Lilac thanks for that I must say I got a strange feeling that I wasn't getting the problem. My analysis was that it could have been better but that it was a solid result and there are hidden costs that they are incurring in the start-up of the expansion phase of growing their electricity sales business.
The only thing that I did notice was the underlying NPAT dropped by 48% but you just had to exclude significant items and you could see the growth.
I also grabbed a few more but was not lucky enough to notice the fall into the 2.20's - Oh well I bought a few more at under the placement price so I am happy.
EPW Price at posting:
$2.40 Sentiment: None Disclosure: Held