This companies profits would be even larger but they have changed accounting for profits of investments to be spread over their life vs the old way of booking the profit upfront.
The balance sheet as at 31/12/17 now holds deferred costs of $19.218M in assets (vs $14.216M 6 months earlier) and deferred revenue in liabilities of $24.919M (vs 17.593M 6 months earlier). Approximately half of these balance sheet item are to be converted to the p&l in the next 12 months.
Some nice forward profit already locked in.
The company also holds "derivative financial instruments"- client's investments. These show in the balance sheet in both assets and liabilities as the same amount. The amount has gone up from $25m 6 months ago to $43M.
SEQ Price at posting:
31.0¢ Sentiment: Hold Disclosure: Held
