I’ve just gone through the numbers.
loss of 0.4 cents per share.
increase in corporate debt from 0 to $75m
normalised cash profit is a bullshit measure, they primarily use it to set executive compensation targets so they can pay themselves bonuses.
I like the commercial but these financial engineering efforts is not fooling the market/analysts
Humm Valuation - What is Sensible, page-87
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