Quote:
We have set a profit target of $20m–$24m for the 2011–2012 financial year. Achieving that forecast will be dependent on our ability to meet our performance milestones and anticipate and quickly adapt to any major market events, needs and opportunities. By virtue of a law change, a one-off deferred tax benefit will be booked as an additional credit to NPAT for the 2011-2012 financial year. The amount of this credit is likely to be in the order of $5m to $6m. This credit will have a positive impact on the forecast.
While yesterday's update certainly reads as though it IS included in the forecast (and to be booked in first half as part of the $9-$10m first half NPAT, thereby making underlying first half only $3-$4m).