When covenant ratios are at like 98%, there is a high risk of a raising (as has been proven by the company). Instos would be considering this risk.
Bringing the ratios down to say 92% is a positive.
+$17m for the HY can change the ratios by 1.5%. 92% to 90.5% for example.
Or as an example, if the company decided to pay dividends (unlikely right now), $17m would be like a 25% dividend for the half year.
I guess the HY did not mention cash profit (NPAT would be more influenced by accounting rules for provisions). Wait 1 month for the annual report for that. But I'm thinking change in net assets will be somewhat reflective of cash profit.
And the change in Net Assets this half was a step up from prior halves. If that is reflective of cash profit, then it's on a strong positive trajectory.
Ann: 4Q24 Trading Update - Growth and strong loan performance, page-24
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Last
12.0¢ |
Change
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Mkt cap ! $96.00M | |||
| Open | High | Low | Value | Volume |
| 12.0¢ | 12.0¢ | 11.5¢ | $6.846K | 57.32K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 61429 | 11.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 12.0¢ | 131893 | 3 |
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| Last trade - 15.57pm 11/10/2024 (20 minute delay) ? |
| MME (ASX) Chart |