I wouldn't get too caught up in the $486k. The $340k is the...

I wouldn't get too caught up in the $486k. The $340k is the number attributable to the shareholders of AFL. Also it is a pretax number so NPAT attributable to AFL shareholders is $255k (assuming 25% tax rate). So the annualization is an NPAT of $1.02m or circa 1.3 cents per share.

So if there is a bit of growth (and taking into account the slow period of the year) then maybe NPAT eps of 1.5 to 2 cents per share which would, in my very humble opinion, be a good outcome.

That said, I also note that the CFO/COO remuneration is set on net profit before tax attributable to the shareholders of AFL (refer 2 March 23 announcement). For FY 24 the hurdle is 3.0 cents per share. Or a net profit before tax attributable to the shareholders of AFL of $2.280m (or $570k per quarter). This relates to NPAT EPS of 2.25c.

If AFL achieves what the CFO/COO requires to meet his performance hurdles in FY 2024 (and beyond) I will be a very happy investor. Today's announcement is a good start in a journey that goes in the right direction.

Note: above is based on 76m shares on issue.

Best

BSP

NFA, GLTAH, DYOR, etc.