The RRR for Q4 was over $150M and for June $180M. If we merely averaged in all of this financial year what we did in Q4, we'd exceed your target. By all accounts we should do a lot better than that.
The figures you're using seem to be based on very short terms during a time when the acquired companies were being restructured and integrated.
It looks like a lot of the market isn't going to understand it or won't believe the basic figures until another 2-3 quarterly statements. The next one won't look great because it'll be a first quarter which will be compared to a last quarter. It's bizarre that the market can't see it, but by early to mid next year the figures will be clear as day and if it takes that long to rerate it just means more buying opportunity. I wasn't planning to sell out before then anyway so I'm not too fussed.
TNT Price at posting:
23.5¢ Sentiment: Buy Disclosure: Held
