DOW 0.88% $5.76 downer edi limited

This is a good report that should calm those worries,...

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  1. 1,894 Posts.
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    This is a good report that should calm those worries, particularly worries re mining contractors.
    Good spread of work across rail, infrastructure and mining, and increasing long-term maintenance and support contract work.
    Small comparable half year reduction in profit, but note div increased (from 11c to 12c) and fully franked compared to 70% previously.
    And payout ratio only 60%.
    Good cashflow and mgt confident about full year profit.
    P/E less than 11
    Div yield 5% (7% grossed up).

    So, I expect that there will be initial price weakness in response to the headline "4.4% profit drop", and then gradual strengthening in sp as people read beyond the headline and analyse the figures.
    ...and come to the conclusion: solid business, key issues now in rear view mirror, 7% yield, P/E<11, payout ratio only 60%, lots of potential for div and sp growth.
    DYOR of course
 
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