Ann: H1 FY2022 Results Presentation, page-6

Tend to agree with you. Todays results were mediocre on paper but not that bad all things are considered. lengthy lockdowns in Vic & NSW, the move to the centralized DC, the temporary increase in covid related staffing costs all adds up.... Without question a big contributor of todays sell off was the confirmation of no takeover approach having occurred, but surely where there is smoke there is fire?

This was trading at the $6-$7 pre covid when the annual EPS was around the 20 mark. (30-35 PE). Forecasted FY22 annualised EPS is 38 and at today's $6.50 SP is a PE of 17 which makes it seem like decent value.