yes, belted today and unreasonably so. clearly looks like an insto is getting out hence the huge volume.
it was mentioned a while back that NZ and delays to projects because of economy would contribute to a poorer 1st half. looks like they've taken steps to implement cost savings that will be felt in future years. i personally think things are set up nicely.
once insto exit is out of the way things should settle down - i've been happily averaging down. if we look at an NPAT of, say, a conservative 15M (EBITDA 27-30) or around 10 cps - the pe is at 2 which is ridiculous and there should be a final divi so yield looks unbelievable!
like the UAE jv move and ODG is going great guns.
NFK Price at posting:
19.9¢ Sentiment: LT Buy Disclosure: Held