Interim Results, page-6

I know the results aren't great but down 17 percent does look like an overreaction. I was planning on cutting my losses, but at 9.30NZD per share, its looking like a safe buy. Market cap of 1.65bn. I would say expected NPAT of 90 million. I feel like everyone has ignored the part where they said more profit expected in second half and the full year profit will still be higher than last year but not at the same growth ratel. FY18 vs FY17 was almost double. I think if the growth was going to be less than 10%, rather than saying growth will be lower than last year, something along the lines of we are expecting single digit growth would have been more appropriate. The fact that they compared to 95% growth last year implies growth is still strong.