Ann: Half Yearly Report and Accounts, page-32

Both stocks have their place guys no doubt.

For me HVN repeesents an outstanding buy currently for the following reasons below but again each to their own-

* PE of 10.3
* Fully franked tax adjusted div of 5.1%
* Propery portfolio valued at $2.8B vs market cap of $4.3B
* Close to its 52 week low
* Overseas expansion
* Quality retail management at board level although they’ve made some investment mistakes no doubt
* Low gearing

Personally they are the reasons why I’ve been buying HVN for a trade or two.....those with patience will be handsomely rewarded I believe.

Good Luck All