First Half Result: Revenue of $342m was down -57% on 1H19 and the other metrics followed a similar path. No distribution guidance provided and they simply said that more information would come when clarity emerges – very understandable. SYD retain strong liquidity however dividends and free cash flow rely on international re-opening which is some way off by the look of it. Shares were flat today with corporate activity the only thing to get excited about here.
MM is neutral SYD
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