Sent the post just as the result hit the wire.
Bit of a mixed bag, I have to say:
Strong operating performance (33% EBITDA growth above even my upper end expectation of 30%).
But much of this was negated by a 120% increase in the finance expenses line (due to lease interest rates, I assume).
Drilling into some of the key P&L ratios, GP Margin was 59.9%, up from 51.8% in pcp (testimony to the higher GP Margin ALS business, I suspect), but this was negated by CoDB-to-Sales which jumped from 43% to 51%.
In terms of balance sheet and cash flow, operating cash flows reasonable, reconciling well with P&L, and investing cash flows muted, resulting in improved net debt + lease position
So, some bouquets, some brickbats in the quality of the result (as is almost always the case with this sort of business).
Overall, I score it a 6.5, or maybe 7, out of 10.
Finally, there is the revision to full-year EBITDA guidance, from the previous 20% growth on FY2023, to 19% to 25% growth, effectively ($95m to $100m compared to FY2023's $80.1m).
Which sounds like an upgrade, but more accurately I think it can be described as "on average, an upgrade, but with small chance that it could end up being a downgrade".
.
- Forums
- ASX - By Stock
- SRG
- SRG
SRG, page-23
-
- There are more pages in this discussion • 15 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add SRG (ASX) to my watchlist
|
|||||
Last
88.0¢ |
Change
-0.005(0.56%) |
Mkt cap ! $458.7M |
Open | High | Low | Value | Volume |
89.5¢ | 89.5¢ | 87.5¢ | $798.7K | 904.9K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 22949 | 88.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
89.0¢ | 40067 | 10 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 22949 | 0.880 |
1 | 4344 | 0.875 |
4 | 32525 | 0.870 |
2 | 18979 | 0.865 |
4 | 30000 | 0.860 |
Price($) | Vol. | No. |
---|---|---|
0.890 | 38067 | 9 |
0.895 | 19344 | 3 |
0.900 | 25000 | 2 |
0.905 | 14000 | 1 |
0.910 | 10000 | 1 |
Last trade - 16.10pm 09/07/2024 (20 minute delay) ? |
Featured News
SRG (ASX) Chart |