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PAC

0.18%

$10.91 pacific current group limited

Apologies Greg/Lost I had used Morningstar data for half yearly...

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Westwind

679 Posts.

114

27/05/21

08:35

Post #: 53444945

Originally posted by gregfloorworld ↑

Hi Westwind ,Lost.

Just a couple of notes on profit and div forecasts.

1HY profit was 23cps not 28,mainly due to $5mil less in performance fees. Management suggested some of this was a timing issue and would be received in 2HY. Let’s hope.

Agree with Lost that GQG will contribute extra revenues. Other boutiques just starting to build momentum,if not additional revenues this year certainly next.

l still think 2HY Earnings will be between 28 and 32cps. FY 51cps to 55cps with any contribution from VPC(VIH) coming next year.

As for the dividend. Management has stated that they will maintain a minimum payout ratio of last year 70%. My thoughts are they will give us a 2H Dividend of 30cps bringing the total to 40cps. Another 5cps extra a slim possibility. If for some reason profits don’t come in where we expect and are under 50cps I think they will increase their payout ratio and maintain the same dividend as last year.

Greg.

Expand

Apologies Greg/Lost

I had used Morningstar data for half yearly earnings

Earnings Per Share (cents)

1 Period Ending 1st Half 2nd Half Full Year

2 2021-06-30 28.9 -- --

They sometimes do adjustments for abnormals which must have been the case in 21HY1. Should have gone back to PAC report.

	Earnings Per Share (cents)
1	Period Ending	1st Half	2nd Half	Full Year
2	2021-06-30	28.9	--	--

PAC Price at posting: $5.45 Sentiment: Hold Disclosure: Held

2 Upvote

0 Great analysis

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