Just for this note, a stronger AUD will decrease the profit. In accounting terms a decrease is a debit to the P & L which is reported with no brackets. A weakening of the AUD will increase profit therefore a credit which is shown in brackets. Unfortunately this is confusing in this note to those who read it.
I think which ever way this is interpreted, a weakening of the AUD increases profit and a strengthening of the AUD decreases profit. As mentioned we will ensure that this note is made clearer in the next Annual Report.
Kind Regards, John Slaviero Director Of Finance & Chief Operating Officer
Seems we became a bit tripped up by the accounting conventions (i.e., the lexicon of "Accountan-ese")
The important point is that, in line with pre-existing understanding, a weaker Australian dollar is indeed beneficial for both SDI's profitability as well as its Net Asset position, and vice versa.
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SDI Price at posting:
82.0¢ Sentiment: Buy Disclosure: Held
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