Well, this is a pleasing profit report. rev up 14% !! costs down 6.3% free cash flow 58 mil - improved 40 mil over last year - at this rate will be able to pay 2.5c dist next year, but peninsula link will increase this even more. nett debt only 1049 mil which is only 35% gearing - NO PROBLEM WITH GETTING REFINANCING WITH THIS GEARING AND CASH FLOW IN 2012.
INSUMMARY - cash is flowing in, dist will rise, 14% rev raise is fantastic. more extensions to follow. gearing satisfactory to raise capital for loan repayment at most likely reduced interest rate.
CP2 can go to hell!
CEU Price at posting:
54.0¢ Sentiment: None Disclosure: Held
