Overview:
Looks like the turnaround continues at a slow pace. Downside risk appears low to me. However, I wouldn't expect a re-rating given financial results and future guidance.
Summary:
Improvements in EPS and NPAT (up ~20% from 1H16 to 1H17). Largely due to continued cost management, which should continue with an expected $30m cost reductions by 30 June.
However, revenue is flat (down 3%). Going forward, CWY are focusing on customer growth from better market penetration, organic growth and small acquisitions. But they say that earnings outlook remains unchanged for FY 2017. Thus, expected gains from customer growth strategy appear limited for the next 6 months.
Debt has increased from $326m (Dec 2016) to $311m (June 16). Gearing ratio now 15.3%, up from 14.9%.
Overview: Looks like the turnaround continues at a slow pace....
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Last
$2.89 |
Change
-0.010(0.34%) |
Mkt cap ! $6.422B | |||
| Open | High | Low | Value | Volume |
| $2.90 | $2.90 | $2.87 | $1.949M | 675.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 47 | 65948 | $2.88 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.89 | 20626 | 33 |
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| Last trade - 13.18pm 02/10/2024 (20 minute delay) ? |
| CWY (ASX) Chart |