While I don't necessarily agree with Retail falling off the cliff your two points are spot one and I would also add that the SP has included growth from the acquisitions made over the past few years. While EBITDA is up a reasonable 11%, NPAT (EPS) falls short of expectations. In my mind this is a good solid performance in difficult conditions but doesn't warrant an uplift in SP.
AX1 Price at posting:
$1.60 Sentiment: Hold Disclosure: Held
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