DMP’s upgraded FY17 earnings guidance to NPAT growth of 30% and upgraded margin targets.
Group store openings guidance of 175-195 was maintained.
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FY17 revenue $1.2b, EBITDA $250m, Net Profit $130m, EPS $1.48 & DPS $1.05 placing the stock on a forward yield of 1.5%. PE = 46x
The recent low on the 2nd of November created the first lower low pattern we’ve seen in DMP since December 2014. Nevertheless, with the earnings upgrade, it’s likely the stock price will bounce from here but we’re thinking momentum will fade once the rally gets into the $75 range.
We’ll revisit DMP in the coming weeks and months.
