Agreed. When you consider the fact that the previous 6 months underlying earnings were US$40m, the increase in the bottom line is very significant.
In a full year (here's hoping) the net after tax effect would be something like US$600m, so about US$300m for 6 months. That would be an increase of 700% over this year's first half.
If you assume we only get the benefit of say, 3 months of increased prices in the current quarter, we should see underlying profit for this half year, going up by $150m, or about 400% on the first half (and prices are still going up).
So, we should see a little bounce in the next dividend, and if prices stay high (maybe we are in a commodities boom), then the next financial year will be very big.
S32 Price at posting:
$3.67 Sentiment: Buy Disclosure: Held
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