I guess these three slides answer why he kept referring to capital management initiatives.
1. Organic growth 2. Inorganic "opportunities" 3. Match expenses to revenue 4. Progress capital management and use balance sheet for growth
Strong balance sheet to support growth and capital mgmt initiatives. Substantial franking credit balance.
There's a subtle nuance on this slide versus slide one. 1. organic growth (same as slide one) 2. Industry consolidation 3. Refine cost base (same as slide one) 4. Progress capital mgmt initiatives (same as slide one)
It reads like they are open to being acquired/merging to bulk up.
I guess these three slides answer why he kept referring to...
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