SIQ +7.38%: The car leasing and salary packaging company reported FY22 earnings that were as expected today, with full year revenue of $224.7m meeting expectations while underlying net profit of $61.2m was inline. The final dividend of 29c took the FY payout to 49c, ahead of expectations while they talked fairly favourably about a number of growth initiatives in the business. That, along with upbeat sales guidance from car yard operative Eagers Automotive (APE) had investors musing whether or not growth is possible in FY23, commentary had that sort of vibe. Consensus numbers for FY23 are for no growth while the stock has had a difficult past 12 months following a failed takeover tilt. We have owned SIQ in the past, and it resides on the MM Hitlist – a stocks we are now considering for our Income Portfolio.
MM is now bullish on SIQ ~$6 following today’s update
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