IMO Australia will avoid a technical recession (due to the resource sector) but will have a 'patchy recession' in certain sectors such as construction, financial services or tech & therefore certain States (VIC/NSW) will see a recession & others won't (WA/QLD)
The impact on SVR bad debts will therefore IMO not be as harsh as that has been factored into the share price & in fact due to the impact of rising interest rates being factored into new SVR loans we will see a strong rebound in profitability. Athough maybe not as fast as SVR thinks with it's return to historical profitability in FY25.
The share price seems to be reflecting the business performance in the current year rather than future years, which IMO is an anomaly that investors should be taking advantage of.
SVR Price at posting:
$1.13 Sentiment: Buy Disclosure: Held
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