FY21 Results: The health insurer met top line revenue expectations today however fell ~5% short at the profit line while the FY21 dividend of $0.24 was a shade below consensus. The key though to today’s market reaction (stock trading down 11% at time of writing) was their rhetoric around FY21 being a completely abnormal year given very low claims experience which would not be replicated, if anything it would turn hard the other way when restrictions eased. The share price has also been on a tear leading into today’s result and they’ve clearly tried hard to temper market expectations.
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Performance update for March, stocks that drove returns & our current positioning
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Wednesday 24th April – ASX200 +17pts, Silver Lake (SLR), Kogan (KGN) & CPI
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Market Matters Research Lead Shawn Hickman with David Koch
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Wednesday 24th April – DOW +263pts, SPI +27pts
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