Didn't mean to cause a storm the other day - I was only stating the obvious. The results were at best POOR (as per guidence) and the future earnings outlook is clouded. With the Bank basically only interested in funding housing loans that have a minimal profit margin and coupled with a flawed and costly expansion drive of opening small branches in WA surburban shopping centres it provides for little upside in profits. Not only did they pay far too much for Promina, the various "weather events" of the past 18 months provided a double whammy that will take a long time to overcome. The Board continues to hide under banana trees and is basically treading water waiting for a bailout from a suiter.
SUN Price at posting:
$7.73 Sentiment: Hold Disclosure: Held
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