The PPN preliminary report is due around the 30 August 2011 which is only a week away.
This time last year I posted: "... Unless there are some "Black Swan" events that we haven't been told about, I would expect profit for 2009/10 to be in the same ball park as 2008/09 and that spells DIVIDENDS..."
The "Black Swan" events in 2010/11 that I know about would be the costs of the VCAT hearing and a downturn in BAR20 patronage for a few months because customers thought they had no liquor licence.
If insurance covers all or part of the costs and revenue loss, it is possible that 2010/11 profit could mirror 2009/10 and a similar dividend could be possible.
Having sat through the Supreme Court appeal, I would hope that BAR20's liquor licence problems ended with the sacking of the company that provided the bouncers.
No doubt, after the VCAT scare, the PPN board has lifted its game and gets on with its job of increasing the wealth of all its shareholders.
PPN Price at posting:
25.0¢ Sentiment: Buy Disclosure: Held
