This is a little disappointing, but not wildly so. First half EBIT down 63% on previous year which was already know, however second half also down 26%. Good to hear that margins have been maintained or slightly higher though. Earnings to be back at 2017 to 2018 levels at approx. 7c per share with a div of 3-3.5c. I wouldn't be surprised if this drifts back lower down to $1 or below until they can show that earnings resumes (which I believe it will) and recession fears abate (which I believe they soon will). Still, I am holding because I think this company still presents long term value at this price and this is not a trading stock for me, however I will certainly be keeping an eye out for opportunity to increase holding.
AX1 Price at posting:
$1.39 Sentiment: Hold Disclosure: Held
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