So ... AGI's profit for the year was down by 21% to $55.7m from...

So ... AGI's profit for the year was down by 21% to $55.7m from $70.4 last year. When excluding the effect of net foreign currency gains, profit was actually inline with last year ($52.4m this year vs. $52.5 last year). Revenue was up this year which is a good sign of things to come (as opposed to cost cutting). Underlying EBITDA was $95.2m, an increase of 12% compared to $85.1 m on the same basis last year. Also worth noting AGI incurred a one of expense this year of $4.1 m.

Bearing in mind expectations were low going into this report, I would describe this report as "a workman like performance" that exceeded market expectations. EPS announced was 17c. Market forecast consensus for 2016 leading into the report was 16c. This is a modest beat. Also, the DPS was maintained at 10c. Market forecast consensus for 2016 was a decrease to 9.7c. So this is also a beat.