$12 million impairment NPAT $76-$80 mill.Looks ok to me considering where the s/p has sunk to.Mkt cap re$471 mill.
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$12 million impairment NPAT $76-$80 mill.Looks ok to me considering where the s/p has sunk to.Mkt cap re$471 mill.
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Love it when companies do strategic reviews and tell us to look forward to the new group strategy.
This is really not a good update, but what is worse is the way they announced (when, how, and after Mr Market had clearly known for weeks, arguably months - that is what FXL is being punished for this morning). Less than 6 months ago things were all good to go and the share price was at 230% higher...The reaction this morning is very much emotional and totally overdone but borderline understandable given there seems to be far to many 'one off' impacts (which, yet again, has resulted in most of the downgrade) so understandably the market (and myself) are infuriated. A fancy preso isn't going to help much this time and I suppose we'll find out more in a few weeks.
Does a $12m provision impact Cash NPAT? Is it just one of the adjusting items between Statutory NPAT and this thing called Cash NPAT?
Bit ominious when they use words like ‘below budget expectations’ and ‘slower than forecast’
You not losing the faith are you t_j?
I'm not quite sure... I am thinking this 12m is part of the 20ish m downgrade, but will soon see.
Faith is dented and running very thin now, but I'm not out yet.
You buy more at 97c? you'd be up 10% already if you did
A friend of mine left for lunch and missed out on making a quick doubt digit return, but hey, maybe in the longer/bigger picture it was good he left for lunch... time will tell
Maybe I should have left for lunch at 11:30am and not come back to the office
Not that much damage to the share price today .....probably close not much differentl from yesterday’s close
But some made big bucks today ...and some no doubt crystallised big losses.
Certainly is shaping up to be a game of two halves... although I was in neither half.
I thought anything above $1.10 would be good... it is worth far in excess of $1.10 even after todays regrettable announcement, but I can understand the fury and swiftly negative reaction against FXL in the way and nature it was announced.
One thing is for sure, Private Equity will be swirling more than ever before around this former market darling at a 6 month forward PE of less than 6.