Positive news, but most of these actions were already outlined in their Aug-21 presentation. Which is all good - to highlight that they have executed to plans. But also, shows how irrational / volatile the market can be. Since selling the EP1 stake (for a tidy profit), share price has been hammered hard.
The profit of the conditional sale of the Fibre business is 7.3c per share. Interesting that the end of the annct, the company forecast for FY22 is only 6-7c EPS. So implying a loss on the remaining 9 months. I suppose this is very conservative outlook, and potentially captures all of the restructure costs flagged in the FY21 result (a few equities staff that are no longer required).
Pretty incredible to have 43 cps in net cash (>50% market cap). I re-iterate my interest in a 50/50 share buy-back / special divvy. That is alot more cash than they require (operating costs are a tiny fraction of this), and covered by their mgmt fees/co-investment income.
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