Beat forsyth's forecasts on virtually all fronts except the dividend... yesterday was the last day OCA will ever be below $1.50 some say. Could have borrowed more to pay a higher dividend, but nice to see net debt actually decreased.
Looks like yesterday wasn't the last day OCA will be $1.50... such a drop in dividend might be surprising for some along with selling heaps more but underlying profit not up much.
back at desk on monday , but a quick note i thought i would add it was a disappointing result , no div increase and margin erosion continues. i sold today.
sum is my preferred play in the sector.
We have not had time to go through the numbers but on the simple P&L increase in unit sales does not seem to have increased total half year revenue by a large percentage.
Perhaps someone with a comprehensive model can put forward the statement such as they met expected profit on units sold.
If they did meet expected profit margin on units sold then yes 1.5 could hold.
Bull just posted and confirms our view and Bull just profited again on trading the result..
DISC: we dont trade this stock but we see much bigger growth after this result in off shore travel stocks.
We have not had time to go through the numbers but on the simple P&L increase in unit sales does not seem to have increased total half year revenue by a large percentage.
Perhaps someone with a comprehensive model can put forward the statement such as they met expected profit on units sold.
If they did meet expected profit margin on units sold then yes 1.5 could hold.
Bull just posted and confirms our view and Bull just profited again on trading the result..
DISC: we dont trade this stock but we see much bigger growth after this result in off shore travel stocks.
i did say it would run up into result , i also gave a clue in a post about 1.50 were they fools for selling . anyway i post more next week when we are back at work
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