It may be that the accounting department have had to expand the column width in the spreadsheet to accommodate the increase in numbers. Held up whilst the IT department tell them how to do it.
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see weed reporting from Whagamata club. Not much talk on these ADR's from last weeks announcement. Not to sure on how it works, assume it makes it easier for Americans to buy up blocks of AIR shares. There won't be many left to buy if that's the case. Correct me if I'm wrong:confused:.
Implied 0% growth rate from 2017 onwards = (35(8.5+0)*4.4/3.5)/100 = $3.74
Implied 1% growth rate from 2017 onwards = (35(8.5+2)*4.4/3.5)/100 = $4.62
Aren't their earnings supposed to decline over the next 3-5 years?
Bit like the building cycle eh - activity goes up and down like other cyclicals and many get it wrong
But you have to make some ssumptions about the future when you take a punt on a company. don't you?
As your hero says "Prediction is very difficult, especially about the future" My hero Yogi Berra said something similar