Australia's largest stock trading and investment forum Australia's #1 stock forum

BLA

Click for more information

0.00%

18.5¢ blue sky alternative investments limited

Ann: Market Update, page-8

First 8 Last

Share
Profile

Follow
RAllen50

929 Posts.

36

16/04/18

11:21

Post #: 32477194
Share

Originally posted by Jimmy_C ↑

...and just tying the numbers together - they've revised down fee-earning AUM from 4.25-4.75bn, to 4-4.25. Taking the midpoints of each, they've revised down from 4.5bn to 4.125bn.

That $375m downward midpoint revision in AUM is apparently the main driver in NPAT midpoint going from $35m to $22.5m, which is roughly an $18m EBIT hit at a 30% tax rate. Assuming the EBIT margin they make on upfront/equity raise fees drops down to EBIT at close to a 100% rate, it seems like the failure to raise ~$400m equity in mostly retail AUM is hitting EBIT ~$18m - again, assuming them not raising these funds is the only thing that's changed, the implication is they're taking ~4.5% ($375m / $18m) upfront on the way into their retail products. Ergh, good old retail funds.

Expand

I came to a similar conclusion. They must forecast a massive amount of upfronts to hit the numbers they were talking about in the last two months.

BLA Price at posting: $4.22 Sentiment: Sell Disclosure: Not Held
Upvote

0 Great analysis

Reply

Top Stories

ACW

This biotech stock raised $11M in a risk-off environment. Its Alzheimer's drug could change the game

Breaking news: New opportunities for investors & companies - HotCopper opens to capital raising!

MEI

Sperm tech player Memphasys ships unit to Dubai – but can the stock attract liquidity?

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

AXN

Rising demand, China's 'tech war' bans leaves this germanium explorer with significant investment potential

There are more pages in this discussion • 82 more messages in this thread...

First 8 Last

Add BLA (ASX) to my watchlist