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56.5¢ regional express holdings limited

Ann: Rex Issues New Profit Guidance, page-5

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CaptainBarnacles

7,719 Posts.

161

01/06/17

22:15

Post #: 25051626
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Originally posted by Darre11 ↑

I previously forecast based on the HY17 that PAT for FY17 could be between $8-$12 million (http://chasingvalue.com.au/?p=333).

The announcement noted that the FY17 profit after tax (PAT) will be 2.5x the FY16 profit. Operating PAT for FY16 was $5.4 million ignoring impairments. So this would mean that the full year PAT for FY17 will be circa $13.5 million which exceeds my earlier forecast. It would be interesting to see whether the RPT in traditional network has increased.

A dividend payout ratio of 50% would be great for the share price. $7 million dividend would mean around 6% fully franked dividend yield, not bad with cash rate at 1.5%.

I think we all have been very patient with Rex, hopefully this patience pays off

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They said a 250% improvement, so that is 3.5x FY16. I took it as 10.5m+ against roughly 5.6m expected prior (which would have included a HY loss again).

REX Price at posting: $1.01 Sentiment: Buy Disclosure: Held
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