I'm of the same opinion and can't be bothered selling out of a high yielding stock every time there's a scare ...........
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Time to play the “Significant Items’ trick again.
Some $50m worth this year
The disestablishment of these hedges really expensive eh ...so previous years profits have been ‘overstated’ under of guise of lowering earnings volatility
And most of the proceeds from selling the slot at Heathrow going into restructuring the cost base ...lol
Everybody will say the $30m of restructuring will say non-recurring / abnormal but not really as they are always doing this stuff
http://nzx-prod-s7fsd7f98s.s3-websit...578/315770.pdf
I'm quite surprised this stock hasnt dropped below $2.50 on sentiment alone, shows the strength of the business.
Doubt the $20-$25m reorganisation costs will be the end of it by any means. Wait till Greg Foran gets on board, has his meetings with 1200 senior staff in the first 100 days and we'll see what reorganisation costs come out in FY21.
Coutts, I reckon this virus is going to hit them like a sledgehammer. I wouldn't get on an aircraft for any reason to go anywhere at present.