Rain has gone, but not the Ash
Quote:
Originally Posted by
noodles
I surprised no one on this forum(not even snoopy) has commented on the half year result, 16.5 million.
This does not even put them on target for the lower end of the target range, 34 million.
Are hnz seasonal? If not, i fear a profit warning coming.
Given the historical seasonality of Heartlands profit (over the last two years at least) we are surprised you have commented on the tentative first half result.
If the prior years 43%/57% profit split is maintained then the full year would be expected to be about $38m on this basis.
But of course we will have 3 months of this new stuff and 'one-offs' around the acquisition to muddy the waters a little :mellow:.
As for the first half dividend this will be paid on a larger number of shares (the $15M equity placement and effectively through the reduced price of the SPP shares) so I consider $0.02 to be the most likely amount.
Best Wishes
Paper Tiger
Playing it reasonably nicely
Quote:
Originally Posted by
noodles
I'm not sure if the last 2 years can be relied on. There have been significant costs being taken out of the business including the banking licence effect. Obviously i need to dig into this a bit more.
EDIT: Ok digging more
Here are the last 2 year "
Profit before impaired asset expense and income tax"
1h12 |
9400 |
2h12 |
19937 |
1h13 |
20200 |
2h13 |
16340 |
Definitely seasonality in FY12, but the opposite seasonality on FY13. It's all over the place.
Now if you were Snoopy I would invoke Note 36(e) [2013FY Financials] on you :scared:. This adds back in another $6M1 to your 2h13 figure.
But you are not so I will not :).
I understand that Snoopy is busy staring at the 'Significant Reduction in Non‐Core Property' slide of the Acquisition Presentation and trying to find an interpretation that fits his belief.
Best Wishes
Paper Tiger