Great results. Interim dividend up 22% on PCP and NPAT up 27% on PCP. Payout ratio maintained at 60%. Results are roughly in line with October guidance with EBIT margin over 10% and revenue within guidance range when extrapolated to full year. At this stage $118M 2020 revenue target looks a doddle. Margins are so consistent over the last 5 or 6 years that if you can predict the revenue line accurately then much of the P&L falls into place (give or take a branch opening or two).
Ann: Forecast Dec 17, full year guidance and interim dividend, page-3
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