"Yet shares in the company have been largely ignored by the market since its 2013 IPO, and now look great value trading at a 37 per cent discount to adjusted net asset value (NAV) per share of 129¢ (84p)."
"Expansion of the portfolio in the next year means earnings growth isn't expected to bounce until 2017 when EPS is forecast to more than double to 3.8¢. The wide bid-offer spread on the shares is an issue, but considering the growth potential and the wide discount to NAV we think it is a risk worth taking. Throw in cheap debt and a strong development pipeline, and Action is set and ready for big things. Buy.
Last IC view: Hold, 75p, 8 Apr 2014"
Probably suffering a bit from being in the wrong place at the wrong time.Middle East/Falling oil prices perhaps with a fall in tourist traffic due to political probs(Isis) albeit the latter not actually in its area of operation.
However it has an interesting business offer cheaper 3 star hotels in a market where expensive 5 star is the norm.So far results seem reasonable with signs of uplift in business in spite of above negatives but it is early days.
Shareprice is largely book asset backed,frankly I don't see any immediate catalyst to improve shareprice and only a small free float.But if/when all hotels come into operation should see increase in trade and hopefully profits.
I have a fairly small holding bought recently might add after results if in line with expectations.
There is a write up on these in the above, only came to market Dec 2013 looks quite interesting obviously there are very few PI's involved here hence my BB the first.
Will await response from any shareholder that can some info on this co.
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