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02-10-2020, 09:55 AM
#3611
Originally Posted by Sideshow Bob
It was a wage subsidy. Not a subsidy for anything else.
Nobody disagrees with that, but the subsidy criteria were based on expected revenue.
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08-10-2020, 01:55 PM
#3612
And another dividend has bit the dust
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08-10-2020, 02:06 PM
#3613
The Warehouse Group FY20 Unaudited Result and Dividend
8/10/2020, 1:28 pmMKTUPDTE8 October 2020
The Warehouse Group FY20 Unaudited Result and Decision on Final Dividend
The Warehouse Group Limited (“the Group”) today announced its preliminary unaudited result for year ended 2 August 2020.
The Group delivered sales of $3.2 billion, up 3.3% on FY19 or 1.5% when adjusting for FY20 being a 53 week year, compared to 52 weeks in FY19. Group sales in the second half of FY20 were $1.5 billion, up 4.1% on FY19 but flat when adjusting for FY20 being a 53 week year.
The Group full year Reported NPAT was $44.5 million, down 32% on FY19. The Group Reported NPAT includes $67.8 million received in wage subsidies. If Reported NPAT is adjusted to exclude the wage subsidy, the Group would have a made a loss of $4.3 million.
Given the loss prior to the wage subsidy, as well as the continued uncertainty around economic activity and trading outlook, the Group Directors have decided not to pay a dividend for FY20. Subject to trading over the critical Q2 period and any further alert level restrictions and adverse economic impacts of COVID-19, the Group hopes to return to paying dividends in line with its Dividend Policy for FY21.
The Group ended the 2020 financial year with a net cash position of $168.1 million, as a result of strong working capital management and robust trading conditions following the first seven week COVID-19 lock-down period. As the Group returns towards a more normal level of working capital, the net cash balance has reduced to approximately $80 million.
Adjusted NPAT was $80.7 million, including adjustments for unusual items of $36.3 million (after tax), up 9.0% on last year.
The Group’s audited result for the full year ended 2 August 2020 will be released on Thursday 15 October.
ENDS
Last edited by Sideshow Bob; 08-10-2020 at 02:08 PM.
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08-10-2020, 02:53 PM
#3614
Bugger no divie for a while
They got to pay out the $68m wage subsidy to shareholders sometime .....otherwise they not playing the game eh
Last edited by winner69; 14-01-2021 at 09:06 AM.
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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08-10-2020, 03:04 PM
#3615
Given that WHS is being used as a political whipping boy over the wage subsidy, the absence of of a dividend is no surprise - in fact I would have been very surprised if they had paid one.
Need to see the full accounts but I do like the net cash position in the current environment.
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08-10-2020, 03:08 PM
#3616
Ouch !!! Profit slashed, dividend wiped.. what will the contenders for PM and the know it all NM say now?
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08-10-2020, 03:27 PM
#3617
Was profit $44.5m or $80.7m or the $4.3m loss
The only thing that’s not confusing is dividend is ZILCH
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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08-10-2020, 03:29 PM
#3618
Member
Do the right thing and the market don't like it
Do the wrong thing and the market don't like it
Can't win either way
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08-10-2020, 03:36 PM
#3619
Originally Posted by traineeinvestor
Given that WHS is being used as a political whipping boy over the wage subsidy, the absence of of a dividend is no surprise - in fact I would have been very surprised if they had paid one.
I am pretty sure politics have paid a part in this. Oh well, those on their high moral horses will be really happy.
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
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08-10-2020, 03:39 PM
#3620
Originally Posted by winner69
Was profit $44.5m or $80.7m or the $4.3m loss
The only thing that’s not confusing is dividend is ZILCH
Obviously the true NPAF (Net Profit After Fudging) is $32.0M [remove the subsidy (profit) as that was unusual and remove the unusual (loss) because they usually do].
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