They conservatively report underlying profit increase to give a fair comparative figure (+17.9%). The statutary profit rise was much higher at 50%. I like the inherent honesty in doing it this way - other companies would simply report the best number.
The cashflow statement really stood out for me. Highly cash generative - debt being paid off rapidly. These guys really are experts in retail they simply do a better job of it than others.
AX1 Price at posting:
$1.50 Sentiment: Hold Disclosure: Held
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