Originally Posted by
Maverick
While the underlying profit is nicely up , just as anticipated, the earnings per share is only up 5.2% on last year. They seem to be always increasing the shares on issue.
fy17 -261 million shares ,eps.0888.
fy18-371 million shares,eps .0887.
fy19-414 million shares,eps.0933.
I`m very happy with the result as it was exactly where it should be but it is not as "amazing " as it first seems. To me its a great result as it indicates stability, predictability and steady as she goes over the industry.
Like all of the sector (especially the new boys ARV and OCA), it is a slow but sure journey that takes plenty of time. I`m happy ARV are doing just fine but the 5.2% underlying profit(per share) increase is not better than RYM 11%. Nor SUM 21% increase , although 5 months ago now.
By the way , I don`t accept the recent forums "adoptance" that SUM`s margins are failing, they certainly arn`t (at present ). I presume that myth has come from the CEO`s comments that they are ANTICIPATING a softening of margins, they haven't arrived yet. That will apply to everyone when/if they do come.