Great post TheBigM. I agree 100%. Also noted by management in the earnings conference call transcript, Justin Mills said quote "However, we witnessed first hand that as physical stores reopened, online sales fell sharply". I reckon when vic starts to reopen stores again, then we'll see a mad rush to the shops again just like we did in late May and early June in Vic from memory and that's just human behaviour after a lock down I guess. Also vcx gearing approx 25%, so we are in the lower range of the 25-35% target band. CFO mentioned quote " We also undertook several other initiatives to preserve capital, including the deferral of all noncritical expenditure, which will continue in FY '21. Likewise, we will continue to be cautious with respect to our development pipeline, delaying and reviewing spend as appropriate". Also debt maturity profile is good up to fy 23/24 and by then things would have improved dramatically. sp way oversold currently and a bit to pessimistic i think. Still have some good upside potential and a relief rally in my view. Good luck all.
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9 | 107268 | 1.850 |
4 | 21533 | 1.845 |
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