NPAT a little soft in comparison to EBITDA but can be attributed to more tax and doesn't look overly concerning. EBITDA in line with what was flagged in the recent market update.
Overall looks a solid result! Good growth in utilities, improvement in balance sheet to a solid net cash position (looks primed for an acquisition with the undrawn loan facilities)
Probably the best sign was the outlook suggesting that revenues should remain resilient - no warning of a drop due to fall in NBN revenues not being offset.
Will be interesting to see how the market reacts after recent SP weakness.. maybe some contract/acquisition announcements needed to give it a kick back in the right direction momentum wise.
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