.....perhaps the expected improvement of CEN's fortunes (and for shareholders)....aint gonna happen then.......cynical.....nahhh
CEN has responded to me...the fall is probably due to the Rio/Bluff story this AM....
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.....perhaps the expected improvement of CEN's fortunes (and for shareholders)....aint gonna happen then.......cynical.....nahhh
CEN has responded to me...the fall is probably due to the Rio/Bluff story this AM....
For what it's worth. From Macquarie today:
"Contact Energy CEN Outperform
Retail prices will defy wholesale gloom
FY12 result 14 August. CEN provided FY12 EBITDAF guidance of ~$500m (down from $520m+ at the FY11 result). Macq. is lower at $481m (consensus $514m)
We think an increasing focus on CEN’s FCF growth (x2 CPI) and reduced retail electricity margin pressure will be key drivers of MT performance.
Downside risks from higher cost-to-hedge, over-supplied wholesale market, index changes and competing MOM supply are now well understood by market. "
...thanks mac....do you think was scribed before Rio made that statement...
QUOTE=macduffy;378632]For what it's worth. From Macquarie today:
"Contact Energy CEN Outperform
Retail prices will defy wholesale gloom
FY12 result 14 August. CEN provided FY12 EBITDAF guidance of ~$500m (down from $520m+ at the FY11 result). Macq. is lower at $481m (consensus $514m)
We think an increasing focus on CEN’s FCF growth (x2 CPI) and reduced retail electricity margin pressure will be key drivers of MT performance.
Downside risks from higher cost-to-hedge, over-supplied wholesale market, index changes and competing MOM supply are now well understood by market. "[/QUOTE]
I could add a few more positives to that- more geothermal coming on line,cheap gas supply and storage,increased inter-island capacity and lower interest rates . They have also been accumulating high users and good payers .It will take time for the market to realise the stars are lining up for contact
results out today
2nd half should be much more profitable and annual result up 7% approx-I bought more yesterday -market overly fearful of losing aluminium smelter
sorry pt -but a much better than anticipated result nevertheless
i have always enjoyed waking people up
Profit Distribution Plan strike price has been set at $4.87.
With current SP at $5.06, I'll accept the bonus shares.