My results summary
Underlying revenue is neg when compared to the PCP (which is never a good sign)
Underlying NPAT is flat when compared to the PCP (considering reduced revenue - mgmt did a good job in keeping NPAT flat)
Net debt decreased by $5m to $14.7m - this strong bal sheet helps with m & a
Operating cash flow grew, so even through cost to income ratio grew, IFL was able to keep expenses down. (which is a bit interesting when the C to I ratio has gown - but there you go)
My Summary
The business is in a mature market and is fighting for market share.The business is a high cash conversion business due to its "capex light" business model. It is a good dividend stock - buy on the dips.
HT1
IFL Price at posting:
$8.40 Sentiment: Buy Disclosure: 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)