Guidance
August 2023: (at the FY2023 full-year announcement): "PBT between $550m and $605m"
Feb 2024 (with the interim result): "PBT in the top half of the $550m and $605m range"
April 2024: (Q3 update): "PBT upgraded to the top end of the $550m and $605m range"
Actual PBT Result:
$608m
They are making a bit of a habit of this.
Guidance for FY2025, for PBT of $640m to $700m, implies growth of 10% (at the midpoint of the range).
Given the strong fund inflows, coupled with the good Cost-to-Income momentum, this little pilgrim will accept wagers that this guidance, like the past 2 years, prove to be light-on.
While they manage what is really a black box, they certainly appear to be running it better each year.
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CGF Price at posting:
$6.88 Sentiment: None Disclosure: Held
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