"Now whilst 8% annual growth is nothing to sneeze at, it should be kept in mind that the business had to retain over 25% of its earnings (based on underlying NPAT), over the 13 years, to achieve it."
Meant to have said:
Now whilst 8% annual growth is nothing to sneeze at, it should be kept in mind that the business had to retain about 75% of its earnings (based on underlying NPAT), over the 13 years, to achieve it.
Ann: 2018 AGM Presentation to Shareholders, page-8
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