HUM 1.16% 42.5¢ humm group limited

Ann: HUM - financial results briefing for HY ended 31 Dec 2022, page-57

  1. 268 Posts.
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    Overall I’m happy with the results. Growth in receivables looks solid, the end looks to be in sight for the exit costs from the products which are winding up which will boost cash NP.
    However the main point I’m looking forward to is the dividends being based on the normalised result, which should increase the yield and the SP respectively in my view.

    One thing I noticed is the receivables book increased circa $534M, however HUM only funded $418M of this through the warehouse facility, another $50M was funded via the corporate debt loan. Why would they do this?? This baffles me.
    https://hotcopper.com.au/data/attachments/5078/5078000-df603e456bf5fe56ccb2ff09cfe65dd8.jpg

 
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