REH 2.02% $24.20 reece limited

Ann: Half Year Accounts, page-5

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  1. 100 Posts.
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    Just trying to make sense of it myself as it's pivotal to an appreciation of the result.  I think the key issue here is that you've used the segmented Moresco NPAT of $34m which was achieved after applying an interest share of $14m.  You've then added back the tax-effected value of the total finance cost of $43m to reach $30m when I think you should add back the tax-effected value of the Aus share of $29m rather than $43m.
    So $98m - $34m + $29m +$21m (where $21m = $29m*(1-30) ) = $114m so 9% increase.


 
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