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19:42
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Originally posted by Burgerbuns:
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Your posts are always in depth and excellent.3 months ended Sep 30 figures as opposed to the nine months ended Sep 30 figures for Net Income, basic & diluted EPS. Not that it really matters, because the difference is huge and goes to illustrate that it's a tough market and possibly a contributing factor to CCP over paying. I believe that you're spot on with your remark about CCP attempting to 'elbow' it's way into the US market. The fact that CCP seemed to replicate in some way past events is a real concern and you addressed this nicely.
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The investment case for CCP would be based on "looking through" the next period and having a guess at what NPAT might be on the "other side". I would guess that FY25 would be in the $100m+ region, especially if rates are cut and the cost of debt declines through the year, with another uplift from lower rates in FY26. The big caveat though, is whether anymore write downs will be needed next year if collections worsen again. You would hope CCP tightened up assumptions as a result of the big mistep which caused last year's write down. I wouldnt be suprised in the longer term if all 3 business units are making $50m+.
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