I have adjusted my little pricing model based on the limited information made available. Bit of a messy process as (a) this latest update states pcp profit as $10.4mio but their report for the period states $10.9mio, Also they have 4.7mio shares on issue.
On the basis of comparing previously stated pcp NPAT of $10.9mio and eps of 15c things are still going backwards. In fact I have eps down to 10.9c or down over 25%.
Margins continue their multi-year decline, for example the NPAT/Sales falls to about 5.7% compared to 7.1%
Having said all that I am looking for a half year dividend of 7.5c, and full year (a revised) 12c.
A point of note from the market update is they state "....in conjunction with a decline in FX rates during the current period will result ........." Unless things have changed, MCP has a policy of covering their FX exposure 6 months in advance. As such the current period FX needs were already covered and the present FX rate should have no bearing on the reported results.
All that said I reckon MCP offers reasonable value at these levels
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Last
40.0¢ |
Change
0.005(1.27%) |
Mkt cap ! $57.57M |
Open | High | Low | Value | Volume |
39.8¢ | 40.0¢ | 39.5¢ | $98.71K | 246.7K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 41870 | 40.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
40.5¢ | 18000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 41870 | 0.400 |
1 | 19 | 0.395 |
6 | 48541 | 0.390 |
2 | 23000 | 0.385 |
2 | 20700 | 0.380 |
Price($) | Vol. | No. |
---|---|---|
0.405 | 18000 | 1 |
0.410 | 7268 | 1 |
0.415 | 48193 | 1 |
0.420 | 126133 | 2 |
0.430 | 5021 | 1 |
Last trade - 15.59pm 06/09/2024 (20 minute delay) ? |
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