The original guide of $30m in PBT was excluding the $3.2m in redundancies, closures of leased premises etc. The recent announcement indicates the first quarter was circa 40% better than forecast, hopefully those EBITDA/PBT numbers hold through the final 3 quarters.
I won't go into too much detail here, I will mention DDR and my thoughts on the AGM in next weeks blog on my website.
Fluctuating AU$ was not mentioned. I don't think it's pertinent to valuation as all participants will have to deal with it. A weak AU$ does lift the underlying cost of goods, so theoretically could be good for earnings, with the risk that higher prices dampen demand - Eternalgrowth
DDR Price at posting:
$1.65 Sentiment: Buy Disclosure: Held
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