I recall speaking to the company's CFO after the previous update (20 May) and the indications then were that it was possible that some sort of employee assistance might be forthcoming in respect of the New Zealand operations (which, for context, accounts for roughly one-fifth of the revenue and profits of the company).
(The Australian business was still humming along reasonable nicely at the time, I recall.)
And what happened since then is that the NZ shutdown ended up lasting only a little more than a month, after which the NZ "jobkeeper" equivalent program would have been shelved.
So if there was an element of jobkeeper fillip to the result, I'd be very surprised if it was more than a few hundred thousand dollars. Certainly well south of $500k, by my gut feel.
So I reckon the second-half NPAT result, normalised for any jobkeeper assistance, would still be a lot closer to $5m, than $4.6m, which was the pcp number.
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SNL Price at posting:
$4.50 Sentiment: Hold Disclosure: Held
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