Q3 was its first clean quarter post all the restructuring over the past few years. It made $2.6m (post interest) while its biggest boat, Drover was in dry dock for much of the quarter and there were some abnormal costs associated with the sinking of a live shipment from NZ to Asia (not Wellard’s ship). All of Wellard’s ships have remained active this quarter, so I reckon profit could easily be upwards of $4m. So US$6-7m this half = A$8-10m. Market cap is A$33m.
Ann: Appendix 4C - quarterly, page-22
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