When a CEO complains about competitive market conditions and about affordability constraints affecting the products and services of such a company, and yet the CEO still expects profits to at least be maintained, or bettered, compared to the very strong period in which Underlying Operating Profit (UOP) has just gone up by 50%, then I suspect that says something about the sheer quality of such a business and the way it is managed.
And it is probably not lost on long-term followers of this company that the company was, this time last year, expecting UOP to be $85m to $90m.... somewhat lower than the actual achieved figure of $132m.
A similar sort of thing happened the previous year.
And the year before that.
No doubt, it comes straight out of the Corporate CEO play book, chapter headed:
"UNDER-PROMISE, AND OVER-DELIVER"
NHF Price at posting:
$4.73 Sentiment: Buy Disclosure: Held
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