Note though that this guidance was based on an expected exchange rate of 0.79USD per AUD for FY18 but the average looks like its going to be around 0.79 cents. That alone adds around 5% to the revenue and one hopes profit so even if they were going to come out at 240m at exchange rate of 0.79, with exchange rate of 0.77, they will come out at 246m.
Its a bit more complicated than that because they made this estimate at the half year results so I guess we should only be looking at increase in the revenue for H2. Lets be conservative and say the exchange rate averaged 0.77 vs 0.79 estimated in the 2nd half. Expected profit in 2H was 130 to 140m (110m profit 1H so thats whats required to get to 240 to 250m FY NPAT). With the change in exchange rate this becomes 130 x 0.79/0.77 = 133.4m to 143.6m bringing the full year guidance to 243.4m - 253.6 million. So even though the company hasn't announced it, we know that for the actual exchange rate, the company guidance is now 234.4m - 253.6m so I am guessing the institutions are going by these numbers.
COH Price at posting:
$203.76 Sentiment: Hold Disclosure: Held
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