They should be reporting sometime in the last week of february.
They have set expectations kinda low so it will be a bit of a disapointment if they don't meet them. But even though they still came in as predicted last time, and maybe even slightly better, the SP still got hammered.
If I recall correctly, the SP started heading south in the week or so before reporting last time. Maybe it is more of the same now. People getting out in the expectation that anything other than a stellar result will see the SP head south again.
I spent a little time looking through the annual report again and it appears that they stand to benefit from the rising Aussie. Normally this seems counterintuitive as they are repatriating US denominated curriencies for an Aussie but they appear to have some hedging in place and perhaps what is working in their favour is the set up costs for their expansion cost less with the strong aussie.
In any case, my best guess is that given 2-3 more years to finish and bed down the expansion, we will be seeing earnings well above pre GFC levels.
SRV Price at posting:
$3.00 Sentiment: LT Buy Disclosure: Held
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