Unfortunately that is a little like the ABC Learning way of doing things. Just telling the market it's accretive and offering no further details. As it's debt funded they must remember interest rates will rise one day, will it still be accretive if their borrowing costs are 3-4% higher?
Is it accretive in FY14 or FY15? Given they have provided no FY15 guidance how can anyone really determine if it's really EPS accretive over as yet unforecasted EPS figures?
I had high hopes for AFJ when I bought into the IPO and still did quite well out of them. So far however I find all their announcements have lacked detail and as such am reluctant to move back to a larger shareholding.
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