Last month MPL delivered an impressive 40% lift in profits for FY21 as the coronavirus delivered an expected strong tailwind to the business. People have significantly prioritized their health since the pandemic swept the world and who can blame them. The outlook for MPL is solid with the company fairly optimistic moving forward although the landscape is clearly a tricky one to predict in these unprecedented times.
MM believes people’s health concerns are here to stay but MPL has already rallied +27% over the last 6-months putting us clearly with the crowd towards this view. We still like MPL and its forecasted 3.8% fully franked yield but the strapping performance over the last two quarters might be tough to match and we feel it’s now likely to move more in line with the underlying ASX.
MM is neutral / bullish MPL
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