If ASIC fine TGA and NPAT for 2nd half ends up being $10m, total...

If ASIC fine TGA and NPAT for 2nd half ends up being $10m, total NPAT will be $25m.

At 10 times earnings, that's $250m. The questions then become:
- Why would you rate it at 10 times earnings and include what is obviously a one-off?
- What other one-offs or similar expenses can expect to be removed once the ASIC investigation is done?

In this report, I see significant cost increases in employee costs and finance lease costs of sales... somewhat off-set by reduced impairment and D&A in the Consumer Leasing segment. This is my greatest concern, in particular the impairment charges.
Impairment has gone from 11.2m to 7.1m, without any justification. The book clearly grew, and actual impairments were $7.9m (Page 37). I know they had built in a fair bit of legroom by over-provisioning in previous years, but I don't like seeing them used without any real justification, especially when delinquency rates have risen.

Given the above, I would expect to see a price drop.

(EDIT: Meant to change sentiment to Hold)