More and more companies are battening down the hatches as the coronavirus banks and crackdowns escalate. Property developer Stockland, gambling and gaming giant Tabcorp, and health insurance firm NIB are among the latest to mothball earnings guidance while Ardent Leisure and Village Roadshow have shut their Gold Coast theme parks.
Recent management changes have ignited speculation Stockland might be looking into selling some assets and Citi analysts are already looking forward to the May 10 Investor Day. No changes at this stage.
The company’s investor briefing in Queensland indicated management is comfortable with its overweight position in that state. Economic growth in Queensland is expected be the highest in Australia from 2018-2021.