based in Melbourne, an investment company listed Djerriwarrh Investments (DJW) leave some high-risk investment opportunities in half in December, according to its preliminary statement issued yesterday. sit
In fact some of the shares sold would be comfortable in their portfolio in most of the time, but the infrastructure, commercial real estate, bank and a large building, all companies selling products that investors in venture and moved with his horns
The company said yesterday its sales, including “all stocks Connect East, CFS Retail Property, James Hardie Industries, Macquarie Airports, Suncorp Metway and Westfield Group. Another major source of income has been created due to the acquisitions, Queensland Gas to British Gas and St George Bank Westpac.
The portfolio is still dominated by large cap stocks such as BHP Billiton, NAB, Commonwealth Bank and Telstra.
Suncorp was the worst financial stocks and Hardie is still exposed to the crisis in the U.S. housing market collapse.
is an important statement on how the company with a dealer in Melbourne and investment bank, Goldman Sachs JBWere, is affected, provides the immediate future of the market.
He said he sold his stock because of high investment risk and because he wanted to strengthen its position cash.
Djerriwarrh has booked a fall 47th% in half year profits of $ 29. 7 million to $ 15. 1 million loss resulting from these actions Discharge .
Djerriwarrh provisional net profit for the six months to December 31 fell to $ 56. 218 million in the previous corresponding half, despite a 22% increase in sales of Business $ 29. 271000000.
$ 15. 119 million loss on the sale of shares during the first half was in contrast to $ 29. 5 million of securities sales income in the previous corresponding half.
The company did not buy shares: she raised her actions Westpac St George acquisition, options to purchase cons portfolio to generate cash. In addition, the shares have responded to questions from some other companies in its portfolio a.
“purchases were primarily from participation in capital increases by the Commonwealth Bank, Incitec Pivot, National Australia Bank, Westpac and QBE Insurance (including shares to the takeover of St George Bank), “The company said in its statement to the ASX. < br /> Another sign of the ring Hunke below is that although the company had an elevator in the statements, the value of their portfolio was halved and the dividend to 10 cents per share, but reducing the dividend reinvestment program has increased from zero to 5% to encourage more owners to take shares instead of cash.

It’s a bit dependent on cutting companies already dividends and many owners of DJW calls for payments of dividends for income.
But it is a sign that businesses are looking at as much money as possible ” ; Halten /
P> In the statement accompanying the earnings announcement, the company that volatile conditions in equity, that the turmoil in global credit markets, an important impetus for income Djerriwarrh .
“The writing of call options as a substantial part of the activity Djerriwarrh increased revenues.
“option premiums received within the period of high volatility of these options. In addition, with the general decline in stock prices that very few positions that have been re -option of the Company acquired during the period.
“business income also benefited from participation in the buyback Santos early October 2008.
“With the interim dividend of 10 cents per share for the company instead, said the return of the action is a little over 7% franked complete. ;
“We believe that revenues should characterize the improvement Djerriwarrh build a diversified portfolio an attractive proposition for many investors in these uncertain times.
“Portfolio Performance of the company fell 23% more than in half in December, compared to 27% decline in the general market.
“This outperformance was the prevention or removal of the stock portfolio that has seen Djerriwarrh with an increased risk investment and a step to improve the cash transaction.” , < , br /> Djerriwarrh directors, said the company will continue to operate with a relatively high level of coverage option, while volatility remains high.
“It also seek other ways to invest in companies with strong franchises offer high dividend yields fully franked, dividend recognize companies in general are probably under pressure as the economy moves to come through a period slow activity.
“profit for the period (including net realized capital gains) was $ 29. Are seven million euros, 47% below the previous period corresponding to the reduction the number of shares sold from the portfolio of investments and the loss of these sales (unrealized investment portfolio were $ 15. € 1 million for the six months, compared to a profit of $ 29. 5 million in period, before taxes).

operating income (excluding capital gains) is $ 29. 3000000, 22 5% compared to the previous corresponding period. “ br /> The shares have risen 6 cents to 3 $ 64 yesterday.
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