Just as i had hoped IFL has shown significant gains aross ALL the key metrics.
UNPAT UP 18%
Operating cashflow UP 10%
Underlying EPS UP 11%
Dividend (reason i bought) UP 14%!
I targeted IFL as i hoped the stk would produce a very high dividend (i.e. gr yield) at/above 10%. With SP at $7.70 and ffr HY div of 28.5cents it extrapolates to a gross yield of a whopping 10.6%!!!
Great effort by company has seen:
Organic growth
exc integration of acquisitions
increased productivity (very pleasing)
ROE of 13.6%
Net debt/equity a miserly 12.8%
Strengths
Diversified earnings base
Reliable cost control
PREDICTABLE cash flows... phew!
Positive LONG TERM (sustainable) fundamentals with more people and high per capita growth. (see graph p.20)
Plus this model has the ability to SCALE.
Very satisfied shareholder. One of the few stks i intend to hold onto. Cracker of a report. BUY.
IFL Price at posting:
$7.70 Sentiment: Buy Disclosure: Held
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