Yes, rising interest rates will have little impact as most debt is fixed rate lease finance and I assume they will pay of the floating rate bank debt (bbsy plus 2.7%) as soon as possible. They only had $7.7 million in bank debt at 30 June and just over $42 million total debt. They seem to be paying off $4 million debt a quarter at present, though some of that might be maturing lease debt.
Looking at Morgans forecasts I would guess NPAT of 3-3.5 cps in FY23, which probably allows a 2cps dividend (guidance is up to 75% of NPAT, but I assume they will pay down bank debt up front).
So a PE near 11 and yield of 5% plus. The real payoff is next year when debt should be well down, EPS should be over 4 cps and the dividend 2.5-3 cps.
Probably not much share price movement until the announce the half year profit and dividend.
Yes, rising interest rates will have little impact as most debt...
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Last
42.0¢ |
Change
0.020(5.00%) |
Mkt cap ! $89.70M | |||
| Open | High | Low | Value | Volume |
| 41.0¢ | 42.0¢ | 39.5¢ | $26.95K | 67.13K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2500 | 40.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 42.0¢ | 33924 | 2 |
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| Last trade - 16.10pm 10/05/2024 (20 minute delay) ? |
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Last
41.0¢ |
Change
0.020 ( 3.80 %) |
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| Open | High | Low | Volume | ||
| 40.0¢ | 41.0¢ | 40.0¢ | 12962 | ||
| Last updated 15.37pm 10/05/2024 ? | |||||
| MSV (ASX) Chart |