My general thoughts for the full year are:
- Increased production coming on line around now will increase revenues (and expenses)
- Egg industry over production will crimp margins a little from the previous full year.
- Debt to be reduced further, and with major capex completed the company will be producing more cash than this year.
- Hoping that base salaries aren't increased further. A 25% pay rise last year was generous enough. If the results come through with maintained / improved margins, I will be be ok with additional bonuses going to Bruce. One fewer directors (at least for now) will offset costs somewhat.
- Company to sit on cash, but it would be nice for them to deliver a small one-off dividend. They already have $5M in franking credits piling up.
But, this is a nearest to pin competition for the HY. I'll admin Didak I don't do P&L modelling as you do, just more general estimates (I mean guesses).
HY Revenue guestimate: $49M
HY Expenses guestimate: $45M (A little up on last year)
HY Earnings guestimate: $4M
FRM Price at posting:
$1.50 Sentiment: Hold Disclosure: Held
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