Rough estimate is debt costs will reduce to around $3m, or post tax $2m, on current gross debt of $42m (with no allowance for further debt reduction, which should progressively occur by 30 June 2014). Net profit after tax impact will be around $2.4m improvement compared to pre tax interest charges of $6.3m in 2013, or past tax $4.4m. EPS impact around 1.5cents, lifting it from around 6 cents normalised in 2013 to 7.5 cents, on a no growth scenario basis.
VEI Price at posting:
82.0¢ Sentiment: None Disclosure: Not Held
