If you write back the extraordinary Impairment costs from 2021 FY, this would have resulted in a Profit of around 8m. This results in nearly 89% increase in profits.
Their operations this year had a nearly 35% increase in revenues and a 55% increase in margin which is due to the price of oil obviously, but to achieve these higher revenues their cost of sales reduced nearly 7%.
It appears this company is very well run and improving. With oil prices likely to stay elevated and a weak AUD this is looking promising for the future.
Thank you for dumping on the minimal issues relating to GC21 I was able to buy cheaper.
Ann: FY22 Financial Results Presentation, page-19
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