Today was a good day for BYL relatively speaking – SP jumped 3c, or 15.79%. The Interim Report is scheduled for 23/02/2016.
Most readers will recall that problems of an unresolved contract variation and an insurance claim caused a cash-flow problem at FY2015 year end, so BYL did not pay the expected 1.75c final dividend, but management promised to revisit the matter when the results for H1FY2016 were known. It is possible that a new Mainroads Project Update will precede the Interim Report, otherwise we must look to the Interim Report for an update on the matter of the contract variation.
If funding related to the two matters has become available, I am indifferent if the funds are used to pay a belated extra dividend payment, or used to reduce debt rung up to handle commitments pertaining to the $300m RIO contract. The SP improvement today may presage good news, but I for one am not in a position to know more than what has hitherto been announced – mainly that the insurance claim of $2.5 was successfully recovered.
There is little purpose guessing what FY2016 may deliver until the Interim Report gives us something on which to work.
