2013

Ok, now 2012 is over, lets look at the projected results.

1. NPAT should come in at circa $950 million.
2. EPS should equate to circa 80 cents
3. Based on 70% payout ratio,I suspect final dividend to be around 15 cents per share, with total for year at 55 cents
4. Aussie summer benign so far so looking good for 2013.
5. Fiscal cliff averted for another 2 months should see short term spike in equities and drop in govt bonds leading to higher yields.
6. Mngt forecasts will again target over 12% insurance margin equating to over $1.5 billion NPAT.
7 2013 earnings forecast will start at around $1.25 a share. Should see share price quickly shoot up to $14 within a few months. A relatively benign 1st half and we could be looking at $16 by june 13.

Guys, a really good opportunity to buy into a quality business at the bottom of its cycle.