Cash profit for BOQ? "In the six months to February 28 2014,...

Cash profit for BOQ?

"In the six months to February 28 2014, Bank of Queensland posted cash earnings of $140.2 million, a 17.2 per cent increase on the $119.9m recorded in the previous corresponding half."

So ideally, $155m being a 10% increase on PCP would be expected, in line with the bigger banks, whom have already reported.

Plus 3.5% (per six months, post tax, includes integration type costs) desired return on the Investec Bank professional finance and asset finance and leasing businesses $440 million = $15.5m.

$155m + $15.5m = $170.5m cash profit, excluding the impairment of the CRM system - $10m (as advised).

Divvie 36c/share FF.

That to me is the Duckworth Lewis par score - let's hope it doesn't rain.

Increased property prices - residential and retail vis-a-vis disposable income and the growth of "interest only" loans would logically provide tailwinds. Though I suspect that BOQ's mortgage book is not skewed towards the southern capitals.

Thoughts?