Why the drop?, page-8

db85
I agree with some of the points you mentioned but disagree with you about NVL results

NVL Profit and loss statement on page 21:
Revenue up 0.28%
Expenses -2.76%
Net profit after income tax expense -32.15%
Earning per share -26.4%
No retail business

Greencross (GXL) results:

 Revenue up 14% to $733.7 million
 Gross margin (%) up 130 bps to 55.7%
 EBITDA up 38% to $87.1 million
 Underlying EBITDA1 up 12% to $97.5 million
 Cash Conversion up 53% to 108%
 NPAT up 82% to $34.6 million
 Underlying NPAT1 up 10% to $42.1 million
 Underlying EPS1 up 8% to 37.0 cents
 Annual Dividends up 9% to 18.5 cents per share
 Net debt down $6.4 million to $228.0 million
 Retail stores up by 21 to 221
 In-store vet clinics up by 14 to 17