Results out.
Revenue up $589M
$13.95M NPAT
and a 2.5c dividend.
Well the profits were above expectations of $11-13M and revenue is looking great in a difficult hear. But... 2.5c dividend seems light on. Based on profit should have been closer to 3.5c or above.
I suppose the dividend is balanced with the excellent forecast they have for the next FY.
I am in too minds how this is going to go this morning, but I think I will hold for now. If they can increase profits as a percentage of revenues then FY09/10 should be a bumper year. This combined with all of the new activity in the NW shelf and around the country.
The company also needs to list its game with disclosure and updates. After reading about the pick up in order activity in July, August we need to hear about it.
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