Sorry sport, I don't understand your comment?
Are you suggesting I should buy shares in this company based on the observations I made?
Not hard to understand why you're having such a tough time of it!
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AGM Preso
http://nzx-prod-s7fsd7f98s.s3-websit...234/406655.pdf
EBITDA down 29% for the 1st 4 months of this year, on the corresponding period last year.
It shouldn't take the deflating of a commodity bubble to provide the evidence that earnings were unsustainable...should have been evident enough when earnings (& margins) shot up when steel prices inflated
From april 2022...
Whether it be steel, freight, retail, etc...always interesting how the market is surprised when a bubble pops.
I still believe Vulcan to be a very good business with a high class management team. I'm patiently watching the share though not committed to purchasing...the financial metrics at the current price don't do much for me.
Probably a little worse than expected.
NPAT down 52% on pcp
Last three 6 monthly NPAT has been 54m then 33m and last half 26m
But well positioned for growth
http://nzx-prod-s7fsd7f98s.s3-websit...062/412410.pdf
Rhys said at ASM that first 4 months EBITDA was down 29% on pcp
For the whole 6 months EBITDA down 36% Nov/Dec must have been tough
note .a few different EBITDA measures so maybe not apples to apples
STU is doing better.....no bank debts....$26m cash in the account n $11m ebit