Not forgetting that going forward from January 2014, another $8mio is now going to the bottom line ( annually )as no longer any interest to be paid on 8% convertible notes, plus other non core assets sales to settle, half year result very ordinary.
Next six months you can see that profit will lift. A plan is in place, capital is being released, there has been an increase in overall retirement sales volumes of 36% to the highest level in the last five comparable periods and presumably still strong ?
"Aveo has set a target of delivering 200 new retirement units annually by FY16, extending to 500 new retirement units annually by FY18 ". Given the restructuring, I believe most of us would like to see this accelerated.
AOG Price at posting:
$2.17 Sentiment: None Disclosure: Held
