Thanks EG, good to hear CR won't be too big which makes it more impressive and in this low interest rate environment no need to wipe out debt. I also like how they are viewing paying their dividends as a DRP as a way to reduce debt and in effect a CR as I figured this would be lumped on top.
I believe the $21 million NPAT ($30 m NPBT) guidance was excluding all integration costs from memory?
"In FY15 we expect to generate pre-tax profit of $30.0m, including a partial period contribution from synergies and excluding one-off integration costs." 8/07/2014
However I also agree with added sales growth, improved ED margins would not surprise me to see normalised earnings closer to $25m in 2015 and $30m in 2016. Plus with a full year of synergies add $6.5 million more of cost savings on top so low $30 million NPAT is possible.
I do agree $1.2 billion is possible and they will want to surprise the market come June next year and create upward share price pressure. I am more bullish based on the feedback EG so thanks very much for this, hopefully the market wakes up soon to the inherent value in this one.
Was the fluctuating AUD mentioned at all?
DDR Price at posting:
$1.65 Sentiment: Buy Disclosure: Held
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