Quote Originally Posted by trader_jackson View Post
Under 6.5 PE now, crazy stuff really... as it was pointed out on HC today... Capex was 24.6m last year, and is going to be 28 to 31m this year. So Cash NPAT this year was 90.3 take the increase in capex off that and we 84 to 87 against a forecast of 85 to 90. So capex accounts for pretty much the reduction. Not great when you want to see growth, but profit is not exactly skyrocketing downwards... yet here we are, the share price continuing to go down... man even the dividend is attractive again at over 5% (despite the large cut - to help fund growth - although I'm sure this will be lifted again in a few years time)
Sadly it is crazy indeed

Are your mates on HC having you on ...or grasping at straws to make themselves feel happier

Since when has Capex been part of Cash NPAT?

Cash NPAT trend is still F16 $94.1m F17 $90.3 and F18 $85m (maybe $90m ifyou believe in the tooth fairy)