Hello all. I have just tipped my toe into APX and although the price has since fallen generally in line with the rest of the market I am happy to hold for long term. I note that earnings guidance given by the company is based on $A of 80c US. Given the exchange rate is much lower than that at the moment, I have been wondering whether that will be a positive or negative for FY18 earnings. Page 51 of the FY17 annual report gives some guidance but I am not sure if I am interpreting it correctly as it seems to imply that a 5% weakening of the $A would have had a negative impact of $2343 on FY17 profit before tax (not sure if that is $’s or $’000. Either way I would have thought that if the bulk of revenue was in $US then a weakening of the $A should be positive for profit. I would be interested in other opinions on this matter. Thanks in anticipation.
Ann: Full Year Earnings Upgrade, page-96
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