BGR - Briscoes Valuation

[Muse]

Rod says NPAT to be between last years 73m and 85m

About this time last year BGR share price hung around the 570 mark ....NPAT 73m remember

Methinks the market is assuming that that this year will be about the 73m .... and nowhere near the touted $85m

As such the share price heading to 570 (maybe 580) - a price that reflects actual performance

Even then at 570 the of about 17 - and so could go lower .....maybe the market love affair with Rod is coming to an end

Only a few weeks before we get a pre release. time will tell on the NPAT figure. Briscoes has been squeezing margins well, the company had excellent stock coverage. My bet briscoes will be closer to 85 than to 73.

But I think that figure is largely irrelevant - how can it not be a high watermark for several years with cost inflation and interest rate rises eating away at demand. Omni blues too when it spreads, but wonder if that impact will be as bad as the lockdowns over the year just been.

So we all will be in search of a new set of near term or maintainable NPATs to value off of. FY22 npat will be critical for one last juicy dividend.

All retail is in for headwinds and not 30 cents worth.