The Good 1) Record revenue of $1,174 2) EBITDA margin of 12% .. it needs to be over 14% 3) Positive operating cashflow of $118m
The Bad 1) NPAT - statutory of only $21m... There was a lot of effort for barely a breakeven profit 2) What was the profit contribution from the Mining West.. The purchase price was $136m. Was this a positive investment. 3) The write offs from closing Brazil and the losses from Bluff $4.5m 4) EPS of 6.2cps and DPS of 5cps.. This was a large payout
The positive for me was the positive cashflow.... I'm not sure if the low NPAT really reflected the years performance.
There seemed to be a lot of revenue for really low bottom line.
MLD Price at posting:
85.0¢ Sentiment: Hold Disclosure: Held