I rang the company secretary yesterday.She said we should see it today.
I thought there would have been a big jump with the SP with an announcement like that?
Where's Percy? We need a rave anda bit of detail.
Must be the doom & gloom weather :/
Post the acquisition of Turners they were saying 2016 profit of 23m - now 20m - because of timing of one offs? Might be the issue. Still think it is a great result.
A very pleasing result,very much in line with previous updates.ie NPBT of $14mil while the abnormals were$1mil higher at $5mil.
The balance sheet is strong with equity ratio at 36.78%,and operating cash flow was an excellent $10.485mil.
Very rough figures sp at 31cents,eps 3.28 gives a PE of 9.45 or using diluted eps of 3,01 the PE 10.3.
Still growing but at a more modest rate..
Please note I have altered this post, as I had made a number of errors.Basically taking the one offs as continuing earnings,which unfortunately they are not..
Yesterday I misread the TNR result.I got mixed up with taking the abnormals as normal.
The result offcourse did not include a full year of the "Turners auctions".
I also failed to factor in the fact TNRs are not paying full tax.
The 2016 projection was downgraded from $23mil to $20mil.
The result was not what I expected, therefore I have sold my holding.
To achieve the $23mil TNR will have to make an acquisition.Depending on what the acquisition is,the terms of the acquisition,and whether I think it is good or not,will guide me as to whether I will buy in again.