This half year result won't be good, as all the goodies are implemented late in the half or commencing this half. But the bad result should have been priced in, given the company has telegraphed the continuing weakness in the ad market in the AGM and the ad market weakness is widely reported.
So the important bit is about their forward statement/outlook, the trading for the Jan-Feb period, and the performance of BVOD. If this improves, then I think it will go higher. Any if any mention of dividend, no matter how tiny, is on the card, this can go up substantially.
I mean how low can this go? This is still a profitable company, trading extremely cheaply and has a pole position, with a growing digital audience, and exclusive sports rights locked in for many years. If it goes lower, I buy more.
SWM Price at posting:
16.5¢ Sentiment: None Disclosure: Held
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