Well done?
If you take the revenue of the Australian appendix (first full year) out of the picture, than revenue (268m) did hardly change compared to last year (NZ slightly down, AU slightly up, but profitability down) - and certainly ended somewhat below anyway subdued analyst predictions (272m).
EPS (8.8 cents) did as well under perform compared to last year (10.5 cents) and compared to analyst expectations (9.4 cents).
NTA is basically naught (but this is not new - just what too much goodwill on the balance sheet really means).
If you call this "well done" How would a bad result look like?
Outlook for next year sounds like shareholders will be lucky if its not worse than this year.
Not quite convinced they reached already the bottom ... at least it might be worthwhile to wait until they found a new CEO and (s)he had time to tidy up the closets from the remaining skeletons ...Chair Peter Griffiths said: “Future market conditions are always difficult to predict, but we expect activity in
New Zealand to remain close to the current levels for the coming 12 months, with further Canterbury declines
being offset by growth in other regions.
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