Accent Group Limited

ASX:AX1

Accent Group Limited

ASX:AX1
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$1.820 (-0.8%)
Last close price
#164
Rank
5
Held by
14
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Carbonite
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Last edited 4 years ago
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Performance (49m)
0.5% pa
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#Bear Case
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Carbonite
Last edited 4 years ago
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AX1 delivered great headline numbers until you drill down in the detail. Sure the 1.1% LFL sales since July 1 are good.
However, 24 of the 58 million profit of came from Jobkeeper, which AX1 won't be eligible to receive after next month. This will crater FY21 profits.
It’s a good company in a difficult environment but it is way overvalued based on the impending profit decline.