'Mr Market' may not like the 94.4 per cent cut to the dividend compared to last year, which is down to A$0.005 cents per share, but this was arguably priced in.
Despite the increase in debt to A$267 million that the company says is at the top of its range, this is a reasonable result.
Page 10's mention of Australian price increases for ING products to be reflected in its FY 23 results confirm my experiences shopping at WOW and MTS' IGAs. These price rises seem to have occurred in two steps.
Chicken consumption is continuing to rise as red meat prices remain elevated.
ING is recovering but to use a medical analogy, some weeks in post-operative care remain ahead.
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