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Ann: Response to ASX Aware Query, page-29

  1. 73 Posts.
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    That's right there is no revision.

    What we have had (and a poster called Danbradster on here did point this out when he explained it wasn't apples v apples) is a FY18 guidance of c.6% underlying NPAT growth and this announcement earlier in the week was not a revision it was a trading update for 1H18 and compared it to results for 1H17. The statutory NPAT for 1H18 is expected to be down 11M on the same period in 2017 in part because of 7 million in one off costs incurred/recognized in November. The 7m relates to the Deloitte review and the decision to undertake this was made in November as well as losses made on selling some corporate property,

    They haven't revised the FY18 forecast and they do imply that 2H18 will be stronger because of

    "The Commercial Division, including food processing and distribution operations, is performing in line with expectation, and has secured new customer contracts largely commencing in 2H18."

    I think it' may be a stretch for them to still do the 6% underlying NPAT growth but only time will provide more clarity.
 
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