V. good result and long overdue for SH's after years of promises.
They do look cheapish at the moment based on FY21 performance - BUT, past performance tells us they're hugely seasonal and weather dependent.
Way too soon for me to trust their performance, if a poor grain season is in the future and their self described rev. boost due to Covid subsides, it'll likely be more of the same IMO. CEO was pretty coy about grain season impact on results during the call, my guess is it had a sizable impact. Could very easily go back to FY20 result in 22.
Anyone hear that brief line about a $2.5M provision for stock write down?? Wonder what that was in a huge revenue year?
Ann: 1HFY21 Appendix 4D and Half Year Report, page-6
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