Wow - $500m NPAT would put a rocket under the shareprice
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Underlying profit is the accepted comparison metric as it strips out IFRS revaluations.
Underlying profit last year was $158m or 31.6 cps.
I think shareholders should be pleased if RYM can maintain their medium term target of growing the above at 15% per annum. That growth target would imply $181.7m underlying profit or 36.34 cps for the year ended 31 March 2017. If they can achieve that figure at today's closing price of $8.63 that would put RYM on a trailing PE of 23.75 If they confirm medium term guidance to continue to aim for 15% underlying profit that would put them on a March 2018 forward PE of 8.63 / (.3634 x 1.15) = 20.65.
By comparison - SUM by my calculations are currently on a underlying 31 December 2017 year PE of 15.75.
That cider is going to taste really nice on the ski slopes in Queenstown this spring Couta1 :)
I like to read reports when ima little tipsy, lets see how far off kilter my inebriated estimate actually is.
EDIT: 100M+ off, I need to stop mixing drinks and investing...
Hey Roger, I think we'll leave that cider for the Apres ski activities, can't have an intoxicated bean counter on the Q/town ski slopes. PS-Thats the most miserable closing price I've seen the day before a Ryman result.
Announcement this morning. RYM increase in underlying profit up a 'pitiful' 13%... here we go boys !! :eek2:
Ref: https://www.nzx.com/companies/RYM/announcements/301389
Good solid result with plenty in the pipeline, 13% growth in underlying profit might disappoint the market though.
They have heaps of work ahead so I like the result. Solid but the market isnt going to like that 13% today.