Afternoon tea at Beagle's house
Attachment 9102
Relaxed possum, chillaxing on a Friday afternoon
Starting to have some reservations with this one.
Quote:
Originally Posted by
winner69
Beagle - higher depreciation expense as well as new capex comes on stream. Will increase a lot over the next few years (like $25m capex in F18)
What divie next year - AGM preso slide mentioned low end of policy range (so 55% of npata instead of 67% this year) ....and with that capex they'll possibly havevto borrow more to pay it
Anyway Beagle - shouldn't you be using their aspirational financial targets (slide 16 AGM preso) as a guide for F18
Yes good point on the capex and depreciation Winner. As noted above, this is a very very small part of my portfolio so doesn't warrant the full Beagle work-over and sniff test.
Regarding slide 16 - You tell me on this one mate, full of creative corporate speak or do you believe them ?
Did this weeks ASM effectively amount to an implied profit downgrade ? Is their talk of the need to look for efficiencies in the second half tantamount to admitting their expansionary plans haven't really worked ? Is the Australian acquisition EPS accreative and if not when will it be ?
Do the directors and management truly understand that growth without growth in EPS is useless and unless they're growing the latter they cannot be considered a growth company ?