graeme Johnson, CFO

 

N.B. ShareScene.com Radio can normally be accessed by the 'RADIO' link, top of every page.

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ShareScene.com Radio delivers investor presentations from ASX listed companies. Keep up to date with the latest corporate dealings of the shares you follow. Hear news direct from the source. Listen to directors and investor relations mangers discuss their company, give investor updates and brief on current results. ShareScene.com Radio keeps you informed about company announcements and events, and provides you daily market wraps and industry discussions.

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Recent ShareScene.com Radio Broadcast (19/09/2008 09:45:00):

MAP - MAp Traffic for August 2008 - Ms Kerrie Mather, CEO

 

N.B. ShareScene.com Radio can normally be accessed by the 'RADIO' link, top of every page.

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ShareScene.com Radio delivers investor presentations from ASX listed companies. Keep up to date with the latest corporate dealings of the shares you follow. Hear news direct from the source. Listen to directors and investor relations mangers discuss their company, give investor updates and brief on current results. ShareScene.com Radio keeps you informed about company announcements and events, and provides you daily market wraps and industry discussions.

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  • 5 months later...

I gave up on MAP a couple of years ago. Didn't like the opaque accounting; the convoluted web of owning companies; the practice of paying distributions ( note - not dividends ) by revaluing assets and borrowing against the increase.

A big shame, because the assets themselves were attractive.

 

:rolleyes:

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My sentiments exactly macduffy. They've got one of the safest assets you can own, and turned it into one of the riskiest blue chips on the market today. I remember reading an article which contained a table on its debt levels. The thing that struck me was that the interest Sydney Airport it was paying on its debt in 2007 was greater than the entire profitability of the airport just prior to Maccas buying it out. They took on a load of debt when buying it, and have been piling it on year after year to pay dividends.

 

I think management are thanking their lucky stars we did not go the way of Europe and the US. A severe recession would absolutely cream the revenues at Syd. Airport.

 

On the dividend, it should also be noted that the 27c per share div is subject to economic conditions. The board has left a lot of leeway for them to cut the div.

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