A pretty soft but quick bounce off the low of 4.02 the morning, before settling back at levels around 4.15 (for now).
Even if you ignore the FX losses, growth compared to previous year would have been flat. Disappointing given all the acquisition activity of past few years. Although we have been spoiled by one-off revenue spikes. Perhaps this is a fair correction. Dividend yield is better at these levels but not great.
I am back under water but despite this miss I'm willing to consider topping up as the business model still seems solid to me, although I would like to see more strategies around managing FX risk? Might hold off til after ex-div to get lower prices. Although anything around 3.90 in the meantime would interest me.
IPH Price at posting:
$4.14 Sentiment: Hold Disclosure: Held
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