ADH 2.28% $2.14 adairs limited

Ann: ADH FY2022 Results Presentation, page-18

  1. 519 Posts.
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    ADH actually benefited from the covid lockdowns as higher online sales with low CODB (no employee costs or rental expenses). As the economy open, it's struggling to maintain CODB% to Sales. Higher revenues YOY isn't from organic growth, but from acquisition of businesses. Maintaining dividend payout from LY with lower NPAT is a way to sustain SP for now, however not good for cashflow, likely using borrowed fund to pay dividend.
 
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