Think this years results are good given the restructure/simplification. Here are what I think are the good, bad and ugly.
What are your thoughts?
The Good:
1. Next year revenue will more than double based on owning 100% of Aurora Trust. (Page 27 - Underlying financial results of PAC)
2. Next year revenue will increase further as GQG revenue is recognised in this years figures (Page 16 - Boutique results)
3. Costs significantly down. From $29.8 Million to $18.6 Million.
4. $0.18 dividend (just the beginning given 100% ownership of the Aurora Trust this year). Know they said around the 20 cent mark prior to issuing statement saying it would be in the range of 16 to 20 cents.
The Bad:
1. Debt due dates, however with increased revenue, this is likely to be covered.
The Ugly:
1. None that I can see
Best of Luck
Lost
PAC Price at posting:
$7.30 Sentiment: Buy Disclosure: Held
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