Not a great result, really need to get a run on the board with a larger partner ideally from the US. In the outlook they also mention prudent capital management in relation to their dividend policy, I'm guessing the new chair has asked them to scrap the current payout ratio as she eluded to it when she first jumped onboard. Some might take a dim view of this (Aussies love dividends) but I mentioned before it would be great to see more cash invested into pursuing aggressive growth to justify its high P/E.
Ann: Half Year Results - Investor Presentation, page-8
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