Hi Fiscus,the price paid for the 3.165 mn parcel traded today...

Hi Fiscus,the price paid for the 3.165 mn parcel traded today was 73 cents a premium to recent pricing, so obviously a buyer was confident and saw value to step up and pay higher than the recent average (a good sign I think).
This company is really in the hands of the top 20 holders so we should see a substantial notice filed on this trade, but of course that will come after the Half yr results on Thursday.

GS have estimated $5mn half yr NPAT - full yr EBIT $27mn and full yr NPAT at$17 mn - Norfolk stated it expects full yr EBIT in excess of FY12 (30.8mn) but NPAT will be impacted by 1st half result (expect 4 -6 mn versus pcp of 9mn) - FY12 NPAT was $22.1 mn and at the AGM it was updated in managements forecast to be at least a 10% NPAT growth, which would =$24.3mn for FY13, so we will have to wait and see.

NFK are trading at a large discount and this parcel traded today should be viewed positively.
I have heard a whisper re "special dividend being announced on Thursday or if not soon after. My thoughts were "where from?" possibly from the cash portion of the TAX credit & refund, I think that was around $10 or 11mn and if paid out will also improve the ROE.
Also via Maui Indigo Fund meeting it was mentioned that Norfolk were targeting $10mn cost saving through mergers, if this proves correct then this will also be a strong positive. But I imagine with the merger only just occurring this will be forward looking? but still very positive.

One last point I picked up on (a bit of second info/ hearsay?) was that the NFK management were apparently very surprised at the very harsh overreaction to their share price after their August update, and I think this was due to the fact that they had stated EBIT would still exceed that of FY12 thus giving comfort to their AGM forecast of at least 10 % NPAT growth for FY13 and as I have mentioned above the lower 1st half NPAT result would be subtracted from the expected higher NPAT result (min of $24.3 mn) as opposed to the FY12 result (22.1 mn) but with the SP at 69-70 cents the market has currently priced in for a much lower result than what i suggest here.
NFK earnings are heavily slanted to second half (historically)