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clock Created with Sketch. 20/12/24
14:09
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Originally posted by PortfolioPlus:
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A pretty crafty announcement this one. Sugar coated to 'dress up' a NPAT downgrade v comps. "CTI Logistics Limited advises that the profit before tax for the half year to 31 December 2023 is expected to be approximately 30% lower when compared to the previous corresponding period for the half year to 31 December 2022." D&A is up by S2.6m in 1H ...this is probably made up of a good percentage of what we all know is rent, until some bright spark accountant decided to change the accounting rules - but for mine, rent is rent...a full on expense - unlikely to fall in 2H by much (if any)Interest is up by $1m in 1H ...again unlikely to reduce unless they pay off some of the loan...interest rates have not come down.
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Interesting accounting ideas.
(20min delay)