Originally Posted by
BlackPeter
OK - firstly - apologise for me applying farmers gold on your posts ... it is better suited for our paddocks Good dung, though;).
On a more serious note - I guess the cynicism against TRA just got under my skin.
You mentioned the 87 odd million shares (despite this being absolutely irrelevant in the context of the HY result, but you mentioned as well that you (nice as you are) would not apply this number.
TRA had from March through to end of August roughly 74.5 million shares on issue and they issued some more August 31st and a somewhat larger number in miii7d September (this was the placement). Hardly relevant though for a financial result ending end of September - isn't it. Even the balanced number (though possibly mathematical correct) makes in practical terms no sense to be used for the HY results.
I put to you that any fair EPS would be based on the 74.5" shares - and investors would understand that the cost for preparing a placement do not improve the books ...
Anyway - yes, the HY was a bit soft but I think they positioned well for the time to come. However - patience is short these days (some want to see a return before the money is paid) and hardened investors need to have their fun as well, so let's not stop the upbeat.
At some stage when I feel it is justified I shall join in, but at the moment I am happy to wait.