Anyone doubting the AQZ result should read the following statement at least twice!
"There have been no changes to the favourable tax position of the Group with no cash tax
payable for the next three to five years. Alliance has a $21 million franking credit balance
allowing future dividends to be fully franked."
So for the next 3 to 5 NPBT IS NPAT and we still get fully franked divvys.
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News: AQZ Alliance Aviation Services says FY revenue up 12% to $203.2 million, page-5
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