I should have said sales dropped by about five per cent, not 'seven' as above as MYR has fewer stores than was the case in FY 22.
'Mr Market' is unlikely to like this result as he's a grumpy fellow who looks six to nine months ahead and will be wary of MYR mentioning the 'current challenging environment.'
Traditionally, MYR makes its money in ! H that ends in January 2025.
Given the RBA may have no option but to raise rates further, this won't be welcomed by MYR, HVN, JBH, LOV and WES to name a few. The front page of 'The Australian' this morning has more details of the ongoing public spat between the RBA and the Albanese Labor government's Treasurer Jim Chalmers.
The latter individual is clueless and notably stayed silent (to be fair, Cabinet solidarity means he had to) when the IR changes were announced. Robert Gottliebsen in 'The Oz' has written a lot about this alteration to legislative provisions for casuals.
MYR Price at posting:
84.0¢ Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)