Don't want to rub salt in your wounds, but this report was a shocker. The only good news is the future is brighter and H2 FY19 will certainly be better.
In simple terms, BAL told the market we could expect $270m revenue at a 18% EBITDA margin or $49m EBITDA or $34m PAT less $8m for the stock write off. So a stat PAT of $26m.
That gives us a valuation of $520m for Mr Market. We are currently ~$730m. Expect big falls. I am closing my short at $7. Thanks for your contributions.
BAL Price at posting:
$8.07 Sentiment: Sell Disclosure: Held
