2014 NPAT was down 25% to $98m
2015 NPAT expected to be down further 20-25%, being $75m - $80m (excluding one-off cost of $7m).
I agree store renovation reduced the profit, but not sure about increased costs of $15m in 2HY 2015. Full year dividend for 2015 would be around 9.5c, 7c for 1HY, only approx. 2.5c for 2HY. Not good, IMO.
But it might provide LT investment opportunity if sp falls further in June.
Worth watching for LT.
MYR Price at posting:
$1.38 Sentiment: None Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)