I agree that we will need to wait until the FY result to answer all our questions. That said, if we assume that EPS in 2020 will be the same as 2019 (3.8cps), and that Q3 EPS was the same as the average run rate during H1 (about 1.1 cps per quarter), then the Q4 result would be an EPS of about 0.5cps. While this looks like a big drop (and it would be), a more positive view is that this business is continuing to be cashflow positive during the COVID lockdown period. Accordingly, any concerns regarding cash burn etc should disappear, and the FY dividend is a good vote of confidence from mgt.
ASH Price at posting:
32.0¢ Sentiment: Hold Disclosure: Held
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