Wow.
Apart from $48m Stratton-related impairment, the looks like a very weak result, with core earnings having gone backwards during the half.
Not good for a security priced at close to 23x P/E multiple.
This is the first time in CAR's history that the business has been really tested in the fact of a weak macro environment.
I suspect a meaningful de-rating is on the cards, which should provide the opportunity to purchase this fine, +40% ROE business.
.
Ann: Appendix 4D and FY19 Half Year Report, page-2
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| Open | High | Low | Value | Volume |
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