" Pessimistic valuation $(I won't go there): Margin compression and losing stores via the reshuffling of retail network due to Telstra retail clustering strategy, uncertainty regarding Masters license extension beyond 2020 with management saying we don't know wait and see, anxious management expanding into something disastrous for the sake of diversification and growth."
Says it all at this stage.I have made a guesstimate for FY18.
mid range estimate EBITDA FY17 64.5 million
First half .........................................35.0 million
Second half .....................................29.5 million
Adjusted Second Half Earnings........27.7 million after applying reduced remuneration for 6 months
EBITDA FY18 based on ASHE........55.4 million
Less Depn and Amort 20%..............11.1 million
EBT...................................................44.3 million
Tax at 30%........................................14.8 million
Net profit after tax............................29.5 million
EPS based on 152 million shares .....19.4c
Dividend based on 66.6% payout .....13.0c
At Friday's close of 147.5c dividend yield of 8.8%.Telstra at 436c gives a dividend yield of 7.1%
Discounts have yet to be applied 1.For Telstra uncertainity.2.For Tpg causing further Telstra uncertainity.
All comments welcomed especially from those with other guesstimates
VTG Price at posting:
$1.55 Sentiment: None Disclosure: Not Held
