A very sound result from a conservative well-run company. Dividends continue to be modest at around 30% of profits, but re-investing will result in continued long-term growth.
I get the feeling that Ms Cheetham will further increase dividends after the move to Brazil is is on a more solid footing.
Attention needs to be focused on the North American market, where competition is a lot stronger.
I am satisfied with today's result.
Solid Result
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