A good outlook as normalised EBITDA is expected to increase in FY 25.
While the dividend of A$0.04cps is 33 per cent higher than FY 23's final dividend of A$0.03cps, in some previousyears the final had been A$0.055cps.
I haven't yet read the presentation but from the media release comments, the performance of BGA's branded goods was pleasing in FY 24 despite shoppers being value conscious given perceived high mortgage rates and ongoing significant inflation that is above the Reserve Bank of Australia's target range, with tertiary services in particular keeping inflation up.
The bulk segment remains a problem child, but at least its losses were only a fraction of BGA's earnings from branded.
Good to see net debt decreasing.
No doubt grumpy 'Mr Market' will find something to criticise though.
BGA Price at posting:
$4.26 Sentiment: Hold Disclosure: Held
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