The results were excellent. The only downer is that forecast profit growth is 15% which is well down from the usual 40% forecast.
BNB sp could drift lower. You would have to say in this market that 15% forecast growth is not enough when your dividend yield is 3%. Macquarie's is closer to 7%.
BNB
babcock & brown limited
fifty percent of its recent value vaporised, page-40
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