Charchar
I respectfully disagree !
I have read those rpts !
AGM preso (18th Nov)
FY15 YTD Utilisation85%
next:
Net Profit after Tax of $53.9 million and Earnings per share of 18.8 cents per share. Excluding the impact of the Jaya acquisition, the Company recorded NPAT for the year of $58.3 million, down 3.3% on the prior year and EPS of 25.1c, down 6.7%. Jaya’s contribution to earnings in FY14 was minor given the timing of settlement which occurred on 3rd of June 2014
if you annualise the Jaya numbers - you get 35.6m FY ....
pg 14 - trading update .........
then the HY results ..."things are OK, but slightly lower " ..... (tray and back out the international operations)
then the May 2015 trading update ......(large fall in both utilisation and day rates) .....
the oil price was falling from August onwards (+/1 month) ....
ALL THE WHILE - some of the insto's have lent stock out, and the shorters have made a killing ..........
I most certainly do not wish people to sell........I most certainly think this is a "turn-around" play (12-24 months) ......
also imho - there will be a writeoff ......
the divvy will be cut
they "may" raise capital (if they acquire company / assets)
this will enable the shorters to get out / close out.....
anyways - this is on my "watch list" and I will try and think abt the drivers in more detail ....
kind regards
V_H
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