Somewhat. But then look at some of those addbacks.......amortisation of intangibles.............including purchased customer lists. And it's a decent hit to the P&L.
Yeah, it's dead money. But they're not reaching into their pockets for it every 6 months.
What I did like seeing in the last report was an NTA per share. Says to me the health is improving, and when you take out the fluff like amortisation charges, continuing cash profit is only going to make that NTA (and the group) healthier. I want stability first, and will worry about shooting the lights out later on.
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Somewhat. But then look at some of those...
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