A takeover at 1.20 would make me happy as well :)however I am...

A takeover at 1.20 would make me happy as well

however I am not too unhappy with todays report - well it wasn’t great, but I do feel there is potential for FY24 to be way better and Cash NPAT and normalised to get much closer to each other. There was a big hit from the costs from shutting down all the trashy bits and exiting the UK, repricing should take effect in Fy24 and Commercial looks like delivering even more profit. Ireland and Canada are a bit unknown as to whether they can start delivering profit, rather than dragging it down - need to get more scale in Canada I suspect.

Sharebuy back and dividends are a pretty strong indicator that they don’t see a Cr as being needed anytime soon. Still don’t have a lot of confidence in AA over the shambles over the last few years (more than a few), but the CEO seems competent and as long as unemployment doesn’t explode it should be a steady and profitable year. We will see in February.