GP margins have contracted and profit declined when your remove the gain on sale from the property. This was somewhat expected though with the new acquistion. However, I'm not sure the street thought it would decline that much.
Commentary on Australia looks fairly negative. Outlook for the rest of this half seems very cautionary.
Commentary on export markets looks pretty pleasing, which probably will be the long term growth driver anyway.
All in all, headlines result looks slightly disappointing, the mixed Aus/Export market outlooks probably land us at neutral. Market probably sells it off given current mood, but ultimately looks like business as usual fro ARB.
ARB Price at posting:
$38.41 Sentiment: None Disclosure: Not Held
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