Interesting observation: On a day when the All Ords is off 1.3% ADH is up 9.24% on announcing its FY19 results.
Front and centre in this good result is the comment that like for like sales in the first 7 weeks of this FY20 year are up 4.8%
But...I am not happy about the damage which their crazy and absolutely unexpected ‘panic’ announcement of 21 June caused...sending the SP south from $1.82 to $1.25. It was based upon their observation that like for like sales between 27 May and 20 June were flat.
Huh?
Flat in this 3 week period and yet in the next 7 weeks they are up nearly 5%. Surely there is some 'mea culpa' to swallow here!
But we have damn well nearly recovered back to the $1.82 pre stupid announcement price.
I am happy to take the 14.5c ff dividend which gives me a grossed up yield of nearly 14% - surely not seen since Al Capone ran bootlegging in the late 1920’s!
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