AEFs second half is a bit disappointing.
Profit 1st half was $2.3M so with total FY17 guidance of say $4.1M reflects only $1.8M in the second half.
Does this reflect their comment re higher personnel costs chewing away at some of their earnings?
Seems it is now all about FY18 with the steady increase in FUM, hard to see any early cause for upside.
Gosouth
Ann: Earnings Guidance, page-2
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