Champagne brunch though ....go nicely with the scallops
Printable View
See it was more than $525m
Guidance just as good as Fletchers - both spot on
I'm having egg on face for breakfast today....I'll be busy cleaning my face and fur for hours with my profit prediction the other day.
First impressions is I am disappointed with the result but it is pleasing to see they are confident regarding their outlook for FY18 for an improvement on this years result.
https://www.nzx.com/files/attachments/264094.pdf
I dont hold any shares in this, but at first glance across it I am quite heartened to see that they are paying a bonus to staff that dont have a bonus as part of their employment agreement. Happy well treated staff will always help towards a well performing company in my opinion. Still, the fat cats at the top get all the cream as usual I'm sure.
Agreed - slightly disappointing at first as was hoping to further exceed the $525m but promising outlook which is key. Hopefully they have absorbed costs in advance for FY17 to give them a good take off into FY18.
Anyone care to share their share price expectations given the update?
quote - the airline is aiming to improve upon 2017 earnings.
On current forecasting record that means operating earnings of $535m - 2nd best in history
Result underwhelming to say the least
So that's the excitment gone for a few more months
At least another cent on the divie
They do talk about seeing FY17 as being a sustainable earnings base for future growth so obviously they see this second highest profit in the airlines 77 year history as something that's buildable upon, sort of a low in the cycle due to the intensity of competition...On a real quick look it looks like this is pretty much bang on the money with average analyst expectations and average analyst expectations for FY18 are for ~ $550m before tax.
I think I got caught with the adverse FX movement which cost them ~ $100m this year. I see they're really well hedged on oil and FX going into FY18.
As you say Winner at least they tossed us a small bone with an increase in the final divvy. 21 cps fully imputed gives 29.17 cps gross which is an 8.58% gross yield plus expected specials in due course. Very pleased to see their gearing at 51.8%, (down from 55.9% at the half year point) coming down towards the middle of their 45-55% range. Looking forward to special dividends starting potentially in FY20.
We should be very pleased with a total shareholder return this year of 88% and the second highest profit in 77 years despite 10 new carriers entering the market.
Demonstrates the strength of their business model in a challenging competitor environment.