Portfolio
Yeah I expect a bit up on that, perhaps even 15.5¢ or 16.0¢ a share, based on their being NO material LCIP Write Downs & straight lost appeals this year, in accordance the year's ongoing disclosures.
LCIP Expenses could/should bounce right up, and that will sour the EBIT disclosure a bit.
The attribution of LCIP - Expenses last year (2016) was scant to mercenary ($22.5m), and I think that comparable figure will have to be more telling, honest and onerous in 2017.
By midyear 2017 disclosure it was already at $34.4m and as I expect a further $50.0m odd LCIP- Settlements & Judgement there could well be another $20.0m LCIP - Expenses allocated. So the "net profit" could well be tighter than your expectation of $66m.
Eek!
I expect
Employee & Admin expenses ought be up At mid year Dec report they disclose a 23% accretion over the same period in 2016, but in the full year cash flow 4C full year, actual cash outflow for the year is up 75% from the same position in 2016. Clearly some of that has to be tucked away into LCIP accounts (as they do) , and so, with a big breath, plus the bigger finance expense, I expect this to be almost $39.0m ($30.2m 2016)
The AUD$ X USD$ cross 6.8% is favourable in the year end six months to the American assets - and should be a welcome translation salve to profits in the second half?
So my increased EPS guesstimate goes in the main to a slightly higher LCIP-Settlements & Judgements figure.
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Could you help? There is a A$7.209m cash finance inflow "from non-controlling interest" in the Annual 4C disclose that I missed on earlier scrutiny?
What is that? Any idea? Do you know?
I suspect that must be funds from backing out of European JV's? Is that so?
More money to stack up, ever higher & higher into mouldy old Gringott's Wizarding Bank.
