Originally Posted by
LaserEyeKiwi
It’s all relative: despite the National lockdown and extended Auckland lockdown, first half net profit at “above $40m” is on par with first half 2020 adjusted earnings ($46m), and well above first half 2020 actual net profit ($29m) of which had basically no COVID impact.
Without the COVID lockdowns and COVID impacts on COGS, net profits would have surely been a lot higher.
The question an Investor needs to ponder is how likely will similar COVID impacts occur in the future, and whether one has the stomach to hold through those periods for conditions (& profits) to return to normal.