Wow, nice set of results (still can't pick what the SP will do tomorrow - as this doesn't always follow logic - look at woolworths). I had pencilled in a cash flow of 40m to get 48m was a surprise. Very strong finish to the year from both the Star and aristo. In particular it was nice to see the aristo win rate up significantly and that the star didn't just make the 60m USD EBITDA target, but exceeded it comfortably.
I think these situations where management owns a large stake in the business, often work in the favour of small shareholders, despite academics arguing otherwise. With the stronger than expected OCF a dividend is fair enough.
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Wow, nice set of results (still can't pick what the SP will do...
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