We receive approx. $10m per quarter in customer receipts - we will apply the rebates below to these receipts from 1 July 2024,
Will we be earning interest from holding 15m-20m for nine months? This could be worth 500k or even more, River Capital believes we do!!
It may well have been the reason for all the interest! pun intended. It could also be the reason for the profit upgrade.
LPE advises that it has received $22.4 million from the Queensland Government for the Cost-of-Living Rebate and $6.9 million from the Commonwealth Government energy rebate. These amounts will be credited against open LPE customer accounts from 1 July 2024.
From the last qtr. Interest received from last qtr. $296,000 (of which i suspect approx. $236,000 from 6 mill loan)
This was one of the negatives reported by River Capitol in the bidders statement:
Whilst LPE has provided profit guidance for the 2024 financial year, caution is needed not to extrapolate that performance into future years, given a material number of one-off items. These include interest received from the BioHub Loan, interest received on Government subsidies held on behalf of customers, and temporary wage savings from the termination of the previous CEO and Executive Director of LPE.
Klogg - "Either way, they'll be offset by an equivalent liability to account holders, and likely held in a trust of sorts."
I don't appreciate the brush off - Are you sure you are paying attention the the actual game here?
LPE Price at posting:
11.5¢ Sentiment: Buy Disclosure: Held
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