SWX:PLANReal Estate
Plazza (SWX:PLAN) Stock Reflects A One Off Gain Driven Profit Surge
Plazza stock closed at CHF432 after a flat week, which does not really match the tension inside these H1 numbers. The market seems oddly calm while the real story is a sharp earnings windfall that leans heavily on a one off gain of CHF65.6m. That single item helps produce CHF77.5m in trailing net income and an 11.5x P/E that appears inexpensive compared with Swiss real estate peers.
Investors now face a sentiment test: is this a genuinely improved Plazza, or a balance sheet and earnings...