I was interested in your positive comparison of this years expected result with the result for the same period for last year. My understanding of the Job Keeper support was that it was passed to employees with the aim to keep staff "employed" and available as we came out of the lockdowns. I would contend that, therefore, idealistically, the same result (after tax profit) could have been achieved by standing the staff down and not accepting the grants. If my logic holds up then comparing this years expected result with last years adjusted result and seeing little difference is not quite right. I accept that, probably, standing the staff down and achieving the result they did in 2020 isn't likely but some tempering of the number ($3.2m) may be necessary for comparative purposes. I have no idea what that number ought to be. It's always a problem for companies with high margin contributions. So much of each years variations, good or bad, flow straight through to the bottom line.
SDI Price at posting:
94.5¢ Sentiment: Hold Disclosure: Held
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