Quick summary. Rev as expected, debt 7% better than my forecast with 80m recovered from bad debter SOE's, and 'underlying' EPS of 49.7c which is 4.6% higher than my prediction of 47.5c. Be aware the true statutory EPS is 13.5c. So no surprises.
What has surprised me is Mkt's reaction. SP has surged and currently $12.53/55 up 3.64%! The otlook has all WOR's usual conditions and while FY18 should be better than FY17 the ratios at current SP are (imo) very stretched.
Hence, have just added new shorts at $12.50. CFDs available on IG Mkts.
Does anyone have an opinion as to why SP has leapt on these results? Some margins have improved and cashflow in 2H considerably better. But company still has 765m debt and goodwill is over 60% of mkt cap!! Amazing times. Maybe Mkt thinks Trump will fix the world.
Ann: Investor Day 2017 presentation, page-30
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Last
$14.17 |
Change
0.180(1.29%) |
Mkt cap ! $7.649B | |||
| Open | High | Low | Value | Volume |
| $14.10 | $14.24 | $14.05 | $15.93M | 1.119M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 6787 | $14.16 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $14.18 | 9834 | 2 |
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| Last trade - 16.10pm 22/11/2024 (20 minute delay) ? |
| WOR (ASX) Chart |
