GRR 4.08% 25.5¢ grange resources limited.

As a matter of interest, the figures for FY11 were: Revenue...

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    As a matter of interest, the figures for FY11 were:
    Revenue $410.4mil and EBIT $155.5mil
    Whereas Mutt's base case figures for FY18 are:
    Revenue $ 318.4mil and EBIT $125.9mil
    Sounds like we're predicting figures of around 80% of FY11, so I'll be happy to take a dividend of 4c instead of 5c on FY18 results.
    We certainly don't know of any major CapEx or other expenditure for FY18 besides the continued stripping of the West wall in the North Pit, which might cost $50mil and will be capitalised but Mutt's EBIT includes C1 cash costs that includes stripping cost so statutory EBIT for 2018 will be higher as the stripping cost is higher than D&A cost.
 
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