Pinned straw:
$ALU has announced their 1H FY24 results this morning.
From a quick reading, I've breathed a sigh of relief to have the $68.50 takeover price locked in, as I think the market would have reacted quite negatively to the result, given the SP run-up ahead fof the takeover offer.
For context 1H23 the eps growth was 29% and FY23 was 19.4%. So this morning's 1H 24 11.2% is a distinctly softer result, and below consensus (if I have done the FX correctly).
Within the softer number, sales in the enterprise segment grew 60% to $20.4m - albeit from a small base.
Nice to get the $0.30/share dividend, as a last hurrah.
Life's too short for a more detailed analysis. I just need the deal to complete.
Financial Highlights
Disc: Held in RL and not on SM
Yes. It's a "solid" result (as described by the company itself in the announcement headline), but nowhere near enough to justify the current price inclusive of the good takeover premium. We may see more profit taking on the back of these numbers from sellers who are not prepared to see the deal through.
I think you're right there @mikebrisy
I mean, it's still a great result. But it's hard to complain about the takeover price.