- It was expected profits would decrease by 15-20% - they decreased by 14%.
- FY15 was expected to see increased NPAT by 5-10%, management now state 10%
- Final dividend was expected to be maintained at 4cps (some expected a drop) - it was increased to 5cps. Total dividend = 9cps.
At $1.37, gross yield is about 6.6%.
Going by the outlook statement and today's figures, forward earnings are about 14.3cps (yes, this is only guidance and things can change). Given it's trading at < 10* forward P/E with a substantial net cash balance of $10m, I'd argue it was over-sold, and this is just the realisation of this.
Of course, I'm only speculating on short term movements, which mean nothing.
The overall health of the business is great, although there is the hit to earnings as a result of the Mythbusters cut back.
