yes Klogg, I knew that - in fact todays release says cash balance is $114M.
But last guidance they actually stated that the FY17 dividend would be 2 x 11c - the same as last year - at a time when they thought profit would be much higher. Today they have in the same step downgraded profit and upgraded the dividend, which comes across as a somewhat mixed message. Maybe they wanted to make up for the embarrassment of the downgrade and gave shareholders a sweetener to temper the bad news. All positive of course, thinking of the shareholders, but still a mixed message.
Gosouth
SRV Price at posting:
$6.06 Sentiment: None Disclosure: Held
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